11500 Pulaski RdAlsip, IL 60803

Property Details for 11500 Pulaski Rd

Lot size

0.62 AC

Property type

Retail space

APN

24-22-406-018

APU

2422406018

Description

This 6,834 square foot multi-tenant retail property in Alsip, Illinois, presents a compelling investment opportunity. Located at 11500 South Pulaski Road, this 2013-built building sits on a 0.62-acre lot and boasts a prominent corner location with high visibility. Currently 54% occupied, the property features DaVita Dialysis as a strong anchor tenant, recently renewing their lease for an additional five years with 10% rent bumps in each of three 5-year lease options. DaVita's lease is guaranteed by its parent company, providing significant financial security. The remaining 3,174 square feet of divisible space offers excellent potential for additional income generation, benefiting from high traffic counts exceeding 43,800 vehicles daily. The property's strategic location within the Chicago MSA, less than 16 miles southwest of downtown, places it near numerous national retailers, including Jewel Osco, ALDI, and Walgreens. A dense population of over 139,500 residents within a 3-mile radius, with an average household income exceeding $93,800, provides a robust customer base. The property's net lease structure with DaVita allows for 100% recapture of their pro rata share of operating expenses, creating a passive income stream. The current pro-forma NOI is $137,652, with a pro-forma cap rate of 10.50%. The asking price is $1,311,000. This property offers a blend of secure income and significant value-add potential.

• CAP approach

  CAP return

  Valuation

  6%

  $10,076,000

  6.5%

  $9,300,910

  7%

  $8,636,560

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,654,710

  Geo Method

  $3,654,710

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $18,310,200

  Mixed-Use / Specialty

  $9,198,040

  Hospitality / Lodging

  $6,657,550

  Office

  $9,070,780

  Institutional / Educational

  $9,537,340

  Residential Income

  $11,158,700

  Multifamily

  $13,769,600

  Automotive / Energy

  $8,174,860

  Parking / Income-Based Land

  $2,889,920

  Restaurant / Food Service

  $4,635,190

  Healthcare / Senior Housing

  $9,503,900

Location Insight

City

Alsip

County

Cook

State

Illinois

Latitude

41.6837

Longitude

-87.7207

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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