60,600 SF Retail Center With Huge Upside Potential at 9.3% Cap Rate
Sold
431-497 W. Boughton Rd.
Bolingbrook, IL 60440
60,600 SF
Retail Neighborhood Center
The Details
- 60,600 SF retail strip center
- Includes 12,600 SF of office space
- At corner of Boughton and Schmidt
- Occupancy: 65%
- Great opportunity to add value
- Actual 2015 NOI: $323,827
- Priced well below replacement cost
- Traffic Count: 30,400 cars on Boughton; 8,150 on Schmidt
- Land Area: 5.88 acres
- Zoning: B-2, community retail
- Taxes (2014): $106,318
This 60,600 square foot neighborhood retail center is located at the stoplit corner of Boughton and Schmidt. The center features retail storefronts with frontage on both Boughton and Schmidt and a 12,600 square foot office center. With occupancy at 65%, the center has solid in-place income with long-term tenants while offering a great opportunity to add value.
Bolingbrook is an affluent western suburb of Chicago that has seen tremendous growth in the last decade. With its rapid expansion, many prominent businesses have chosen to call Bolingbrook home, including national retailers such as Meijer, IKEA, and Macy’s.