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15 N Vail, Arlington Heights: Units: Price: Price/Unit: Net Rentable SF: Price/SF
15 N Vail, Arlington Heights: Units: Price: Price/Unit: Net Rentable SF: Price/SF
PROPERTY DESCRIPTION:
Kiser Group is pleased to offer this eighteen (18) unit mixed-use corner building in downtown Arlington Heights, IL. The three-story brick building consists of sixteen (16) one-bedroom apartments, and two (2) commercial spaces at the corner of N. Vail and W. Davis. The retail tenants are both restaurants and have leased since 2008. The onebedroom apartments measure approximately 900 square feet. The total commercial square footage is approximately 5000 square feet. Tenants pay for heat and electrictity. The property includes a full basement level with additional storage areas and a laundry room with owned machines. The property is located directly across the street from the Metra UP-NW station, which is in the center of downtown Arlington Heights. This area of Arlington Heights has shopping centers and boutique retail, offering unique upscale architecture with attractive landscaping and a pedestrian friendly design.
Type
SF
Average Rent
16 1 1
CASH FLOW
Gross Operating Income Total Expenses Net Operating Income Debt Service* Cash Flow $299,565 $113,077 $186,488 $120,844 $65,644
Current
8.85 37.75% 7.04% 1.54 9.91% GRM Expense Ratio Cap Rate DCR Cash Return
*Proposed Financing
Equity First Mortgage Interest Rate / Type Amortization / Term $662,500 $1,987,500 4.50% 30 25% 75%