6704 Pingree RdCrystal Lake, IL 60014

For Sale
$3,300,000

Multi-tenant industrial property, high ROI.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional multi-tenant industrial investment opportunity presents a 96,070 square foot building situated on a 5.6-acre lot in Crystal Lake, Illinois (60014). The property, with APN 19-03-301-009,010, features a main masonry structure complemented by a 13,680 square foot steel addition, built in 1957 with subsequent additions. Currently boasting 86% occupancy across eight units, the property generates a Net Operating Income (NOI) of $252,033, representing a 7.64% cap rate (using a 5% vacancy factor) and an asking price of $3,300,000 ($34.35/sq ft, $412,500/unit). The building offers five loading docks, three dock-high doors, and varying ceiling heights (up to 16 feet). Three 2000-amp electrical services are in place. Office areas and air conditioning are partially present. The property includes double capacity wet sprinklers and is zoned M. A significant upside potential exists through rent increases and the installation of separate gas and electric meters. An additional building site at a signalized intersection offers potential for rezoning and separate commercial development. Note: The owner will lease back Unit 8 at $5 per square foot. Financial statements are available upon request.

Highlights

  • 96,070 SF multi-tenant industrial building on a 5.6-acre lot in Crystal Lake, IL (60014).
  • 86% occupancy across eight units, generating $252,033 NOI.
  • Asking price: $3,300,000 ($34.35/SF, $412,500/unit), 7.64% cap rate (5% vacancy factor).
  • Features five loading docks, three dock-high doors, and ceiling heights up to 16 feet.
  • Includes three 2000-amp electrical services, partial office space & AC, double capacity wet sprinklers, and M zoning.

Property Details for 6704 Pingree Rd

Property type
Other warehouses, Other industrial properties
Square Feet
96,070 SF
Year Built
1957
Stories
1
Lot Size (sq. ft)
243,936 SF
Units
8

Location Insight

City
Crystal Lake
County
McHenry
State
Illinois
Latitude
42.23063684559
Longitude
-88.294897378487
6704 Pingree Rd, Crystal Lake, Illinois

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6704 Pingree Rd
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