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1305-75 Remington Road Schaumburg, IL 60173
Remington Office Court is an 83,370 square foot office complex comprised of four buildings, all single-story, and sits on 4 acres of land. The property is well located in the heart of Schaumburg's business district. All buildings have separate entrances with direct access to each suite from the parking lot. There is no shared interior common area. The property is currently stabilized at 92% occupancy with a total of 63 suites; 58 leased, 4 vacant and 1 for property storage. The property has enjoyed very strong leasing activity over the last two years with over 15 new leases, and the complex has been over 80% occupied for the past five years. Suite sizes range from 630 - 4,000 square feet, offering a variety of office suite sizes and providing a wide range of fully built-out spaces that are very appealing to local businesses in the area. All suites have one or more dedicated restrooms. The majority of the vacant spaces have been updated with fresh paint, carpet, finishes, and lighting (most LED) over the last two years, presenting very attractive and immediately available office spaces for potential tenants. This property has a true gross rent structure and tenants pay their electric, with all of the suites separately metered. The current NOI is very healthy at $594,204. The asking price of $6,714,000 is based on an 8.85% cap. The property has been well kept by the existing owner, and there is limited deferred maintenance. This type of property is rarely available and an excellent opportunity for an investment buyer to obtain a stabilized, very well-maintained, multi-tenant office investment.
|a week ago||Listing updated with changes from the MLS|
|4 months ago||Status changed to Pending|
|8 months ago||Status changed to Active|
|8 months ago||Listing first seen online|