100% Leased Office Investment
113 Newell Street, Woodstock, Illinois 60098
Sold: $1,100,000
Property Details
Property Type
Improved property
Building Type
Freestanding
Building Size
19,861 sqft
Land Size
0.69 acres
Sewer
city
Water
city
Zoning
B3
Electric
400 amp
Year Built
1940
Parking
35 Private Lot
Property Description
100% Leased bank owned single tenant (2 bldgs. adjoined) office property near downtown Woodstock. Long term tenant is State of Illinois. 113 Newell is occupied by DCFS and 512 Clay is occupied by Dept. of Human Services. Current lease is being extended thru 8/31/25. CAP rate of 9% includes 5% vacancy factor (even though there is no vacancy). 4% management fee and 5% reserve. These are 2 connected buildings, (1) single and (1) 2-story with elevator. 35 car private paved lot includes. Bldg. is approx. 19,800 SF per Assessor’s office. Sprinklered buildings in good condition. Ideal 1031 property. Ask broker for Operating Statement.