$300,000
$350,000
14.3%For more information regarding the value of a property, please contact us for a free consultation.
1 Wade Belleville, IL 62221
1.28 Acres Lot
Key Details
Sold Price $300,000
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
Subdivision Florian Neuhoff Assessment Pla
MLS Listing ID 21089258
Sold Date 07/11/22
Annual Tax Amount $11,956
Lot Size 1.280 Acres
Acres 1.28
Property Sub-Type Retail
Property Description
Value-add retail center at high traffic corner of 161 and Lebanon Ave. Five tenants currently occupy the property with the addition of an apartment and one retail space available for lease. There hasn't been much issues leasing units out so the two vacant units should lease out quickly. Current gross income is $40,776 with current estimated expenses being $20,203. NOI is $20,573 giving the property a cap rate of 5.5%. If the two units are leased then it will give put the gross income to $59,076 giving the center a NOI of $38,503 and cap rate of 10.3%. Location: Corner Location, Retail Center
Location
State IL
County St. Clair
Interior
Heating Forced Air
Cooling Central Air, Electric
Fireplace N
Exterior
Parking Features false
Utilities Available Electricity Available, Natural Gas Available, Water Available, Sewer Available
View Y/N No
Building
Sewer Public Sewer
Water Public
Structure Type Brick,Other
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
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Bought with MichaelSintzel
