Herscher, IL 60941,301 E Route 115
Herscher, IL 60941,301 E Route 115
Herscher, IL 60941,301 E Route 115
15
$38,000
$49,200
22.8%
Est.Price: ?

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9,026 SqFt

301 E Route 115 Herscher, IL 60941

Est. payment /mo
SOLD DATE : 07/09/2024

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Key Details

Sold Price $38,000

Property Type Commercial

Sub Type Retail/Stores

Listing Status Sold

Purchase Type For Sale

Square Footage 9,026 sqft

Price per Sqft $4

MLS Listing ID 11960473

Sold Date 07/09/24

Year Built 2016

Annual Tax Amount $18,124

Tax Year 2022

Lot Dimensions 263X450X250X334

Property Description

Investor equity buy-in for retail income standalone building. Stable anchor tenant in place, Dollar General retail, with 40-year lease terms. Investor participation portion is 4.92% ownership. The first period lease capitalization rate is at 8.82% net. Cash investment requirement is $49,200. Retail property is a steel and masonry building constructed in 2016. This is a single occupant building with the rentable area of 9,026 sqft. Building features steel structural framing, exterior walls of concrete block and steel, with central HVAC, fire suppression and alarm system. Building sits on a parcel of 99,752 sqft / 2.29 acres. The site has 30 surface parking spaces. Accessibility is by State Route 115, which is a major arterial. The subject resides on the northern edge of Herscher. This Dollar Tree tenant serves Herscher and greater southwestern Kankakee County. The lease terms are triple net, with no landlord responsibilities. A very nice armchair investment. Contact broker for additional information.

Location

State IL

County Kankakee

Area Herscher

Zoning COMMR

Interior

Cooling Central Air

Flooring Concrete

Fireplace N

Exterior

Utilities Available Electric to Site, Gas to Site, Sanitary Sewer

Roof Type Membrane

Building

Level or Stories 1

Structure Type Block,Steel Siding

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Midwest Real Estate Data (MRED) IDX
Listed by Ira Lauter • L & B All Star Realty Advisors LLC
Bought with Ira Lauter • L & B All Star Realty Advisors LLC

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Chad Scott

Agent | License ID: 8665494

+1(262) 331-1621

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