11596 & 11638 IL Highway 1 - Warehouse FOR SALE


Paris, IL 61944
$3,100,000 USD
248-848-4092
11596 & 11638 IL Highway 1, Paris, IL for Sale
$3,100,000 USD
Warehouse - FOR SALE
1/13
null | 8.91% Cap Rate

11596 & 11638 IL Highway 1
Paris, IL 61944


HIGHLIGHTS

  • 7.39-acre site with 31,350 NRSF warehouse space and room for expansion
  • Annexes the Twin Lakes, the area’s main all-sports lake
  • Entrance to property within ½ block of primary boat launch
  • One of the existing warehouses is fitted with 16’ x 20’ overhead doors
  • 5-mile vehicle, boat & RV NRSF per capita of 1.14 (per StorTrack)

OVERVIEW

On behalf of the Seller, Friedman is proud to bring this exciting conversion opportunity to market in Paris, IL (Springfield market). This represents a unique opportunity for an aspiring Boat & RV storage operator to have the only facility in the area that is actually on Twin Lakes. Twin Lakes is an all-sport lake with no facilities offering lake access. Better still, there is no need to build a boat launch as the property is ideally located within a few hundred feet of each of Twin Lake's public boat launches. Simply rehab the existing warehouses, add additional buildings if desired, and build and access drive to the south, and this facility is ready to go. Purchase the land separately or, if purchased at full-price, the seller will pre-fund renovation and construction of a 61,350 SF, 122 units for an additional $2.3MM.

FOR SALE DETAILS

PRICE

$3,100,000 USD

PRICE/SF

$51 USD /SF

CAP RATE

8.91%

% LEASED

-

TENANCY

-

STATUS

Under Renovation

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lake-access Boat & RV Conversion opportunity

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1972

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

7.39

LAND SF

321,908

ZONING

CM

APN/PARCEL ID

09-13-25-200-034

ASK ABOUT THIS PROPERTY

Joseph AronoffFriedman Real EstateMore Info
248-848-4092

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Joseph AronoffFriedman Real EstateMore Info
248-848-4092

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.