1908 State St - Health Club FOR SALE


Granite City, IL 62040
$190,000 USD
618-791-7663
1908 State St, Granite City, IL for Sale
$190,000 USD
Health Club - FOR SALE
1/8
null | Request Cap Rate

1908 State St
Granite City, IL 62040


HIGHLIGHTS

  • Great opportunity for a multi use facility
  • Located in heart of downtown Granite City
  • Main level is being used as a gym for "Tank Training". 2nd level is leased until 2027 with a gross lease at $4,000 per year
  • Gym equipment has an approx. value of $200,000 new with actual resale value closer to $115,000
  • Potential to complete 3 apartments and a showroom or boutique on the main level end cap
  • unlimited potential for additional parking lots in rear

OVERVIEW

Front picture does not include the small building to the right! Great opportunity for a multi use facility in downtown Granite City close to Granite City Steel & Gateway Regional Hospital. Main level use is currently a gym for "Tank Training" which is owner occupied. Rubber Modified roof 2019. Existing elevator at this building was fully operational 10 years ago but could potentially be operational again. A new buyer would be advised to negotiate a new lease for a longer term. Tenant has no immediate desire to leave. Seller owns 3 parcels of land to the south side at 1909 & 1911 Grand that could be purchased for $15,000 if the user needs additional parking or other uses. The parcels are 45X125, 50X125 & 50X125. Upstairs tenant has been vacated as of 3/1/26. Plenty opportunity for multiple types of uses!

FOR SALE DETAILS

PRICE

$190,000 USD

PRICE/SF

$11 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Health Club

ADD'L SUBTYPES

undefined, Light Distribution, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1940

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,632 SF

ZONING

C-4

APN/PARCEL ID

22-2-19-24-12-202-002,22-2-19-24-12-202-005

ASK ABOUT THIS PROPERTY

Jim ReppellRE/MAX AllianceMore Info
618-791-7663

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Jim ReppellRE/MAX AllianceMore Info
618-791-7663

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