200 W Gallatin St - Storefront Retail/Office CONDO FOR SALE


Vandalia, IL 62471
$215,000 USD
704-987-0000
200 W Gallatin St, Vandalia, IL for Sale
$215,000 USD
Storefront Retail/Office CONDO - FOR SALE
1/4
null | 9% Cap Rate

200 W Gallatin St
Vandalia, IL 62471


HIGHLIGHTS

  • Long-term DMV tenancy with 50+ years of occupancy
  • 9% cap rate with potential to reach 12% via lease-up
  • Vacant bank space includes drive-thru canopy
  • Located in Opportunity Zone with TIF & Enterprise Zone benefits
  • High visibility at signalized intersection with 16,000± VPD
  • Surrounded by national retailers and strong local amenities

OVERVIEW

Positioned at a signalized intersection in Vandalia’s Old Capitol Shopping Center, this investment property offers a rare blend of stability and upside. Anchored by the Illinois DMV, which has operated at this location for over 50 years, the site delivers immediate income with a 9% cap rate and potential to reach 12% through lease-up of the adjacent vacant bank space. The bank building includes a 659 SF interior and a 2,238 SF drive-thru canopy, ideal for financial services, quick-service retail, or medical use.

FOR SALE DETAILS

PRICE

$215,000 USD

PRICE/SF

$85 USD /SF

CAP RATE

9%

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

19,500 SF

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1972

SPRINKLERS

-

PARKING SPACES

100

LAND DETAILS

LAND ACRES

1.25 AC

LAND SF

54,450 SF

ZONING

C

APN/PARCEL ID

18-14-16-406-003

ASK ABOUT THIS PROPERTY

Brad BowmanFirst Federal Properties, Inc.More Info
704-987-0000

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Brad BowmanFirst Federal Properties, Inc.More Info
704-987-0000

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