2273 Washington Rd - Storefront Retail/Office FOR SALE
Washington, IL 61571 |
309-643-0717
2273 Washington Rd
Washington, IL 61571
HIGHLIGHTS
- High-Yield Retail Asset with Value-Add Upside: 98K+ SF shopping center on 12.59 acres. Currently 70% leased, offering significant lease-up potential.
- Anchor Tenant: Learning Care Group(Childtime): Credit-grade tenant backed by Learning Care Group. Lease extends through 2031 with 18K SF leased.
- Institutional Grade Co-Tenants: National brands include AMC Theaters, Dollar General, and Papa John's, ensuring consistent foot traffic.
- Two City Approved Shovel Ready Out Lot Pads: 4500K SF with drive thru along Route 8 and up to 30K SF along Summit Rd.
- Enterprise Zone and TIF Incentives: Up to 20% cost reimbursement for qualified improvements or development, along with real estate tax freeze
- Post-COVID Leasing Recovery Upside: 90% Occupancy pre-COVID. Stabilized pro-forma NOI at 90% occ. exceeds $540K, offering clear path to higher returns
FOR SALE DETAILS
BUILDING DETAILS
PROPERTY NAME
Cash Flowing Retail Center with Huge Upside
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Storefront Retail/Office
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1970
SPRINKLERS
-
PARKING SPACES
-
LAND DETAILS
LAND ACRES
12.59 AC
LAND SF
548,420 SF
ZONING
-
APN/PARCEL ID
02-02-20-307-008
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309-643-0717
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309-643-0717
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