320 S Adams St - Freestanding FOR SALE


Manito, IL 61546
$105,000 USD
305-206-1286
320 S Adams St, Manito, IL for Sale
$105,000 USD
Freestanding - FOR SALE
1/14
null | Request Cap Rate

320 S Adams St
Manito, IL 61546


HIGHLIGHTS

  • ABSOLUTE $1 AUCTION | Former Family Dollar & Dollar Tree | 2022 Built | Peoria MSA | AUCTION DECEMBER 8-10
  • 10,590 SF Freestanding Value-Add Retail on 0.96 Acres Available at Substantial Discount Below Replacement Cost
  • Built in 2022; Former Family Dollar & Dollar Tree Combo Store with Open Floor, Rear Storage Room, and Side Door for Deliveries
  • Surrounding Traffic Generators: Dollar General, Subway, Manito Pharmacy, and more
  • Strategic Frontage and Visibility on S Adams Street | 26-mi from Peoria, IL
  • Attractive Demographics with Population of ±10,149 and Annual Household Income of ±$75,407 (10-mile radius)

OVERVIEW

Marcus & Millichap is pleased to present a vacant, free-standing retail building located at 320 S Adams Street, Manito, Mason County, Illinois 61546 (the “Property”). Formerly occupied by Family Dollar-Dollar Tree, the Property is being offered significantly below replacement cost, creating an excellent opportunity for owner-users or investors to acquire a highly visible, strategically positioned asset at a compelling basis. FIRST BID MEETS RESERVE! Built in 2022, the Property consists of a ±10,590-square-foot, single-story free-standing retail building situated on ±41,979 square feet (±0.96 acres) with a concrete surface parking lot with 37 spaces. The site is strategically positioned with ±264 feet of frontage along S Adams Street ensuring accessibility. Previously operated as a dual-store format, the Property was leased to Family Dollar-Dollar Tree on a triple-net (NNN) basis. The Property presents a value-add opportunity through lease-up at long-term market rates, with CoStar estimating retail rents of $7–$8/SF NNN. Zoned C (Commercial District), the Property accommodates a wide range of commercial uses, enhancing its appeal to both a diverse variety of end-users and investors alike. Manito, Illinois is a village in northern Mason County (approximately 30?minutes south of Peoria) that offers commercial real-estate developers a cost-effective entry point into central Illinois. The area is agriculturally rich—with center-pivot irrigation drawing from the Mahomet-Teays aquifer - and supports regional demand for farm services, equipment suppliers, and convenience retail. Surrounding traffic generators include Dollar General, Subway, Manito Pharmacy, along with local restaurants, service providers, and civic institutions that generate consistent daily traffic. With over 10,149 residents and an average household income of ±$75,407 within a 10-mile radius, the area sustains reliable demand for retail, restaurant, and professional service users.

FOR SALE DETAILS

PRICE

$105,000 USD

PRICE/SF

$10 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

$1 Auction-Fmr Family Dollar Tree

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2022

SPRINKLERS

-

PARKING SPACES

37

LAND DETAILS

LAND ACRES

0.96 AC

LAND SF

41,818 SF

ZONING

C - Commercial

APN/PARCEL ID

03-21-310-005

ASK ABOUT THIS PROPERTY

Philip KatesMarcus & MillichapMore Info
305-206-1286

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Philip KatesMarcus & MillichapMore Info
305-206-1286

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