400 N Main St - Office FOR SALE


Princeton, IL 61356
$440,000 USD
815-875-1221
400 N Main St, Princeton, IL for Sale
$440,000 USD
Office - FOR SALE
1/38
null | 9.27% Cap Rate

400 N Main St
Princeton, IL 61356


HIGHLIGHTS

  • Large concrete parking lot accommodating approximately 14 vehicles plus two accessible spaces.
  • Positioned along Main Street with convenient access to US Route 6 and Interstate 80.
  • Flexible layout suitable for investors seeking value-add repositioning opportunities.
  • Potential for additional rental income through lease-up of vacant commercial suites and future lower-level buildout.

OVERVIEW

This well-maintained 12-unit mixed-use property presents a compelling opportunity for investors seeking immediate cash flow with additional upside potential. The asset is comprised of three residential units (two spacious two-bedroom apartments and one efficiently designed studio), alongside nine commercial spaces fronts that provide diversified income streams. Over the past several years, the building has undergone significant renovations, resulting in a turnkey investment requiring no immediate capital improvements. All units are in strong condition, allowing a new owner to step in and begin generating revenue from day one. In addition to its current income, the property features a partially finished lower level, offering clear value-add potential. Investors may explore opportunities to further develop this space into additional residential or commercial units, subject to local zoning and approvals, thereby increasing overall returns. With a balanced unit mix, recent upgrades, and future expansion potential, this property is ideally positioned for both stable cash flow and long-term appreciation.

FOR SALE DETAILS

PRICE

$440,000 USD

PRICE/SF

$55 USD /SF

CAP RATE

9.27%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

C

YEAR BUILT

1947

SPRINKLERS

-

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,600 SF

ZONING

B-3 Commercial

APN/PARCEL ID

16-09-364-009,16-09-364-010

ASK ABOUT THIS PROPERTY

Janelle McCarterLandmark RealtyMore Info
815-875-1221

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Janelle McCarterLandmark RealtyMore Info
815-875-1221

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