612 W Gallatin St - Apartments FOR SALE


Vandalia, IL 62471
$900,000 USD
618-670-2422
612 W Gallatin St, Vandalia, IL for Sale
$900,000 USD
Apartments - FOR SALE
1/28
null | Request Cap Rate

612 W Gallatin St
Vandalia, IL 62471


OVERVIEW

With over 20,000+ sq ft this 1924 three story building has +/- 6900 Sq ft per floor. This downtown property is being advertised with the parcel the building sits on plus an optional second parcel of land that could enhance the overall plans/outcome of the building's potential. The building started as a motel. Lastly used as efficiency apartments before the fire. The building has an elevator that goes from the basement to the 3rd floor. The are two sets of stairs that provide the same access to all 4 levels. Main floor has a lobby area, dining hall, kitchen/serving area, a couple bathrooms, plus several other rooms that could be used in various ways. See photos for roughly estimated AI layouts of each level. The upper 2 levels have numerous rooms with endless options to divide and split up for offices or tenants. The two basement areas could be used for storage, utilities, and equipment. The floors are poured concrete with 1st floor 19 pour, 2nd floor 15, & 3rd floor 11. Location: Downtown

FOR SALE DETAILS

PRICE

$900,000 USD

PRICE/SF

$43 USD /SF

# OF UNITS

15

PRICE/UNIT

$60,000

CAP RATE

Request Cap Rate

% LEASED

-

STATUS

Under Renovation

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1924

PARKING SPACES

20

LAND DETAILS

LAND ACRES

1.75 AC

LAND SF

76,230 SF

ZONING

-

APN/PARCEL ID

18-14-16-329-008

ASK ABOUT THIS PROPERTY

Jay KehrerStrano & Associates Real EstateMore Info
618-670-2422

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Jay KehrerStrano & Associates Real EstateMore Info
618-670-2422

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