709 S Commercial St - Auto Repair FOR SALE


Harrisburg, IL 62946
$2,698,558 USD
310-261-8428
709 S Commercial St, Harrisburg, IL for Sale
$2,698,558 USD
Auto Repair - FOR SALE
1/17
null | 7% Cap Rate

709 S Commercial St
Harrisburg, IL 62946


OVERVIEW

DWG Capital Group presents a significantly repriced industrial investment opportunity in Harrisburg, Illinois. The ±34,621 SF facility is offered at approximately $2.70 million, or $77.95/SF, representing a significant price improvement from the prior 6.0% cap pricing to a 7.0% cap rate. The property is currently a dark leased industrial asset with contractual income in place and considerable long-term upside. The next contractual rent escalation occurs in December 2026, increasing annual rent and NOI to approximately $188,899, or approximately $5.46/SF NNN. At a 7.0% cap rate, the implied value is approximately $2.70 million. The lease remains in place through May 31, 2033, subject to its terms. Investment Highlights Offering Price: Approximately $2.70 million Cap Rate: 7.00% NOI: Approximately $188,899 Basis: Approximately $77.95/SF Contract Rent: Approximately $5.46/SF NNN Significant Price Improvement: Repriced from a 6.0% cap to a 7.0% cap Dark Lease: The facility is currently dark while contractual lease obligations remain in place Lease Term: Initial term through May 31, 2033, with approximately 6.7 years remaining as of September 2026. Absolute Net Lease: Tenant is responsible for substantially all property operating costs, taxes, maintenance and repairs under the lease. Goodyear Guaranty: The lease package includes a guaranty from The Goodyear Tire & Rubber Company covering rent and other tenant obligations. Below Replacement Cost: Entry basis of approximately $78/SF Multiple Exit Strategies: Hold for contractual income through the existing lease term, pursue re-tenanting or owner-user occupancy following lease expiration, or evaluate alternative occupancy strategies only as permitted by the existing lease and any future tenant negotiations 1031 Exchange Appeal: Attractive sub-$3 million transaction size with contractual income and long-term optionality Property Overview Address: 709 S. Commercial Street, Harrisburg, IL 62946 Building Size: Approximately 34,621 SF Current Use: Commercial truck / industrial facility Market & Location The property is positioned in Harrisburg, Illinois, serving southern Illinois and the broader tri-state region including nearby Kentucky and Indiana. The low acquisition basis provides a defensible entry point relative to replacement cost and supports multiple long-term strategies after the existing lease term, subject to the lease and any future tenant arrangements. Current Economics NOI: $188,899 Cap Rate: 7.00% Offering Price: Approximately $2.70 million Price/SF: Approximately $77.95/SF Contract Rent: Approximately $5.46/SF NNN Opportunity The investment thesis is straightforward: A dark leased industrial asset at approximately $78/SF, with contractual income, a Goodyear guaranty, approximately 6.7 years of remaining initial lease term, and long-term upside after lease expiration or otherwise as permitted by the lease. The current pricing represents a significant improvement from the prior 6.0% cap pricing to a 7.0% cap, creating an attractive basis for investors seeking contractual income and future optionality.

FOR SALE DETAILS

PRICE

$2,698,558 USD

PRICE/SF

$78 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Rabin Tire & Auto Service

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1983

SPRINKLERS

-

PARKING SPACES

19

LAND DETAILS

LAND ACRES

2.78 AC

LAND SF

121,097 SF

ZONING

Industrial

APN/PARCEL ID

06-2-503-04

ASK ABOUT THIS PROPERTY

Judd DunningDWG CAPITAL GROUP ( Formerly NGKF/ARA)More Info
310-261-8428

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Judd DunningDWG CAPITAL GROUP ( Formerly NGKF/ARA)More Info
310-261-8428

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