832 S Old Route 66 - Warehouse FOR SALE


Litchfield, IL 62056
$299,500 USD
618-570-8344
832 S Old Route 66, Litchfield, IL for Sale
$299,500 USD
Warehouse - FOR SALE
1/8
null | 22.72% Cap Rate

832 S Old Route 66
Litchfield, IL 62056


OVERVIEW

Investment property consisting of an 8 unit apartment building, auto repair facility, and a single family home. The apartment income is $5,750/month (5 units at $700, and 3 units at $750), the repair garage income is $1,200/month, and the house income is $1,000/month. The total annual income is $95,400. The landlord pays water sewer and trash. Total annual expenses is $24,350. Cap Rate of 23. Zoning is S-2 which is single family for all of the buildings. The auto shop is grandfathered in under the S-2 with the current legal owner. As soon as another owner is listed it will have to be legally rezoned and the auto shop will be illegal. The process of rezoning is quite a few months . The other buildings can not be converted currently because it is zoned for ONLY single family (one duplex can be possibly approved with a special application but not 3plex or 4plex), Not multi family zoned, not motel/commercial zoned, not Commercial for a restaurant. Located in a commercial/residential mixed area. Less than 1 mile from I-55.

FOR SALE DETAILS

PRICE

$299,500 USD

PRICE/SF

$86 USD /SF

CAP RATE

22.72%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Investment Property Portfolio

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1989

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.3

LAND SF

56,628

ZONING

S-2

APN/PARCEL ID

15-05-255-005,15-05-255-007,15-05-255-008

ASK ABOUT THIS PROPERTY

John EichenlaubBarberMurphy GroupMore Info
618-570-8344

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John EichenlaubBarberMurphy GroupMore Info
618-570-8344

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