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301 E Route 115 Herscher, IL 60941
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Key Details
Sold Price $38,000
Property Type Commercial
Sub Type Retail/Stores
Listing Status Sold
Purchase Type For Sale
Square Footage 9,026 sqft
Price per Sqft $4
MLS Listing ID 11960473
Sold Date 07/09/24
Year Built 2016
Annual Tax Amount $18,124
Tax Year 2022
Lot Dimensions 263X450X250X334
Property Description
Investor equity buy-in for retail income standalone building. Stable anchor tenant in place, Dollar General retail, with 40-year lease terms. Investor participation portion is 4.92% ownership. The first period lease capitalization rate is at 8.82% net. Cash investment requirement is $49,200. Retail property is a steel and masonry building constructed in 2016. This is a single occupant building with the rentable area of 9,026 sqft. Building features steel structural framing, exterior walls of concrete block and steel, with central HVAC, fire suppression and alarm system. Building sits on a parcel of 99,752 sqft / 2.29 acres. The site has 30 surface parking spaces. Accessibility is by State Route 115, which is a major arterial. The subject resides on the northern edge of Herscher. This Dollar Tree tenant serves Herscher and greater southwestern Kankakee County. The lease terms are triple net, with no landlord responsibilities. A very nice armchair investment. Contact broker for additional information.
Location
State IL
County Kankakee
Zoning COMMR
Interior
Cooling Central Air
Flooring Concrete
Fireplace N
Exterior
Utilities Available Electric to Site, Gas to Site, Sanitary Sewer
View Y/N true
Roof Type Membrane
Building
Foundation Concrete Perimeter
Structure Type Block,Steel Siding
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© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Bought with Ira Lauter • L & B All Star Realty Advisors LLC