13 Old Capitol Mall, Vandalia, IL 62471
19,500 SF | 10% Leased | Retail Building | Vandalia, IL 62471 | $425,000 ($22/SF)
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 7 days
Asking Price $425,000
- Sale Condition
- Lease Option
- Property Type
-
Retail
- Square Feet
- 19,500 SF
- Price / Square Foot
- $22
Listing Contacts
Brad Bowman
Verified Profile
- Property Info
Property Overview
Great opportunity to purchase high vacancy building and enjoy huge upside profit through leasing the vacant space (estimated 27% CAP Rate if leased). OWNER FINANCING. Property is located in an Opportunity Zone giving tremendous tax benefits. The City has TIF (Tax Increment Financing) grants available for renovating buildings that bring business into the downtown area. The State of Illinois Drivers License Office has leased approx 1900 SF in the center for more than 50 years and just renewed for another 5 years. Estimates for new roof is approx $70,000 and new HVAC is approx $82,000. Dollar General occupies a space in the center, but is not included in this offering.
Property Details
- Class
- C
- Year Built
- 1972
- Stories
- 1
- Property Subtype
- Storefront Retail/Office
- Lot Size (sq. ft)
- 54,450 SF
Highlights
- Signaized Intersection
- Busiest Intersection in the County
Nearby Properties
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