For Sale
$550,000

1533 Wabash Ave Jerome, IL 62704

Fully Leased, Prime Location, Strong NOI

Overview

Added:
Dec 11, 2024
Days on market:
132
This exceptional investment opportunity presents a fully leased, single-story auto shop building situated on a 0.58-acre lot at 1533 Wabash Ave, Jerome, IL 62704. The 8,364 square foot property boasts a 100% occupancy rate, generating a substantial net operating income (NOI) of $41,854, representing a 7.61% capitalization rate. The asking price is $550,000, translating to $65.76 per square foot. The property benefits from its location on Wabash Avenue, experiencing a high traffic count of 25,400 vehicles. The current tenant mix includes two retail businesses, a billboard, and parking revenue from a neighboring company. The sale includes only the real estate; fixtures, furniture, and equipment (FF&E) are not included. This is a turnkey investment opportunity with a strong cash flow, ideal for investors seeking a stable and profitable addition to their portfolio. The property is located in Sangamon County, Illinois, and benefits from the area's 8.25% sales tax rate. This is a rare opportunity to acquire a high-performing commercial property in a desirable location.

Highlights

  • $550,000 asking price.
  • 8,364 square foot retail building.
  • Modified lease, single tenant, 100% occupancy.
  • $41,854 NOI, 7.61% cap rate, $65.76 price per square foot.
  • Located at 1533 Wabash Ave, Jerome, IL 62704, on a 0.58-acre lot.

Property Details for 1533 Wabash Ave

Property type
Retail properties, Auto shops
Square Feet
8,364 SF
Buildings
1
Stories
1
Lot Size (sq. ft)
25,265 SF

Location Insight

City
Jerome
County
Sangamon
State
Illinois
Latitude
39.7645719
Longitude
-89.6791967

FAQs

What type of property is this?
Retail property - Fully Leased, Prime Location, Strong NOI
Where is the retail property located?
The property is located at 1533 Wabash Ave Jerome, IL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: $550,000 asking price.; 8,364 square foot retail building.; Modified lease, single tenant, 100% occupancy.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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1533 Wabash Ave
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