For Sale
$345,500

206 Mclean St Lincoln, IL 62656

High-return medical office investment.

Overview

Added:
Dec 11, 2024
Days on market:
136
This exceptional Class A medical office condominium, located at 206 S McLean St in Lincoln, IL, presents a compelling investment opportunity. The 4,120 square foot space is situated on the third floor, offering abundant natural light and stunning views of the Logan County Courthouse. Currently 100% occupied by a single tenant under a net lease expiring June 2027, with a three-year renewal option, this property boasts a strong 9% cap rate and a Net Operating Income (NOI) of $31,100. The building is strategically positioned in the vibrant downtown Lincoln square, at the southwest corner of Pulaski Street and South McLean Street, providing excellent walkability to various restaurants and retail establishments. The property is zoned C-1, making it ideal for continued medical office use. This turnkey investment offers a secure, high-yield return with a long-term lease in place, making it an attractive option for discerning investors seeking a stable and profitable addition to their portfolio. The asking price is $345,500.

Highlights

  • $345,500 asking price for a Class A, 4,120 square foot medical office building.
  • Located at 206 S McLean St, Lincoln, IL 62656, in a C-1 zoned area.
  • 100% occupancy with a single tenant under a Net lease expiring June 2027, with a 3-year renewal option.
  • $31,100 annual NOI, representing a 9% cap rate.

Property Details for 206 Mclean St

Property type
Office properties, Medical offices
Square Feet
4,120 SF
Class
A

Location Insight

City
Lincoln
County
Logan
State
Illinois
Latitude
40.145402830946
Longitude
-89.362548187085

FAQs

What type of property is this?
Office property - High-return medical office investment.
Where is the office property located?
The property is located at 206 Mclean St Lincoln, IL.
What is the asking price?
The asking price for this property is $345,500.
What are key features of this property?
This property features: $345,500 asking price for a Class A, 4,120 square foot medical office building.; Located at 206 S McLean St, Lincoln, IL 62656, in a C-1 zoned area.; 100% occupancy with a single tenant under a Net lease expiring June 2027, with a 3-year renewal option.
How can I contact the broker?
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206 Mclean St
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