1631 8Th StVandalia, IL 62471

This exceptional multi-tenant retail portfolio in Vandalia, IL, offers a compelling investment opportunity. Comprising three buildings totaling 21,018 square feet on a 2.56-acre lot, the portfolio boasts 100% occupancy with four tenants, including a thriving Mexican restaurant and Sarah Bush Lincoln Hospital (with a potential for future rent increases). Strategically located with high visibility frontage on I-70 (22,600 vehicles daily) and Veterans Avenue (6,850 vehicles daily), the portfolio benefits from its proximity to major retailers like McDonald's, Wendy's, and others. The largest building (9,408 sq ft, built in 2002, recently renovated in 2023) offers significant flexibility for future tenant configurations. The other two buildings, constructed in 1998 and 1975, are long-term leased pole barns (5,940 sq ft and 5,670 sq ft respectively). Significant value-add potential exists, particularly with the possibility of redeveloping underutilized land and increasing rental rates. The portfolio features 30 parking spaces and offers a current NOI of $80,066 and a pro-forma NOI of $89,663, resulting in an 8.43% cap rate and a pro-forma cap rate of 9.44%. The asking price is $950,000 ($45.20/sq ft). Additional air rights of 111,513 sq ft present further development opportunities. This fee-simple ownership offers a strong return on investment with significant upside potential.