849 HwyForsyth, IL 62535

Property Details for 849 Hwy

Year built

1988

Lot size

1.02 AC

Property size (Sq ft)

6,762 SF

Property type

Mixed-use properties

Property subtype

Medical space

Description

Exceptional Forsyth, IL investment opportunity: This 6,762 square foot, 100% occupied, four-unit mixed-use building presents a stabilized commercial investment with a 7.48% cap rate and $97,189 annual NOI. The property, built in 1988 and renovated in 2024, features a brick and stucco exterior with a metal roof, situated on a 1.02-acre lot with 75 parking spaces. Located at 849 US Route 51, it benefits from high visibility with an average daily traffic count of 18,300 vehicles and convenient access to I-72. The four tenants, all credit-rated franchisees, are under gross leases with 3% annual rent bumps, commencing January 1, 2013, and expiring December 31, 2028. The property is zoned MUN and offers a strong return on investment with a price per square foot of $192.10 and a price per unit of $324,750. The seller is open to financing options with agreeable terms. The owner is responsible for taxes, insurance, and exterior maintenance. This is a turnkey investment opportunity in a desirable location.

Location Insight

City

Forsyth

County

Macon

State

Illinois

Latitude

39.9233

Longitude

-88.9563

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