1405-1419 Washington RdWashington, IL 61571

Property Details for 1405-1419 Washington Rd

Lot size

0.40 AC

Property size (Sq ft)

8,480 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional multi-tenant property, located at 1405-1419 W Washington Road in Washington, Illinois, presents a compelling value-add investment opportunity. The 8,480 square foot building sits on a 0.4-acre lot and is zoned C-2, offering flexibility for various commercial uses. Currently boasting 80% occupancy with five tenants, the property features a two-story structure with five individual units. Recent improvements include a new roof (2020), updated HVAC systems, new water heaters, and both interior and exterior renovations. One vacant main-level unit (1407) provides immediate potential for increased income through either owner-occupancy or leasing at market rates. The property's high visibility on Washington Road (BUS 24) ensures strong traffic flow and exposure. With a current cap rate of 10% and a price per square foot of $42, this property offers a strong return on investment. The property's APN is 02-02-22-204-041. This is a rare opportunity to acquire a well-maintained, multi-tenant property in a desirable location with significant upside potential. The asking price is $355,000.

Location Insight

City

Washington

County

Tazewell

State

Illinois

Latitude

40.7038

Longitude

-89.4308

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