134 Chestnut StCanton, IL 61520

Property Details for 134 Chestnut St

Property type

Commercial real estate

APN

09-08-27-433-003

APU

90827433003

Description

This exceptional retail investment opportunity presents a fee-simple ownership of a 14,046 square foot, multi-tenant center in Canton, Illinois. Anchored by a credit-rated Dollar General, occupying 100% of the space, this Class B property boasts a strong 10% cap rate and a pro-forma cap rate of 16.97%. The property features five tenants under NNN leases, providing expense recapture and significant upside potential due to below-market rents. The Dollar General lease, initially commenced in September 1998, has a remaining term of 4.3 years, extending to February 2029, with a recent 5-year extension. The property sits on a 1.1-acre lot with 65 parking spaces and includes 22,104 square feet of air rights. Built in 1977 and renovated in 2017, the two-story building is zoned CMU. The asking price is $461,000, translating to $32.82 per square foot. Lease options are available, and the property offers a substantial current NOI of $50,654, projected to increase to $78,250. This is a rare opportunity to acquire a stabilized, multi-tenant retail center with a prominent anchor tenant and significant growth potential. The property's location at 134 E Chestnut St, Canton, IL 61520, offers excellent visibility and accessibility.

Location Insight

City

Canton

County

Fulton

State

Illinois

Latitude

40.5568

Longitude

-90.033

CBSA code

37900

CBSA name

PEORIA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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