80 Ashland CtMorton, IL 61550

Property Details for 80 Ashland Ct

Year built

1999

Lot size

2.05 AC

Property size (Sq ft)

7,440 SF

Property type

Warehouses

Property subtype

Self storage facilities

APN

06-06-17-100-028

APU

60617100028

Description

This exceptional 20,256 square foot warehouse facility in Morton, Illinois, presents a compelling investment opportunity. Located at 80 Ashland Ct, 61550, this multi-tenant property boasts 150 units and sits on a 2.05-acre lot. Currently operating at 100% occupancy, generating a strong net operating income (NOI) of $101,660 and a 7.70% cap rate, this asset offers significant potential for future growth. The asking price is $1,320,000, translating to $65.17 per square foot. Built in 1998, the property has undergone recent renovations, enhancing its appeal and functionality. Key features include paved drive aisles, gated access with a keypad entry system for enhanced security, and roofs that were completely replaced in 2017, ensuring long-term structural integrity. Further upside potential exists through rental increases and tenant insurance revenue. This well-maintained, high-performing warehouse is ideally situated in Tazewell County, offering easy access to major transportation routes and a strong local market. The property's strong occupancy and proven income stream make it an attractive investment for both seasoned and emerging investors seeking a stable and appreciating asset in the Illinois industrial market.

Location Insight

City

Morton

County

Tazewell

State

Illinois

Latitude

40.6262

Longitude

-89.47

CBSA code

37900

CBSA name

PEORIA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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