1856 BroadwayAlton, IL 62002

Property Details for 1856 Broadway

Year built

1947

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.00 AC

Property size (Sq ft)

1,280 SF

Property type

Commercial real estate

APN

23-1-08-18-09-201-001

APU

231081809201001

Description

This exceptional Alton, IL commercial property presents a unique investment opportunity. Located at 1856 E Broadway, the property encompasses a well-established restaurant storefront sharing a common storage area with a separate warehouse currently leased month-to-month to a long-term tenant. The sale includes all commercial buildings and the one-acre lot. Furniture and fixtures are excluded from the sale. The property offers significant potential for rental income, with estimates exceeding $7,500 per month from the storefronts alone. The existing tenant provides immediate cash flow. The property's versatility allows for various business ventures or expansion opportunities. Note that this listing is for the commercial buildings and land only. A separate, attractive 2,400 square foot home with three bedrooms and three bathrooms, a fenced backyard, and an above-ground swimming pool, located behind the commercial buildings (MLS #24064401), is available for purchase at an additional cost of $225,000. This home can be purchased with or prior to the commercial property. This is a rare chance to acquire a substantial commercial property with strong rental income potential and the option to expand your investment with a desirable residential property. The asking price for the commercial property is $659,900.

• Alternative Use

  Use

  Valuation

  Residential

  $391,977

  Hospitality

  $359,049

  Educational

  $298,724

  Medical

  $308,998

  Retail

  $464,682

Location Insight

City

Alton

County

Madison

State

Illinois

Latitude

38.8887

Longitude

-90.1562

CBSA code

41180

CBSA name

ST. LOUIS, MO-IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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