1631 8Th StVandalia, IL 62471

Property Details for 1631 8Th St

Lot size

2.07 AC

Property type

Commercial real estate

APN

18-14-09-153-010

APU

181409153010

Description

This exceptional investment opportunity comprises three strategically located commercial properties in Vandalia, Illinois, totaling 21,018 square feet. The portfolio boasts prime frontage along I-70 (22,600 vehicles daily) and Veterans Avenue/Hwy 40 (6,850 vehicles daily), placing it in the heart of Vandalia's retail corridor, near major national chains like McDonald's, Wendy's, and Sonic. The largest property, a 9,408 sq ft building at 1631 N. Eighth Street, constructed in 2002, currently houses Sarah Bush Lincoln Hospital (3/4 of the building, lease expiring in 1-2 years) and a thriving Mexican restaurant. Recent capital expenditures exceeding $50,000 include a new roof. This building's adaptable layout allows for up to four tenants, offering significant potential for increased rental income. The other two properties, located at 1401 Veterans Avenue, sit on 1.56 acres and include two long-term tenants in pole barn buildings (5,940 sq ft and 5,670 sq ft) paying below-market rates, presenting a value-add opportunity. One building was constructed in 1998 and the other in 1975. The property at 1401 Veterans Avenue also includes undeveloped land with potential for expansion, such as a mini-storage facility. Four additional adjacent lots are available for purchase, further enhancing the investment potential. The entire portfolio offers a unique blend of immediate income and significant long-term growth potential.

• Alternative Use

  Use

  Valuation

  Residential

  $25,186,250

  Hospitality

  $23,070,470

  Educational

  $19,194,360

  Medical

  $19,854,482

  Retail

  $29,857,892

Location Insight

City

Vandalia

County

Fayette

State

Illinois

Latitude

38.9785

Longitude

-89.1011

Property Tax & Assessments

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