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301 E Route 115, Herscher, IL 60941
$49,200
301 E Route 115, Herscher, IL 60941View this property at 301 E Route 115, Herscher, IL 60941
301 E Route 115HerscherIL60941
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Property Description
Investor equity buy-in for retail income standalone building. Stable anchor tenant in place, Dollar General retail, with 40-year lease terms. Investor participation portion is 4.92% ownership. The first period lease capitalization rate is at 8.82% net. Cash investment requirement is $49,200. Retail property is a steel and masonry building constructed in 2016. This is a single occupant building with the rentable area of 9,026 sqft. Building features steel structural framing, exterior walls of concrete block and steel, with central HVAC, fire suppression and alarm system. Building sits on a parcel of 99,752 sqft / 2.29 acres. The site has 30 surface parking spaces. Accessibility is by State Route 115, which is a major arterial. The subject resides on the northern edge of Herscher. This Dollar Tree tenant serves Herscher and greater southwestern Kankakee County. The lease terms are triple net, with no landlord responsibilities. A very nice armchair investment. Contact broker for additional information.
Full Property Details
Full Property Details for 301 E Route 115
General
- Price: $49,200
- Taxes: $18,124 (2022)
- Status: Active
- Type: Store
- MLS ID: 11960473
- Updated: 3/28/2024
- Added to Site: 106 day(s) ago
Interior
- Interior Features: Accessible Washroom/s
- Flooring: Concrete
Additional Information
- Security/Safety: Alarm Monitored, Sprinklers (Wet)
Parking
- Parking Features: 19 to 30 Spaces
Location
- Area: Herscher
- County: Kankakee
- Township: Pilot
- Driving Directions: State Route 115, one block east of Park Rd, northern most part of town.
- Location Details: In City Limits
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Ceiling Units
Utilities
- Onsite: Electricity to Site, Gas to Site, Sanitary Sewer
Structural Information
- Construction: Block, Steel Siding
- Exterior Const.: Steel Siding, Block
- Foundation: Concrete Perimeter
- Roof: Membrane
- Sub-Flooring: Concrete
- Stories/Levels: 1
- Square Feet: 9,026
- Current Bldg. Use: Commercial
- Year Built: 2016
Unit Information
- # Tenants: 1
Lot Features
- Lot Size (Sq. Ft.): 99,752
- Lot Dimensions: 263 x 450 x 250 x 334
- Frontage: County Road
- Zoning: COMMR
Financial Considerations
- For Sale/Rent/Lease: For Sale Only
- Operating Expenses: $4,800
- Other Fee: $4,800
- Security Deposit: Alarm Monitored, Sprinklers-Wet
- Assessment Year: 2016
- Tax Amount: $18,124.6
- Tax Year: 2022
- Tenant Pays: Air Conditioning, Common Area Maintenance, Electricity, Heat, Janitorial Service, Operating Stops, Taxes, Insurance, Repairs, Roof, Scavenger, Structure
Disclosures and Reports
- Property ID: 14142130001300
Listed by L & B All Star Realty Advisors LLC
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Price & Sales History for 301 E Route 115
Date
Details
Price
Change
Source
3/22/2024
Price Reduced
$49,200
-13.99%
MLS
2/18/2024
Price Reduced
$57,200
-15.45%
MLS
1/12/2024
Listed
$67,650
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 301 E Route 115
Year
Property Taxes
Change
Tax Assessment
Change
2022
$357
—
$4,949
6%
2022
$357
2%
$4,658
5%
2021
$350
2%
$4,426
4%
2020
$342
-1%
$4,276
—
2019
$344
—
$4,276
—
2018
$345
—
$4,276
—
2017
$346
—
$4,276
—
2016
$347
3%
$4,276
—
2015
$336
—
$4,276
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 301 E Route 115
301 E Route 115, Herscher, IL 60941 (MLS# 11960473) is a Store property. 301 E Route 115 is currently listed for $49,200 and was received on January 12, 2024. Want to learn more about 301 E Route 115? Do you have questions about finding other Store real estate for sale in Herscher? You can browse all Herscher real estate or contact a Coldwell Banker agent to request more information.