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    2008 Vandalia St Collinsville, IL 62234

    Sponsored
    For Sale
    $220,900

    Three-unit brick building with adjoining lot.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    337
    This exceptional Collinsville commercial investment opportunity presents a three-unit brick building boasting a full basement. Currently, all three units are leased, generating consistent rental income. Unit #1 commands a monthly rent of $900 on a new two-year lease, Unit #2 brings in $800 per month on a two-year lease, and Unit #3 generates $700 monthly. Starting June 1st, 2024, tenants will share utility costs, enhancing the property's profitability. A significant advantage is the inclusion of an additional 60x50 foot adjoining lot (parcel number 13-2-21-22-12-203-014) in the sale, adding considerable value and potential for future development or expansion. The building has undergone significant improvements, including a new roof and HVAC systems installed in 2018, and new gutters and landscaping completed in 2019. Furthermore, the property benefits from shared responsibility for parking lot maintenance, snow removal, and lawn care within the Office Park, minimizing ongoing expenses for the owner. This turnkey investment offers a strong return on investment with established tenants and recent upgrades, making it an attractive opportunity for discerning commercial investors. The property is priced at $220,900.

    Property Features for 2008 Vandalia St

    General Information

    Property type
    Other commercial real estate
    Lot Size
    4,356 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    U.S. Air Force ... Military Recruiting Office Priority Tactical Security Service Monopoly Beauty Studios Beauty Salon US Naval Recruiting Military Recruiting Office Dinámica Designs Glamour ... Beauty Salon

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Collinsville
    County
    Madison-IL
    State
    Illinois
    Longitude
    -89.96666
    Latitude
    38.69686

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    FAQs

    What type of property is this?
    Commercial real estate - Three-unit brick building with adjoining lot.
    Where is this commercial real estate located?
    The property is located at 2008 Vandalia St Collinsville, IL.
    What is the asking price?
    The asking price for this property is $220,900.
    344-7900
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    2008 Vandalia St Collinsville, IL 62234
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    Collinsville, IL 62234
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2008 Vandalia St Collinsville, IL 62234
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