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    25 Old Capitol Shopping Ctr Vandalia, IL 62471

    Sponsored
    For Sale
    $425,000

    19,700 SF Shopping Center; Value-Add Opportunity

    Property size:
    19,700 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This 19,700 square foot, single-story shopping center in Vandalia, Illinois presents a compelling value-add opportunity. Located on 1.25 acres at 25 Old Capitol Shopping Ctr, this Class C property, built in 1973, currently boasts a 10% occupancy rate with one tenant, the Illinois State Driver's License Office, holding a lease for approximately 1,900 square feet with 4 years remaining. The property is comprised of three units and offers significant upside potential through leasing the vacant space. A pro-forma cap rate of 27.06% is projected upon full occupancy. The asking price is $425,000 ($21.57/sq ft). The property is situated in an Opportunity Zone, providing substantial tax advantages. Furthermore, the City of Vandalia offers Tax Increment Financing (TIF) grants for building renovations that stimulate downtown business growth. Preliminary estimates for necessary renovations include approximately $130,000 for a new roof and $82,000 for a new HVAC system. Note that a Dollar General store located within the center is not included in this offering. Owner financing is available.

    Property Features for 25 Old Capitol Shopping Ctr

    General Information

    Property type
    Lifestyle centers
    Square Feet
    19,700 SF
    Class
    C
    Lot Size
    54,450 SF

    Building Details

    Year Built
    1973
    Buildings
    1
    Stories
    1
    Units
    3

    HighLights

    • $425,000 asking price for a 19,700 square foot Class C shopping center in Vandalia, Illinois.
    • Value‑add opportunity with a pro‑forma cap rate of 27.06% and a pro‑forma NOI of $115,000.
    • Currently 10% occupied, with one tenant (Illinois Drivers License Office) on a 5‑year lease.
    • Located in an Opportunity Zone with potential TIF grants available for renovations.
    • 1.25‑acre lot with one single‑story building, built in 1973.
    • Modified lease terms; Broker co‑op available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lifestyle centers

    Map

    City
    Vandalia
    County
    Fayette
    State
    Illinois
    Longitude
    -89.0930704
    Latitude
    38.9597914

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    FAQs

    What type of property is this?
    Lifestyle center - 19,700 SF Shopping Center; Value-Add Opportunity
    Where is this lifestyle center located?
    The property is located at 25 Old Capitol Shopping Ctr Vandalia, IL.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: $425,000 asking price for a 19,700 square foot Class C shopping center in Vandalia, Illinois.; Value-add opportunity with a pro-forma cap rate of 27.06% and a pro-forma NOI of $115,000.; Currently 10% occupied, with one tenant (Illinois Drivers License Office) on a 5-year lease.
    Request Owner's contact information
    25 Old Capitol Shopping Ctr Vandalia, IL 62471
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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
    25 Old Capitol Shopping Ctr Vandalia, IL 62471
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