1000 Morton Ave Jacksonville, IL 62650-3152

Property Details for 1000 Morton Ave

Year built

2004

Lot size

1.33 lot acres

Property size

5,884 SF

Property type

Commercial real estate

APN

09-20-303-005

APU

920303005

Description

This exceptional investment opportunity presents a 7,000-square-foot, single-tenant net lease property occupied by Springfield Clinic. Located at 1000 W Morton Ave, Jacksonville, IL 62650, this property boasts a prime location on a major retail thoroughfare with approximately 19,000 vehicles passing daily. The building, constructed in 2005 and renovated in 2015, sits on a 1.33-acre lot and includes 53 parking spaces. The current lease with Springfield Clinic has 10.9 years remaining, expiring September 30, 2035, and includes built-in rent bumps every five years. The property generates a strong net operating income (NOI) of $91,296, resulting in an attractive 6.50% capitalization rate. Landlord responsibilities are limited to roof and structural repairs, offering a truly passive investment. The property benefits from its location in a regional retail hub, surrounded by national retailers such as Home Depot, Dollar Tree, Walmart, Five Below, and Starbucks. Jacksonville, IL serves as a regional center for retail and services, offering the most comprehensive retail options within a 20-mile radius. The tenant, Springfield Clinic, is a necessity-based business, providing resilience against economic downturns. This property offers a low price point due to its low rent structure, making it an attractive investment with significant long-term potential. The property's excellent visibility and accessibility, with three points of ingress/egress, further enhance its appeal.

Location Insight

City

Jacksonville

County

Morgan

State

Illinois

Longitude

-90.2438

Latitude

39.7237

CBSA code

27300

CBSA name

JACKSONVILLE, IL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments