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    206 Mclean St Lincoln, IL 62656

    Sponsored
    For Sale
    $345,500

    High-return medical office investment.

    Property size:
    4,120 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This exceptional Class A medical office condominium, located at 206 S McLean St in Lincoln, IL, presents a compelling investment opportunity. The 4,120 square foot space is situated on the third floor, offering abundant natural light and stunning views of the Logan County Courthouse. Currently 100% occupied by a single tenant under a net lease expiring June 2027, with a three-year renewal option, this property boasts a strong 9% cap rate and a Net Operating Income (NOI) of $31,100. The building is strategically positioned in the vibrant downtown Lincoln square, at the southwest corner of Pulaski Street and South McLean Street, providing excellent walkability to various restaurants and retail establishments. The property is zoned C-1, making it ideal for continued medical office use. This turnkey investment offers a secure, high-yield return with a long-term lease in place, making it an attractive option for discerning investors seeking a stable and profitable addition to their portfolio. The asking price is $345,500.

    Property Features for 206 Mclean St

    General Information

    Property type
    Medical offices
    Square Feet
    4,120 SF
    Class
    A

    HighLights

    • $345,500 asking price for a Class A, 4,120 square foot medical office building.
    • Located at 206 S McLean St, Lincoln, IL 62656, in a C‑1 zoned area.
    • 100% occupancy with a single tenant under a Net lease expiring June 2027, with a 3‑year renewal option.
    • $31,100 annual NOI, representing a 9% cap rate.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln
    County
    Logan
    State
    Illinois
    Longitude
    -89.362548187085
    Latitude
    40.145402830946

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    FAQs

    What type of property is this?
    Medical office - High-return medical office investment.
    Where is this medical office located?
    The property is located at 206 Mclean St Lincoln, IL.
    What is the asking price?
    The asking price for this property is $345,500.
    What are key features of this property?
    This property features: $345,500 asking price for a Class A, 4,120 square foot medical office building.; Located at 206 S McLean St, Lincoln, IL 62656, in a C-1 zoned area.; 100% occupancy with a single tenant under a Net lease expiring June 2027, with a 3-year renewal option.
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    206 Mclean St Lincoln, IL 62656
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    Lincoln, IL 62656
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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
    206 Mclean St Lincoln, IL 62656
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