1255 Hickox Dr Lincoln, IL 62656
- Commercial real estate
- 5,100 SF
- 2.20 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1255 Hickox Dr
- Year built
- 1982
- Lot size
- 2.20 lot acres
- Property size
- 5,100 SF
- Property type
- Commercial real estate
Description
This established pet motel in Lincoln, IL, presents a unique investment opportunity. The 5,100-square-foot facility, built in 1982 and currently undergoing renovations, sits on a 2.2-acre lot with 8 parking spaces. Currently operating at 100% occupancy, the business offers dog kennels, day care for dogs and cats, and dog grooming services. The asking price is $400,000, representing a compelling $78.43 per square foot and a 21.06% cap rate (22.53% pro-forma). The property boasts a strong NOI of $84,232 ($90,133 pro-forma). Located at 1255 Hickox Dr, Lincoln, IL 62656, the property benefits from high visibility and accessibility, situated off N Lincoln Parkway with an average daily traffic count of 6,000 vehicles. The sale includes all necessary equipment and inventory. The property is zoned Improved Commercial (0060) and features a single, one-story building. Significant air rights (95,832 sq ft) offer potential for expansion. This turnkey operation is ideal for an experienced pet care professional or an investor seeking a stable, high-return business. The owner's retirement creates this rare opportunity to acquire a well-regarded business with a loyal customer base in a community with a relatively low cost of living and unemployment rate of 5.2%.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lincoln
- County
- Logan
- State
- Illinois
- Longitude
- -89.3874
- Latitude
- 40.1619
