9001 Us Rte Richmond, IL 60071
- Investment properties
- 4,000 SF
Current Use by Public Records
- Investment properties
Property Details for 9001 Us Rte
- Year built
- 1959
- Property size
- 4,000 SF
- Property type
- Investment properties
Description
This exceptional investment opportunity presents a fully leased, two-unit automotive center totaling 4,000 square feet, situated on US Highway 12 in Richmond, Illinois. The property boasts a strong tenant roster, with Pete's Paint Works occupying one unit since 1986 and Medina Cars occupying the other since 2016. Both tenants are under long-term leases, extending through 2029 (Medina's lease has a renewal option). The all-masonry building, originally constructed in 1959 with subsequent additions, has undergone recent improvements including a new membrane roof and overhead doors. The property offers significant user-investor potential, as the auto body tenant (Medina Cars) is willing to vacate for a buyer requiring their 2,800 square foot space. This presents a unique chance to occupy a portion of the building while maintaining a substantial rental income stream from the remaining tenant. Financial data, including a rent roll and operating statement, is available upon request. The property's location on a major highway ensures high visibility and accessibility, making it an attractive proposition for both investors and owner-operators. The current cap rate is 10.57%. This is a rare opportunity to acquire a stable, income-producing asset with significant upside potential in a desirable location.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Richmond
- County
- McHenry
- State
- Illinois
- Longitude
- -88.3061
- Latitude
- 42.4575
