4439 Il-177 Okawville, IL 62271

This exceptional multi-use property in Okawville, Illinois, presents a compelling value-add investment opportunity. Located at 4439 State Route 177, this 4.5-acre site boasts a substantial 12,400 square feet of building space, encompassing a thriving bar and grill, residential quarters, and a significant storage facility. The storage component includes 88 mini-storage units, currently 98% leased, and a large 30x130-foot metal building suitable for vehicle or RV storage, plus a workshop. The property also offers ample land for future expansion of the storage facilities. The existing bar and grill operation adds to the overall revenue stream, although the provided NOI of $31,326 and 3.69% cap rate reflect only a portion of the potential income, as these figures are based on self-storage income alone, excluding the bar, gaming machines, and residential income. The property is zoned HB-1 and includes 60 parking spaces. The asking price is $850,000, translating to $68.55 per square foot. This unique combination of established businesses and high-demand storage units makes this property an attractive investment with significant upside potential. Its convenient location near Scott Air Force Base further enhances its appeal. The property's current occupancy rate is 80%. The APN is 16-05-14-100-013.