215 Mechanic St, Pekin, IL 61554

This exceptional investment opportunity presents a multi-tenant retail portfolio in Pekin, Illinois, encompassing two strategically located properties totaling 31,556 square feet on a 0.75-acre lot. The portfolio consists of two buildings: 215 Fayette Street, housing Lock-tite Storage, a 12,152 square foot facility with approximately 80 storage units, of which 64 are currently leased. The unit mix includes fourteen 5'x5' units, thirteen 5'x10' units, twenty-five 10'x10' units, and twenty-eight 10'x15' units. Larger units offer the flexibility of being subdivided into smaller units. The second property, located at 309 Mechanic Street, is a 19,404 square foot building fully leased to a long-term tenant, Brock Industrial. This building includes 1,260 square feet of office space and the remaining area dedicated to warehouse space. The tenant is currently in the second year of a four-year lease renewal. The portfolio boasts a strong net operating income (NOI) of $45,407.63, resulting in a 3.05% capitalization rate. The asking price is $1,399,000, translating to a price per square foot of $47.22. The properties are ideally situated between 2nd and 3rd Streets, near the Secretary of State's office and Dairy Queen, and minutes from Illinois State Route 9 (John T. Mcnaughton Bridge). Nearby businesses include Pekin City Hall, the Tazewell County Courthouse, and various other office and retail establishments. This portfolio offers a compelling combination of stable income, strong tenant occupancy, and a prime location in a thriving commercial area.