206 Mclean St Lincoln, IL 62656
- Office Properties & Spaces
- 4,120 SF
Current Use by Public Records
- Office Properties & Spaces
Property Details for 206 Mclean St
- Property size
- 4,120 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Medical offices
Description
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.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lincoln
- County
- Logan
- State
- Illinois
- Longitude
- -89.3625
- Latitude
- 40.1454
