206 Mclean St Lincoln, IL 62656
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.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.