589 State Hwy 146 Hwy McClure, IL 62957
This exceptional commercial property in McClure, Illinois, presents a unique investment opportunity. Located at 589 State Highway 146, this property boasts a prime location on a four-lane highway, ensuring high visibility and accessibility. The existing building comprises approximately 25% retail and office space, and 75% dedicated to a well-established dance hall. The dance hall features a large bar, spacious open seating area, a sizable dance floor with a stage, multiple bathrooms, and several additional rooms suitable for kitchen facilities or other uses. The adaptable layout allows for potential expansion to a three-unit building. The property sits on a substantial land parcel, offering ample parking. This property is priced significantly below comparable properties across the river in Missouri. The asking price is $360,000. A potential package deal including an additional 10 acres with multiple buildings is also available. This presents a rare chance to acquire significant commercial land near Cape Girardeau, Illinois, making it an ideal investment for entrepreneurs seeking high-traffic exposure and versatile commercial space. The property's current configuration as a dance hall and retail space provides immediate income potential, while its adaptability allows for a wide range of future uses.
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
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.