3523 Il-26 Freeport, IL 61032
- Industrial properties
- 7,320 SF
- 3.80 lot acres
Current Use by Public Records
- Industrial properties
Property Details for 3523 Il-26
- Year built
- 1983
- Lot size
- 3.80 lot acres
- Property size
- 7,320 SF
- Property type
- Industrial properties
- Property subtype
- Manufacturing properties
Description
This exceptional Freeport, Illinois industrial property presents a unique owner-user opportunity. The 7,320-square-foot building, situated on a generous 3.8-acre lot, boasts M-2 zoning, allowing for diverse business applications. Constructed in 1983 and renovated in 2020, the property features one single-story building with two units. The rear 3,920 square foot unit is currently leased for $1,425 per month, with built-in rent increases, generating a substantial income stream to offset operational costs. The front portion of the building is available for immediate occupancy, providing ample space for your business operations. The property includes 50 parking spaces and one loading dock. Separate utilities (excluding shared well water) are a key advantage. The property's location on IL-26 provides excellent highway access. With its expansive lot size, there's significant potential for future expansion. The previous use as an equipment rental and small engine repair shop, along with the absence of wineries/distilleries in Stephenson County, suggests strong potential for these ventures. The asking price is $335,000, representing a compelling $45.77 per square foot and a 4.96% cap rate with a net operating income (NOI) of $17,100. This is a rare chance to acquire a versatile industrial property with immediate income generation and substantial growth potential. The property's APN is 18-19-18-300-021 and the zip code is 61032.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Freeport
- County
- Stephenson
- State
- Illinois
- Longitude
- -89.63
- Latitude
- 42.2506
