1405-1419 Washington Rd Washington, IL 61571
- Lifestyle centers
- 8,480 SF
- 0.40 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 1405-1419 Washington Rd
- Lot size
- 0.40 lot acres
- Property size
- 8,480 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional multi-tenant property, located at 1405-1419 W Washington Road in Washington, Illinois, presents a compelling value-add investment opportunity. The 8,480 square foot building sits on a 0.4-acre lot and is zoned C-2, offering flexibility for various commercial uses. Currently boasting 80% occupancy with five tenants, the property features a two-story structure with five individual units. Recent improvements include a new roof (2020), updated HVAC systems, new water heaters, and both interior and exterior renovations. One vacant main-level unit (1407) provides immediate potential for increased income through either owner-occupancy or leasing at market rates. The property's high visibility on Washington Road (BUS 24) ensures strong traffic flow and exposure. With a current cap rate of 10% and a price per square foot of $42, this property offers a strong return on investment. The property's APN is 02-02-22-204-041. This is a rare opportunity to acquire a well-maintained, multi-tenant property in a desirable location with significant upside potential. The asking price is $355,000.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Washington
- County
- Tazewell
- State
- Illinois
- Longitude
- -89.4308
- Latitude
- 40.7038
