Property summary
This 2,560 square foot commercial building in Centralia, IL, presents a compelling investment opportunity. Previously used as an auto body repair shop, the property boasts a spacious garage area with overhead doors, ideal for various commercial uses. The building sits on a 0.04-acre lot and features a durable slab foundation. Ample overhead storage is available in the attic space, and the floors are a mix of tile, vinyl, and concrete, offering practicality and durability. The interior includes a convenient half-bath, two well-appointed offices, and several recent updates, enhancing its functionality and appeal. Currently generating a stable income stream with a lease in place at $950 per month, the lease agreement extends until February 2025, providing a predictable return on investment for the foreseeable future. The property's versatile layout and existing infrastructure make it suitable for a range of commercial ventures, offering significant potential for future growth and profitability. This is an excellent chance to acquire a well-maintained, income-producing property in a desirable location. The combination of a strong lease and the building's inherent features makes this an attractive investment opportunity. The property is priced at $59,500.
Property profile
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2022Property description
Physical attributes from public recordsZoning & alternative use
Zoning
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No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
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