2008 Vandalia St Collinsville, IL 62234

Property Details for 2008 Vandalia St

Year built

1985

Lot size

0.10 lot acres

Property size

3,430 SF

Property type

Office Properties & Spaces

APN

13-2-21-22-12-203-013

APU

132212212203013

Description

This exceptional Collinsville commercial investment opportunity presents a three-unit brick building boasting a full basement. Currently, all three units are leased, generating consistent rental income. Unit #1 commands a monthly rent of $900 on a new two-year lease, Unit #2 brings in $800 per month on a two-year lease, and Unit #3 generates $700 monthly. Starting June 1st, 2024, tenants will share utility costs, enhancing the property's profitability. A significant advantage is the inclusion of an additional 60x50 foot adjoining lot (parcel number 13-2-21-22-12-203-014) in the sale, adding considerable value and potential for future development or expansion. The building has undergone significant improvements, including a new roof and HVAC systems installed in 2018, and new gutters and landscaping completed in 2019. Furthermore, the property benefits from shared responsibility for parking lot maintenance, snow removal, and lawn care within the Office Park, minimizing ongoing expenses for the owner. This turnkey investment offers a strong return on investment with established tenants and recent upgrades, making it an attractive opportunity for discerning commercial investors. The property is priced at $220,900.

Location Insight

City

Collinsville

County

Madison

State

Illinois

Longitude

-89.9667

Latitude

38.6968

CBSA code

41180

CBSA name

ST. LOUIS, MO-IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments