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    Property profile & analytics
    OFF-MARKET
    Commercial real estate

    318 Washington St, Millstadt, IL 62260-1228

    2,084 SF 0.35 ac lot Built 1954
    Entity Owned 2-yr Hold Absentee Owner Free & Clear
    Property ID
    US28-1416869
    Property summary
    AI-generated overview

    This exceptional commercial property at 318 E Washington Street in Millstadt, Illinois, presents a rare investment opportunity. Spanning over 3400 square feet on a 0.35-acre lot, this building boasts numerous recent updates and offers immense versatility. Currently holding a city-issued gaming and liquor license, the property is ideally suited for a variety of businesses. Imagine a bustling bar and gaming area, a fine dining establishment, a liquor store, or even a multi-faceted operation. The existing layout includes multiple bathrooms, a kitchen area, and a full basement perfect for storage and inventory. The building's design allows for the creation of outdoor seating or patio areas, enhancing its appeal and functionality. Convenient alley access provides additional parking options beyond the ample space already available on the lot. Previously used as a daycare, teen center, and bar with a dance hall, this property has a rich history and a bright future. Its location in Millstadt's vibrant commercial district, known for its thriving food scene and social atmosphere, ensures high visibility and foot traffic. This is a chance to establish a successful business in a desirable community. Don't miss this exceptional opportunity to own a piece of Millstadt's thriving commercial landscape. The asking price is $449,500.

    Property profile
    Verified
    Property type Commercial real estate
    Use group COMMERCIAL (GENERAL)
    Year built 1954
    Construction WOOD
    Total area 2,084 SF
    Lot 0.35 ac (15,246 SF)
    APN 12-10-0-303-027
    UPID US28-1416869
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    by Request
    Owner & transaction history
    Helfrich Family Asset Management Ll · 2 yrs held
    Helfrich Family Asset Management Ll
    since 2023
    Last sale
    $99,000
    4 recorded transactions
    2023
    2009
    2000
    $99,000
    1969
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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