345 Main St Chatham, IL 62629-1702

Property Details for 345 Main St

Lot size

0.79 lot acres

Property type

Commercial real estate

APN

28-12.0-278-036

APU

28120278036

Description

This exceptional investment opportunity presents a 9,296 square foot medical office building situated on a 0.79-acre lot in Chatham, Illinois. The property, built in 1990, boasts a strong 7.25% cap rate and a substantial net operating income (NOI) of $144,088. Currently occupied by a highly profitable dental practice under a 10-year lease with 3% annual rent increases commencing at closing, this is a secure, passive income investment. The building enjoys excellent visibility and accessibility, with 150 feet of frontage on North Main Street, a major thoroughfare with a daily traffic count of 14,900 vehicles. Ample private parking is available, accessible from both North Main and Cottonwood Drive. The location offers strong demographics, including affluent income levels and high traffic counts, placing it within a robust trade area near major highways and national tenants. This turnkey, fully built-out dental office presents a rare opportunity for a physician-guaranteed net lease investment in a prime commercial location just six miles south of Springfield, Illinois. The property's strong investment criteria, including moderate population density and high visibility, make it an attractive and secure investment. Please note: Do not disturb the current tenant.

Location Insight

City

Chatham

County

Sangamon

State

Illinois

Longitude

-89.7052

Latitude

39.6795

CBSA code

44100

CBSA name

SPRINGFIELD, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments