80 Ashland Ct Morton, IL 61550-1452
- Warehouses
- 7,440 SF
- 2.05 lot acres
Current Use by Public Records
- Warehouses
Property Details for 80 Ashland Ct
- Year built
- 1999
- Lot size
- 2.05 lot acres
- Property size
- 7,440 SF
- Property type
- Warehouses
- Property subtype
- Self storage facilities
- APN
- 06-06-17-100-028
- APU
- 60617100028
Description
This exceptional 20,256 square foot warehouse facility in Morton, Illinois, presents a compelling investment opportunity. Located at 80 Ashland Ct, 61550, this multi-tenant property boasts 150 units and sits on a 2.05-acre lot. Currently operating at 100% occupancy, generating a strong net operating income (NOI) of $101,660 and a 7.70% cap rate, this asset offers significant potential for future growth. The asking price is $1,320,000, translating to $65.17 per square foot. Built in 1998, the property has undergone recent renovations, enhancing its appeal and functionality. Key features include paved drive aisles, gated access with a keypad entry system for enhanced security, and roofs that were completely replaced in 2017, ensuring long-term structural integrity. Further upside potential exists through rental increases and tenant insurance revenue. This well-maintained, high-performing warehouse is ideally situated in Tazewell County, offering easy access to major transportation routes and a strong local market. The property's strong occupancy and proven income stream make it an attractive investment for both seasoned and emerging investors seeking a stable and appreciating asset in the Illinois industrial market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Morton
- County
- Tazewell
- State
- Illinois
- Longitude
- -89.47
- Latitude
- 40.6262
- CBSA code
- 37900
- CBSA name
- PEORIA, IL METROPOLITAN STATISTICAL AREA
