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1 W Main Street, Albion, IL 1 Main St 3,516 SF 100% Leased Retail Building Albion, IL 62806 $269,900 ($76.76/SF)
Investment Highlights
- Prime Downtown Location
- Major Updates & Move-In Ready Condition
- Mixed-Use Income Potential
Executive Summary
Outstanding mixed-use investment opportunity in the heart of downtown Albion! This versatile Main Street property offers a beautifully maintained commercial space on the main level and a stylish upper-level apartment/Airbnb featuring 2-3 bedrooms and 1 full bath. Whether you're looking to establish a retail shop, office, salon, studio, café, boutique, or continue operating it as a restaurant, this property offers endless possibilities.
The commercial level features an open layout with attractive finishes, two half baths, vinyl plank flooring installed in 2023, a tankless water heater added in 2025, and an existing commercial kitchen and equipment that can be utilized or adapted to suit a variety of business needs. Upstairs, you'll find a comfortable and inviting living space with a new washer and dryer included, making it ideal for owner occupancy, long-term rental income, or a successful short-term rental. Separate utility meters provide added flexibility for owners and tenants.
Major improvements include a new roof in 2021, replacement windows, and a new downstairs air conditioning system installed in 2025. Situated directly across from the town square, this prime location offers outstanding visibility, convenient on-street parking, and steady pedestrian and vehicle traffic. Whether you're an investor seeking multiple income streams, an entrepreneur looking for the perfect business location, or someone wanting the convenience of a live/work property, this unique opportunity is one you won't want to miss.
The commercial level features an open layout with attractive finishes, two half baths, vinyl plank flooring installed in 2023, a tankless water heater added in 2025, and an existing commercial kitchen and equipment that can be utilized or adapted to suit a variety of business needs. Upstairs, you'll find a comfortable and inviting living space with a new washer and dryer included, making it ideal for owner occupancy, long-term rental income, or a successful short-term rental. Separate utility meters provide added flexibility for owners and tenants.
Major improvements include a new roof in 2021, replacement windows, and a new downstairs air conditioning system installed in 2025. Situated directly across from the town square, this prime location offers outstanding visibility, convenient on-street parking, and steady pedestrian and vehicle traffic. Whether you're an investor seeking multiple income streams, an entrepreneur looking for the perfect business location, or someone wanting the convenience of a live/work property, this unique opportunity is one you won't want to miss.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$22,000
|
$6.26
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$22,000
|
$6.26
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$9,000
|
$2.56
|
| Net Operating Income |
$13,000
|
$3.70
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $22,000 |
| Annual Per SF | $6.26 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $22,000 |
| Annual Per SF | $6.26 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $9,000 |
| Annual Per SF | $2.56 |
| Net Operating Income | |
|---|---|
| Annual | $13,000 |
| Annual Per SF | $3.70 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,516 SF
Building Class
B
Year Built
1900
Price
$269,900
Price Per SF
$76.76
Percent Leased
100%
Building Height
2 Stories
Building FAR
2.18
Lot Size
0.04 AC
Opportunity Zone
Yes
Somewhat walkable
30/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 10-02-429-014 | Improvements Assessment | $61,150 (2024) |
| Land Assessment | $5,190 (2024) | Total Assessment | $66,340 (2024) |
Property Taxes
Parcel Number
10-02-429-014
Land Assessment
$5,190 (2024)
Improvements Assessment
$61,150 (2024)
Total Assessment
$66,340 (2024)
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1 W Main Street, Albion, IL | 1 Main St
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