Log In/Sign Up
Your email has been sent.
Lake-access Boat & RV Conversion opportunity 11596 & 11638 IL Highway 1 61,350 SF 100% Leased Industrial Building Paris, IL 61944 $3,100,000 ($50.53/SF) 8.91% Cap Rate
INVESTMENT HIGHLIGHTS
- 7.39-acre site with 31,350 NRSF warehouse space and room for expansion
- Entrance to property within ½ block of primary boat launch
- 5-mile vehicle, boat & RV NRSF per capita of 1.14 (per StorTrack)
- Annexes the Twin Lakes, the area’s main all-sports lake
- One of the existing warehouses is fitted with 16’ x 20’ overhead doors
EXECUTIVE SUMMARY
On behalf of the Seller, Friedman is proud to bring this exciting conversion opportunity to market in Paris, IL (Springfield market). This represents a unique opportunity for an aspiring Boat & RV storage operator to have the only facility in the area that is actually on Twin Lakes. Twin Lakes is an all-sport lake with no facilities offering lake access. Better still, there is no need to build a boat launch as the property is ideally located within a few hundred feet of each of Twin Lake's public boat launches.
Simply rehab the existing warehouses, add additional buildings if desired, and build and access drive to the south, and this facility is ready to go.
Purchase the land separately or, if purchased at full-price, the seller will pre-fund renovation and construction of a 61,350 SF, 122 units for an additional $2.3MM.
Simply rehab the existing warehouses, add additional buildings if desired, and build and access drive to the south, and this facility is ready to go.
Purchase the land separately or, if purchased at full-price, the seller will pre-fund renovation and construction of a 61,350 SF, 122 units for an additional $2.3MM.
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $3,100,000 | Lot Size | 7.39 AC |
| Price Per SF | $50.53 | Construction Status | Under Renovation |
| Sale Type | Investment | Rentable Building Area | 61,350 SF |
| Cap Rate | 8.91% | No. Stories | 1 |
| Property Type | Industrial | Year Built | 1972 |
| Property Subtype | Warehouse | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | CM - Commercial | ||
| Price | $3,100,000 |
| Price Per SF | $50.53 |
| Sale Type | Investment |
| Cap Rate | 8.91% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 7.39 AC |
| Construction Status | Under Renovation |
| Rentable Building Area | 61,350 SF |
| No. Stories | 1 |
| Year Built | 1972 |
| Opportunity Zone |
Yes |
| Zoning | CM - Commercial |
1 1
PROPERTY TAXES
| Parcel Number | 09-13-25-200-034 | Improvements Assessment | $49,870 (2023) |
| Land Assessment | $11,790 (2023) | Total Assessment | $61,660 (2023) |
PROPERTY TAXES
Parcel Number
09-13-25-200-034
Land Assessment
$11,790 (2023)
Improvements Assessment
$49,870 (2023)
Total Assessment
$61,660 (2023)
1 of 14
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Lake-access Boat & RV Conversion opportunity | 11596 & 11638 IL Highway 1
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.