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119 W 3rd St
Alton, IL 62002
Retail Property For Sale
Investment Highlights
- Located in the heart of downtown Alton near the Mississippi River and entertainment district
- Walkable location with proximity to local dining, nightlife, and retail venues
- Ample storage area presents an opportunity for future expansion into apartments or offices
- Additional salon space and retail component enhance revenue diversity
Executive Summary
Excellent investment opportunity to own a mixed-use commercial property in the heart of downtown Alton's entertainment district, just blocks from the Mississippi River. This income producing building features a restaurant and bar on the main level, complete with a fenced outdoor patio perfect for dining, entertainment, and special events. The upper levels include four residential apartments(2-two bedroom and 2-one bedroom apartments), providing consistent rental income. An expansive storage area offers great potential for redevelopment into additional apartment units, creating upside for future cash flow. Also located on the main level is a salon space and restaurant/retail area with outside patio, adding additional income streams and enhancing the property's diverse investment income mix. With its combination of commercial, residential, and redevelopment potential, this unique property offers a rare chance to invest in one of Alton's desirable downtown locations.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
8,390 SF
Building Class
C
Year Built
1928
Price
$699,000
Price Per SF
$83.31
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Zoning
Commercial - C-2
Parking
3 Spaces (0.36 Spaces per 1,000 SF Leased)
Frontage
68’ on 3rd St
Amenities
- Signage
Property Taxes
| Parcel Numbers | Improvements Assessment | $188,400 | |
| Land Assessment | $8,550 | Total Assessment | $196,950 |
Property Taxes
Parcel Numbers
Land Assessment
$8,550
Improvements Assessment
$188,400
Total Assessment
$196,950
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