Times Square Plaza of Crete 1395-1407 Main St 24,389 SF 100% Leased Retail Building Crete, IL 60417 $2,700,000 ($110.71/SF) 9.17% Cap Rate



INVESTMENT HIGHLIGHTS
- High visibility location
- Plenty of parking
EXECUTIVE SUMMARY
Discover a prime investment opportunity in the heart of Downtown Crete with this remarkable portfolio featuring six buildings, totaling 24,389 square feet on a generous 2.15-acre lot, all situated in Times Square Plaza. This comprehensive collection includes two office buildings, one restaurant, and two bars, alongside a mixed-use building that combines office, retail, and residential apartments. Recent exterior updates enhance the property's appeal, ensuring a modern look while maintaining its unique character. Times Square Plaza is not only a vibrant commercial hub but also hosts Crete's annual Country Christmas event, drawing significant foot traffic and community engagement. This strategic location guarantees high visibility, making it a coveted asset for any investor.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
24,389 SF
Building Class
C
Year Built
1968
Price
$2,700,000
Price Per SF
$110.71
Cap Rate
9.17%
NOI
$247,500
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.26
Lot Size
2.15 AC
Zoning
B-1 - Central Business District
NEARBY MAJOR RETAILERS



PROPERTY TAXES
Parcel Number | 23-15-09-331-005 | Improvements Assessment | $183,068 |
Land Assessment | $24,526 | Total Assessment | $207,594 |