Illinois State Police Forensic Science Lab 1810 S Main St 13,200 SF Flex Building Morton, IL 61550 $2,900,000 ($219.70/SF) 8.24% Cap Rate
INVESTMENT HIGHLIGHTS
- 20 minutes to Peoria International Airport.
- Extensive cost improvements.
- Quick access to I-155 and I-74.
EXECUTIVE SUMMARY
Net lease investment opportunity for sale. 13,200 SF free standing building near Peoria IL. The Illinois State Police Department occupies this building for the last 45 years as a forensic lab. Recent improvements including new HVAC, parking lot and office renovations. The lease was recently renewed for ten (10) years with escalations.
High Replacement Cost at 1,000 SF; 50% of building is finished lab space, balance office. Value of the lab improvements are in excess
of +/- $40K.
High Replacement Cost at 1,000 SF; 50% of building is finished lab space, balance office. Value of the lab improvements are in excess
of +/- $40K.
PROPERTY FACTS
| Price | $2,900,000 |
| Price Per SF | $219.70 |
| Sale Type | Investment |
| Cap Rate | 8.24% |
| Property Type | Flex |
| Building Class | B |
| Lot Size | 1.58 AC |
| Rentable Building Area | 13,200 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1978/1988 |
| Tenancy | Single |
| Parking Ratio | 2.8/1,000 SF |
AMENITIES
- Bio-Tech/ Lab Space
1 of 1
PROPERTY TAXES
| Parcel Number | 06-06-29-115-037 | Improvements Assessment | $328,060 |
| Land Assessment | $81,170 | Total Assessment | $409,230 |
