2273 Washington Rd | Washington, IL 61571
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
2273 Washington Rd
Washington, IL 61571
Cash Flowing Retail Center with Huge Upside · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- High-Yield Retail Asset with Value-Add Upside: 98K+ SF shopping center on 12.59 acres. Currently 70% leased, offering significant lease-up potential.
- Institutional Grade Co-Tenants: National brands include AMC Theaters, Dollar General, and Papa John's, ensuring consistent foot traffic.
- Enterprise Zone and TIF Incentives: Up to 20% cost reimbursement for qualified improvements or development, along with real estate tax freeze
- Anchor Tenant: Learning Care Group(Childtime): Credit-grade tenant backed by Learning Care Group. Lease extends through 2031 with 18K SF leased.
- Two City Approved Shovel Ready Out Lot Pads: 4500K SF with drive thru along Route 8 and up to 30K SF along Summit Rd.
- Post-COVID Leasing Recovery Upside: 90% Occupancy pre-COVID. Stabilized pro-forma NOI at 90% occ. exceeds $540K, offering clear path to higher returns
PROPERTY FACTS
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Storefront
Building Size
21,323 SF
Building Class
C
Year Built
1970
Percent Leased
77%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.18
Lot Size
2.71 AC
Parcel Number
02-02-20-307-008
Zoning
B-1
Parking
113 Spaces (5.3 Spaces per 1,000 SF Leased)
1 of 1
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
