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614-616 State Route 116 614-616 State Route 116 Hwy 6,168 SF 100% Leased Office Building Germantown Hills, IL 61548 $395,000 ($64.04/SF) 11.89% Cap Rate
Executive Summary
This 6,168 SF office building is conveniently located in between Germantown Hills and Metamora. It could be an excellent investment or opportunity for you to locate your business in the vacant 1500 SF (just listed for lease at $1600/mo modified gross plus utilities) and have rental income from the leased spaces. Current long term tenant just signed a new lease and occupies 75% of the building - 1500 SF main floor and the lower unit with full kitchen, restroom and two garages. Projected rents are $61,200 and projected expenses are $14,235 (taxes, insurance, lawn/snow/garbage). The property includes a generous size parking lot, is all ADA compliant, and has business park association/co-ownership for access to the surrounding land, septic and water.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
6,168 SF
Building Class
B
Year Built
2015
Price
$395,000
Price Per SF
$64.04
Cap Rate
11.89%
NOI
$46,965
Percent Leased
100%
Building Height
1 Story
Typical Floor Size
6,168 SF
Building FAR
1.00
Lot Size
0.14 AC
Zoning
Commercial - General Commercial (Woodford County)
1 1
Not walkable
10/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 08-26-101-007 | Improvements Assessment | $79,966 |
| Land Assessment | $6,858 | Total Assessment | $86,824 |
Property Taxes
Parcel Number
08-26-101-007
Land Assessment
$6,858
Improvements Assessment
$79,966
Total Assessment
$86,824
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614-616 State Route 116 | 614-616 State Route 116 Hwy
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