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635 S Lincoln Ave 3,036 SF 100% Leased Retail Building O'Fallon, IL 62269 $275,000 ($90.58/SF)
Executive Summary
Commercial Property with Potential for Increased Value with Upstairs Apartment
Marketing description
Prime corner lot on South Lincoln, offering high-traffic exposure in O'Fallon, IL. This property features two buildings with multiple income-generating opportunities, ideal for owner-occupiers looking to offset costs with rental income. The main building (633-635) includes two ground-floor commercial spaces: a long-standing alterations/seamstress business ($700/month) and a larger office/retail space that currently is leased to a mental health professional ($1,000/month + $200 for utilities graduating $100/month each of the next two years). The second-floor space, accessible via a separate entrance at 102 W. 7th, was formerly a residential apartment and offers additional value-add potential if renovated and brought up to code. Across the paved parking lot, the second building (625) houses a hair salon generating $585/month. The interior photos included are of the main floor, larger space that will be vacant and ready for a new occupant! Don't miss out on this versatile property with great income potential. Contact us today for more details or to schedule a showing!
Call us today to schedule a showing!
Investment highlights
Detailed Square Footage:
633/635 First Floor (Formerly leased as Counseling Offices and Alterations Business): 1,600 SF. The alterations business (633) is still active, but the counseling office (635) will be ready for an owner to occupy in May!
635 Second Floor (2 Bedroom Apartment, currently vacant): 824 SF
625 (Currently Leased as Hair Braiding Business): 612 SF
Monthly Rents: (All Gross Leases with LL paying utilities minus electric bill at 625)
625: $585
633: $700
635: Perfect for owner occupied
Contact us today for a showing!
Jeff Franke Email: jeff@choosekwg.com Phone: 618-792-9693
Kevin Beck Email: kevin@choosekwg.com Phone: 618-550-8762
Marketing description
Prime corner lot on South Lincoln, offering high-traffic exposure in O'Fallon, IL. This property features two buildings with multiple income-generating opportunities, ideal for owner-occupiers looking to offset costs with rental income. The main building (633-635) includes two ground-floor commercial spaces: a long-standing alterations/seamstress business ($700/month) and a larger office/retail space that currently is leased to a mental health professional ($1,000/month + $200 for utilities graduating $100/month each of the next two years). The second-floor space, accessible via a separate entrance at 102 W. 7th, was formerly a residential apartment and offers additional value-add potential if renovated and brought up to code. Across the paved parking lot, the second building (625) houses a hair salon generating $585/month. The interior photos included are of the main floor, larger space that will be vacant and ready for a new occupant! Don't miss out on this versatile property with great income potential. Contact us today for more details or to schedule a showing!
Call us today to schedule a showing!
Investment highlights
Detailed Square Footage:
633/635 First Floor (Formerly leased as Counseling Offices and Alterations Business): 1,600 SF. The alterations business (633) is still active, but the counseling office (635) will be ready for an owner to occupy in May!
635 Second Floor (2 Bedroom Apartment, currently vacant): 824 SF
625 (Currently Leased as Hair Braiding Business): 612 SF
Monthly Rents: (All Gross Leases with LL paying utilities minus electric bill at 625)
625: $585
633: $700
635: Perfect for owner occupied
Contact us today for a showing!
Jeff Franke Email: jeff@choosekwg.com Phone: 618-792-9693
Kevin Beck Email: kevin@choosekwg.com Phone: 618-550-8762
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
3,036 SF
Building Class
C
Year Built
1897
Price
$275,000
Price Per SF
$90.58
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.32
Lot Size
0.22 AC
Zoning
Commercial
Parking
20 Spaces (6.59 Spaces per 1,000 SF Leased)
Frontage
140’ on South Lincoln
Amenities
- Corner Lot
- Air Conditioning
Walk Score®
Very Walkable (81)
Nearby Major Retailers
Property Taxes
| Parcel Number | 04-30.0-431-021 | Improvements Assessment | $71,977 |
| Land Assessment | $5,657 | Total Assessment | $77,634 |
Property Taxes
Parcel Number
04-30.0-431-021
Land Assessment
$5,657
Improvements Assessment
$71,977
Total Assessment
$77,634
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635 S Lincoln Ave
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