Property Listing No Longer Available for Sale

1460-1490 Douglas Road, Montgomery, IL

Shopping Center for Sale - $1,200,000 - 12,903 Sq. Ft. on 49299.44 acres


Property Info

CIMLS#731453
Location
  1460-1490 Douglas Road
  Montgomery IL 60538
UpdatedAugust 19th, 2014
TypeShopping Center
Price$1,200,000
Building12,903 Sq. Ft.
Land49299.44 acres

Property Description

Multi-tenant strip center available for sale along the Douglas Road retail corridor in Montgomery. The center consists of 12,903 square feet spread over three (3) units. The center is currently 50% by tenants Merlin Automotive and Sound Decisions. The remaining unit contains nine (9) overhead doors and was most recently occupied by Goodyear. The vacant unit has since then been maintained at the highest of standards.

Excellent opportunity for either an owner/user or an investor to purchase a multi-tenant strip center with strong income in place and add value by leasing up the vacant end cap unit. The property is located in an ideal retail spot in Montgomery with 262 feet of frontage along Douglas Road. Plenty of parking available on-site.

Location Description:

The property is ideally located on the Douglas Road retail corridor between Lincoln Highway to the south and Montgomery Road to the north in Montgomery. Douglas Road is heavily traveled, averaging nearly 20,000 vehicles per day. There are a ton of national retailers along Douglas Road including Walgreens, Dunkin Donuts, Jiffy Lube, Dairy Queen, Burger King, KFC, Family Dollar, Dollar Tree, and Radio Shack, among others.

Highlights:

>> 12,903 square foot, multi-tenant strip center with two tenants currently in place

>> Merlin Automotive is the larger of the two tenants and has plenty of term remaining on lease

>> Both tenants have been at the property since original development in 1991

>> Excellent location along Douglas Road with exposure to nearly 20,000 VPD

>> The vacant unit is in great condition and has been maintained at the highest of standards

>> Plenty of parking available on-site

* Email for additional photos

** This property also has spaces available for lease.


Financials