Property Listing No Longer Available for Sale

528 W Lincoln Ave, Charleston, IL

Retail for Sale - $4,500,000 - 69,338 Sq. Ft. on 6.44 acres


Property Info

CIMLS#1066687
Location
  528 W Lincoln Ave
  Charleston IL 61920
UpdatedOctober 4th, 2023
TypeRetail
Price$4,500,000
Building69,338 Sq. Ft.
Land6.44 acres

Property Description

69,338 SF KROGER GROCERY ANCHORED VALUE-ADD CENTER

• 85.35% Occupied Retail Center

• Add-Value Opportunity & Cap Rate Growth w/ Significant Upside Through Leasing the Remaining Vacant Spaces

• 14.65% Upside In Leasing Up Remaining 5 Vacant Spaces & ATM

• National Credit Tenants Anchored by Kroger, Dollar Tree & Goodwill

• Kroger Corporate Guarantee: Operating As Ruler Foods

• Outstanding Frontage & High Visibility Site

• Well Maintained Building w/ Recent Renovation in 2020

• New Modified Bituminous Roof & Parapet Metal Cap (West Building) - 20 Yr Warranty

• New Stucco Façade (West Building)

• Repaved Rear Service Drive

• Internet Resistant

• Located Just West of Eastern Illinois University

• Situated on Major Retail Corridor Surrounded By Numerous National & Regional Retailers

• Nearby I-57 & Coles County Memorial Airport

• Located Just West of Eastern Illinois University

• 90 Miles from Springfield

• 121 Miles from Indianapolis

• Priced Well Below Replacement Cost ($64.90 Price Per SF)

• 8.62% Cap Rate


Financials



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