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 | |
Updated | October 4th, 2023 |
Type | Retail |
Price | $4,500,000 |
Building | 69,338 Sq. Ft. |
Land | 6.44 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