Property Listing No Longer Available for Sale

715 E State St, Geneva, IL

Others for Sale - $650,000


Property Info

CIMLS#1077990
Location
  715 E State St
  Geneva IL 60134
UpdatedJanuary 27th, 2021
TypeOthers
Price$650,000

Property Description

Fully leased multi-tenant mixed use property for sale downtown Geneva. Join national retailers like CVS and Aldi. Versatile retail/office space on the first floor is easily adapted to one, two, three or four tenant use. Currently the first floor is rented as three units. The building is comprised of a 4000 sf retail unit in the back, approximately 5000 sf of retail in the front with 4 easy to rent residential apartments upstairs. The space in the building is very versatile. Originally it was a single use building (Soukup Appliance). The building was divided into several units to make it easy to lease. It can easily be opened up for a single tenant/user. As an investment property the building provides an excellent return of over 11% at the list price. For an owner user the apartment rent alone can cover most of a mortgage with 20% down! There is a possibility of a TIF incentive from the city. The rear unit features an overhead door. Additional access to/from Eastside Drive via easement behind CVS. Municipal parking lot behind the building could unlock potential added value. This one generates tons of cash (almost a 10.5 cap at list)! Call for a confidential rent roll.


Financials


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