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Listed by Jacquelyn Weisenburger of Happel, Inc., REALTORS
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Listed by Raul Rodriguez • eXp Realty
$195,000
Est. payment /mo
3,150 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Pending
Purchase Type For Sale
Square Footage 3,150 sqft
Price per Sqft $61
MLS Listing ID PA1262986
Year Built 1900
Annual Tax Amount $2,119
Tax Year 2023
Property Sub-Type Commercial
Source rmlsa
Property Description
Main Street Investment Opportunity – 5 Units + Laundry Income + Value-Add Potential Turn-key Investment! Rare opportunity to acquire a five-unit mixed-use investment property located on Main Street in Toulon, IL. Situated on a corner lot in Stark County's central business district, this property offers stable in-place income with additional upside through modest rent increases and improved use of existing space. The building includes five residential units, on-site laundry income, and a basement with potential for an additional revenue stream. Fully occupied, consistent cash flow, attractive low-turnover asset in a limited-inventory rental market. The property is located next to Toulon Tap, a well-known local bar contributing to steady activity and community presence. *The bar and bar building are not included in the sale.* A public park sits directly behind the property, and nearby amenities include Dollar General, City Hall, medical services, Stark County schools (Niche Grade B-), and access to the Rock Island Trail. Conveniently located approximately 18 minutes from Kewanee, IL. Investment Highlights 5 income-producing units Additional laundry revenue Finished basement with income potential Corner Main Street location Stable tenancy with upside opportunity Financial Snapshot Current Monthly Revenue: $2,850 Pro-Forma Monthly Revenue: $3,950 Current NOI: $26,790 Pro-Forma NOI: $39,990 Projected Cap Rate: ~11% with upside Do not disturb tenants! Make an offer!
Location
State IL
County Stark
Area Paar Area
Zoning Commercial
Direction Google Maps. Right in the center of town on the main street Infront of the courthouse
Interior
Heating Electric, Other
Cooling Central Air
Flooring Other, Tile
Fireplace N
Exterior
View true
Roof Type Composition,Flat
Garage 1
Building
Faces Google Maps. Right in the center of town on the main street Infront of the courthouse
Sewer Public Sewer
Structure Type Brick
Others
Tax ID 04-19-327-004
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