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Savanna,IL 61074
Key Details
Property Type Single Family Home, Commercial
Sub Type Business/Retail
Listing Status Active
Purchase Type For Sale
Square Footage 1,410 sqft
Price per Sqft $54
Subdivision Il
MLS Listing ID 202500162
Annual Tax Amount $527
Tax Year 2022
Lot Size 1,306 Sqft
Property Sub-Type Business/Retail
Property Description
Solid Commercial Investment Opportunity in Downtown Savanna, Illinois Nestled on Main Street and adjoining the local movie theater, this versatile commercial property offers an exceptional investment opportunity. With the capacity to accommodate two separate businesses, this property is an attractive choice for savvy investors. The front space provides excellent window exposure for high visibility and features a half bath and break room for convenience. It is currently leased by The Man Cave Barbershop, a thriving business that has been a tenant for over two years. The rear space, accessible via a hallway, includes two large open rooms, an efficiency kitchenette, and a bathroom. This area is currently rented as a residential unit with a tenant in place for over a year. There is also a small basement great for storage! Both spaces are leased on a month-to-month basis, providing flexibility for future use. The property generates a total annual rental income of $10,800, with minimal expenses as tenants cover utilities. Annual taxes and insurance come in under $2,000, resulting in an impressive 11.17% cap rate. Additional features include a new hot water heater installed in 2023 and newer gas-forced air and air conditioning systems, ensuring energy efficiency and reliability. Whether you're looking to expand your portfolio or secure a steady income stream, this property offers significant potential with its prime location and strong tenant history. Don't miss this opportunity to invest in the heart of Savanna's vibrant downtown district! Seller is a licensed real estate agent.
Location
State IL
County Carroll County
Zoning Commercial
Rooms
Basement Unfinished,Partial,Cement Poured
Interior
Hot Water Natural Gas
Heating Gas Forced Air
Flooring Vinyl
Exterior
Exterior Feature Brick,Masonite,Stone
Roof Type Rubber
Building
Sewer City
Water City
Schools
School District West Carroll
Others
Virtual Tour https://photos.app.goo.gl/jppZtWT2GnDD3jGW9