957 W Washington St., Pittsfield, IL 62363
sale
$429,000
|
Other
Courtesy Of Hometown Real Estate
Exceptional investment opportunity in one of Pittsfield's most desirable commercial corridors! This well-maintained commercial strip center features five spacious rental units and currently generates $42,600 in annual gross rental income. The property is occupied primarily by long-term tenants with established businesses, providing dependable cash flow and investment stability. Several leases also include built-in escalation clauses, offering the potential for increasing rental income in future years. This property has also undergone significant capital improvements within the past 12 months, making it an attractive, low-maintenance investment for years to come. Recent upgrades include new siding, a new standing seam metal roof, new gutters, new fascia, and new soffit, providing both exceptional curb appeal and long-term durability while minimizing future maintenance expenses. Location is everything, and this property delivers. Situated on approximately 170 feet of frontage along Washington Street, the strip center enjoys one of the highest traffic counts in Pittsfield, strategically positioned between the city's grocery store and Walmart. This premier location provides outstanding visibility, easy access, and consistent exposure to both local and regional traffic. The property also offers a large paved parking lot, making it convenient for customers and employees while enhancing the long-term value of the investment. Whether you're looking to expand your investment portfolio or complete a 1031 exchange, this income-producing commercial property offers a rare opportunity to own a high-visibility retail center with established tenants, reliable income, and excellent upside potential through future rent increases. Property Highlights Five spacious commercial rental units $42,600 annual gross rental income Mostly long-term tenants with established businesses Multiple leases include rent escalation clauses for future income growth Major exterior improvements completed within the past 12 months: New siding New standing seam metal roof New gutters New fascia New soffit Approximately 170 feet of frontage on Washington Street One of Pittsfield's highest traffic commercial locations Located between Walmart and the grocery store Large paved parking lot with excellent customer access Outstanding long-term investment with stable cash flow and upside potential Commercial investment opportunities of this caliber are difficult to find. Combining a premier location, dependable rental income, quality long-term tenants, and substantial recent capital improvements, this strip center is well-positioned to provide strong cash flow, minimal near-term maintenance costs, and excellent long-term appreciation potential for the next owner.
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Property Features
- MLSID: 11904347
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