1908 State St - Health Club FOR SALE


Granite City, IL 62040
$240,000 USD
618-791-7663
1908 State St, Granite City, IL for Sale
$240,000 USD
Health Club - FOR SALE
1/8
null | Request Cap Rate

1908 State St
Granite City, IL 62040


HIGHLIGHTS

  • Great opportunity for a multi use facility
  • Located in heart of downtown Granite City
  • Main level is being used as a gym for "Tank Training". 2nd level is leased until 2027 with a gross lease at $4,000 per year
  • Gym equipment has an approx. value of $200,000 new with actual resale value closer to $115,000
  • Potential to complete 3 apartments and a showroom or boutique on the main level end cap
  • unlimited potential for additional parking lots in rear

OVERVIEW

Great opportunity for a multi use facility in downtown Granite City close to Granite City Steel & Gateway Regional Hospital. Main level use is gym for "Tank Training" which is owner occupied. Property includes 3 vacant lots in rear on the south on Grand Ave. PP#22-2-19-24-12-202-050, 22-2-19-24-12-202-051 & 22-2-20-19-05-101-042. Tax on 3 lots rear $119. The extra lots would be ideal for a large parking lot in order to enter from the rear of the building. The rear lots could also facilitate potential for a baseball, soccer or exterior volleyball sporting events. The property at 1906 on the west side of the building is being totally remodeled. Rubber Modified roof 2019. Existing elevator at this building was fully operational 10 years ago but could potentially be operational again. Upstairs unit is currently rented until 2027 for $8,000 a mo. with lease rate increases annually. Seller has reserved the right to give lessee 60 days notice to vacate the premises.

FOR SALE DETAILS

PRICE

$240,000 USD

PRICE/SF

$11 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Health Club

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1940

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,632 SF

ZONING

C-4

APN/PARCEL ID

22-2-19-24-12-202-002,22-2-19-24-12-202-005,22-2-19-24-12-202-050,22-2-19-24-12-202-051,22-2-20-19-05-101-042

ASK ABOUT THIS PROPERTY

Jim ReppellRE/MAX AllianceMore Info
618-791-7663

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Jim ReppellRE/MAX AllianceMore Info
618-791-7663

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.