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$ 69,000
Est. payment /mo
Active
228 MAIN Street Savanna, IL 61074
1,410 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Business/Retail
Listing Status Active
Purchase Type For Sale
Square Footage 1,410 sqft
Price per Sqft $48
MLS Listing ID 202506725
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! Two properties for the price of one — all under one roof! This versatile Main Street property adjoins the local movie theater and offers prime visibility with consistent rental income since 2022. Front Unit: Currently leased by The Man Cave Barbershop, a thriving business of over 3 years. Features excellent window exposure, a half bath, and a break room. ($500/month) Rear Unit: Accessed via a hallway, includes two large open rooms, an efficiency kitchenette, and a full bath. Currently rented as a residential unit with a reliable tenant in place. ($500/month) Both tenants are on month-to-month leases and pay all utilities, keeping owner expenses minimal. Total annual income of $12,000, with annual taxes and insurance combined at just $3,065.42, producing an estimated 17% gross cap rate and 13% net cap rate. Additional highlights include a small basement for storage, a new hot water heater (2023), and newer gas-forced air and A/C systems. Whether you're expanding your portfolio or seeking a steady income stream, this well-maintained property offers flexibility, stability, and an exceptional return in the heart of Savanna's vibrant downtown district. Seller is a licensed real estate agent.
Location
State IL
Schools
School District West Carroll
Others
Virtual Tour https://photos.app.goo.gl/jppZtWT2GnDD3jGW9
Listed by DC Rise Real Estate