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.
Reference ID: 202500162