Springfield, IL 62703,2171 S 9TH ST
Springfield, IL 62703,2171 S 9TH ST
Springfield, IL 62703,2171 S 9TH ST
6
Listed by KyleT Killebrew • The Real Estate Group, Inc.
$510,000
$539,900
5.5%
Est.Price: ?

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13,830 SqFt

2171 S 9TH ST Springfield, IL 62703

Est. payment /mo
SOLD DATE : 04/26/2024

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Key Details

Sold Price $510,000

Property Type Commercial

Sub Type Commercial

Listing Status Sold

Purchase Type For Sale

Square Footage 13,830 sqft

Price per Sqft $36

MLS Listing ID CA1027446

Sold Date 04/26/24

Originating Board rmlsa

Annual Tax Amount $11,536

Tax Year 2022

Lot Size 1.470 Acres

Acres 1.47

Property Description

Tired of toilets? This expansive property presents opportunity! Combined of 6 buildings, it even offers a spacious 2BR rented apartment. With a total of 88 rentable units—86 mini-storage spaces, a singular apartment and a rental spot for trailers—this property is a testament to potential & profitability. Find a 40x40 (rented) electricity equipped building alongside another 14x40 building, both contributing to the property's appeal & revenue. Originally acquired at approximately 50% occupancy & in a severe state of disrepair, the current owner has completed multiple renovations to uplift the property's functionality & aesthetics. Improvements include seal coating, lighting, security enhancements / cameras and the addition of a remote-operated gate code system (upcoming). It's all enclosed by a newer, sleek black chain-link fence as well. These efforts have successfully raised occupancy from 50% to a commendable 76%. across the total rentable area of 13,830 sqft (plus trailer spot). The addition of Easy Storage Solutions software has streamlined management & the inclusion of a large extra lot offers room for expansion or designated off-street parking/storage. Financially, there has been impressive growth; current income after 3 months of leasing reached $63,660. Potential gross income upon full lease-up & market rate rent adjustments of $96,337. As current owner seeks to reinvest; this property is trending positively & presents a lucrative opportunity for a turnkey operation.

Location

State IL

County Sangamon

Area Springfield

Zoning I-2

Direction Located on S 9th St at Cornell Intersection

Interior

Heating Other

Cooling Other

Flooring Concrete, Other

Fireplace N

Exterior

View true

Roof Type Other

Garage 1

Building

Building Description Other, Wireless Internet

Faces Located on S 9th St at Cornell Intersection

Sewer Other

Water City Water - In Street

Structure Type Other

Others

Tax ID 22030308052

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Trenton McDonough

Agent | License ID: S67775000

+1(563) 579-3356

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