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Old Capitol Mall 13 Old Capitol Mall

19,500 SF 10% Leased Retail Building Vandalia, IL 62471 $425,000 ($22/SF)

Mixed Use Properties Illinois Vandalia 13 Old Capitol Mall, Vandalia, IL 62471

Investment Highlights

  • Signaized Intersection.
  • Loading dock with two rollup doors.
  • Enterprise Zone/Opportunity Zone.
  • Busiest Intersection in the County.
  • Vacant bank drive-through.
  • 16,000 +/- VPD.

Executive Summary

Great opportunity to purchase high vacancy building and enjoy huge upside profit through leasing the vacant space (estimated 27% CAP Rate if leased). OWNER FINANCING. Property is located in an Opportunity Zone giving tremendous tax benefits. The City has TIF (Tax Increment Financing) grants available for renovating buildings that bring business into the downtown area. The State of Illinois Drivers License Office has leased approx 1900 SF in the center for more than 50 years and just renewed for another 5 years. Estimates for new roof is approx $130,000 and new HVAC is approx $82,000. Dollar General occupies a space in the center, but is not included in this offering.

Attachments

Old Capital Center, Vandalia (For Sale)

Property Facts

Sale Type
Investment or Owner User
Sale Conditions
Lease Option
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
19,500 SF
Building Class
C
Year Built
1972
Price
$425,000
Price Per SF
$22
Percent Leased
10%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.36
Lot Size
1.25 AC
Opportunity Zone
Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning
C - Commercial
Parking
100 Spaces (5.13 Spaces per 1,000 SF Leased)
Frontage
240 FT on West Gallatin

Amenities

  • Signage

Space Availability

  • Space
  • Size
  • Space Use
  • Position
  • Available
  • 13
  • 17,134 SF
  • Retail
  • End Cap
  • 30 Days

Retail space in shell condition ready for customization.

Space Size Space Use Position Available
13 17,134 SF Retail End Cap 30 Days

13

Size
17,134 SF
Space Use
Retail
Position
End Cap
Available
30 Days

13

Size 17,134 SF
Space Use Retail
Position End Cap
Available 30 Days

Retail space in shell condition ready for customization.

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PROPERTY TAXES

Parcel Numbers
Multiple
  • 18-14-16-406-006
  • 18-14-16-406-003
 Improvements Assessment $121,225
Land Assessment $22,390 Total Assessment $143,615

PROPERTY TAXES

Parcel Numbers
Multiple
  • 18-14-16-406-006
  • 18-14-16-406-003
Land Assessment
$22,390
Improvements Assessment
$121,225
Total Assessment
$143,615
(704) 987-0000

Contact

  • Listing ID: 29219249

  • Date on Market: 8/8/2023

  • Last Updated:

  • Address: 13 Old Capitol Mall, Vandalia, IL 62471

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Old Capitol Mall | 13 Old Capitol Mall
(704) 987-0000 x

Old Capitol Mall | 13 Old Capitol Mall

Brad Bowman

(704) 987-0000

(704) 987-0000

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