Listed by Garrison Group, Inc.
$2,999,999
Centre@501
Details
APN 14340134015
Property Type Multifamily, Office
Sub Type Apartment Building, Traditional Office
Square Footage 50,691
Net Rentable (SqFt) 50,691
Units 25
Cap Rate 8.14%
Occupancy 95%
Tenancy Multi
Lease Type NNN
Lease Term 3
Class A
Year Built 1854
Year Renovated 2019
Buildings 1
Stories 3
Zoning s-3
Investment Type Stabilized
Multifamily | 25 units - 3 Commercial
Marketing description
Rare opportunity to own a mixed use masterpiece in the heart of downtown Springfield IL. Originally constructed in 1854 as the First United Methodist Church, this iconic structure has stood as a pillar of architectural heritage for decades. Thoughtfully rehabilitated in 1978 and again in 2019. It now offers a seamless blend of historic charm and contemporary living. 25 apartments, each with in unit washer and dryers, Island, large full bathroom, updated appliances, with every unit offering a different floorplan. 3 separate office spaces, 1 currently with long term lease agreement and 2 additional commercial spaces. A turnkey investment. Full basement with a full kitchen, bathrooms, and more! This space has a ton of additional potential, and income while currently sitting at an impressive NOI. Whether you're drawn to its storied past or its strong financial future, this building delivers both character and performance. A cornerstone of Springfields urban fabric, ready for its next visionary owner. 8.14% current Cap
Listing Contacts
Listed by Garrison Group, Inc.
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