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1318 Salem Road Mount Vernon, IL 62864 • Commercial - Industrial • New

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  • 1318 Salem Road , Mount Vernon, IL 62864 Main Photo

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Description

Excellent opportunity to own a 23,440-square-foot commercial warehouse in a high-traffic location on the north side of Mt. Vernon! This versatile property offers a great combination of existing rental income and room for additional business or investment opportunities. The front portion of the building is currently leased to a bar, while the middle section is occupied by a gym, leaving approximately 7,000 square feet available for an owner to occupy or lease for additional income. Upstairs, you'll find approximately 5,000 square feet of office space, providing even more flexibility for a variety of uses. The building is equipped with three-phase electrical service, central heating and air conditioning throughout most of the facility, and four drive-in doors. Two of the doors measure 12' wide by 14' high, while the additional doors measure 8' x 10' and 8' x 8', making the property well-suited for warehousing, distribution, storage, or other commercial operations. Location is another great feature, with convenient access and excellent exposure along a well-traveled road. According to IDOT, the average annual daily traffic count is approximately 5,850 vehicles. Whether you're an investor looking to expand your commercial portfolio or a business owner wanting space to operate while collecting rental income, this property offers plenty of possibilities. With its substantial square footage, established tenants, and additional space available, this is an opportunity worth exploring!

Property Highlights

Property Type: Commercial - Industrial
Building Description: 2.0 stories
Year Built: 1957

General Information

County: Jefferson
Listed By:
CAPPS REALTY 618-204-5260
MRED MLS
$599,000
Est. $4,117/mo
New to the Market New
SQUARE FEET23,440 MLS#12800639
STATUSNew PROPERTY TYPECommercial - Industrial

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1318 Salem Road , Mount Vernon, IL 62864.

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Loan Type 30 Year FixedFHA 30 Year Fixed15 Year Fixed
Purchase Price $599,000$599,000$599,000
Down Payment $119,800$20,965$149,750
Monthly Mortgage Amount $3,108$3,815$3,852
Taxes $834$834$834
Insurance $100$100$100
HOA/Dues/Fees $0$0$0
Monthly Mortage Insurance $0$264$0
Monthly Estimated Total $4,117$5,088$4,861

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About this area

Iowa/Mount Vernon
Mount Vernon

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Find homes for sale in Mount Vernon, Iowa, and learn about the local community and real estate market.

Mount Vernon is located in Linn County, Iowa. This vibrant town of 4,500 is a college community with – in the words of Budget Travel Magazine – “great coffee, food with character, and shop owners with purpose.” Cornell College, a liberal arts institution with 1,200 students, sits at the center of town. With parks, small businesses, and historical sites, Mount Vernon is a great place to call home.

Ruhl&Ruhl Realtors has homes for sale in Mount Vernon, IA for you to choose from. Continue browsing this page to see all houses for sale and real estate options in Mount Vernon, Iowa. Mount Vernon is located in the Cedar Rapids area, within Linn County, IA. For more real estate options, view homes for sale in the Cedar Rapid’s area.

 

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Cedar Rapids, IA 52402
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