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200 W Gallatin St 2,540 SF Office/Retail Condo Unit Offered at $300,123 CAD in Vandalia, IL 62471
INVESTMENT HIGHLIGHTS
- Long-term DMV tenancy with 50+ years of occupancy.
- Vacant bank space includes drive-thru canopy.
- High visibility at signalized intersection with 16,000± VPD.
- 9% cap rate with potential to reach 12% via lease-up.
- Located in Opportunity Zone with TIF & Enterprise Zone benefits.
- Surrounded by national retailers and strong local amenities.
EXECUTIVE SUMMARY
The property benefits from its location within an Opportunity Zone and qualifies for TIF and Enterprise Zone incentives, enhancing its appeal for investors seeking tax advantages and redevelopment support. With 16,000± vehicles per day passing the site, visibility and access are strong. Vandalia’s rich historical character and proximity to major cities—just 70 miles from St. Louis and 75 miles from Springfield—add to the long-term value proposition.
PROPERTY FACTS
| Total Building Size | 19,500 SF | Typical Floor Size | 19,500 SF |
| Property Type | Retail (Condo) | Year Built | 1972 |
| Property Subtype | Storefront Retail/Office | Lot Size | 1.25 AC |
| Building Class | C | Parking Ratio | 5.13/1,000 SF |
| Floors | 1 | Opportunity Zone |
Yes
|
| Zoning | C - Commercial | ||
| Total Building Size | 19,500 SF |
| Property Type | Retail (Condo) |
| Property Subtype | Storefront Retail/Office |
| Building Class | C |
| Floors | 1 |
| Typical Floor Size | 19,500 SF |
| Year Built | 1972 |
| Lot Size | 1.25 AC |
| Parking Ratio | 5.13/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | C - Commercial |
AMENITIES
- Signage
1 UNIT AVAILABLE
Unit 1
| Unit Size | 2,540 SF | Sale Type | Investment |
| Price | $300,123 CAD | Cap Rate | 9.00% |
| Price Per SF | $118.16 CAD | NOI | $27,011.05 CAD |
| Condo Use | Office/Retail |
| Unit Size | 2,540 SF |
| Price | $300,123 CAD |
| Price Per SF | $118.16 CAD |
| Condo Use | Office/Retail |
| Sale Type | Investment |
| Cap Rate | 9.00% |
| NOI | $27,011.05 CAD |
DESCRIPTION
Long-term DMV tenancy. DMV has been a tenant for more than 50 years at this location.
Value-add potential via lease-up.
SALE NOTES
Positioned at a signalized intersection in Vandalia’s Old Capitol Shopping Center, this investment property offers a rare blend of stability and upside. Anchored by the Illinois DMV, which has operated at this location for over 50 years, the site delivers immediate income with a 9% cap rate and potential to reach 12% through lease-up of the adjacent vacant bank space. The bank building includes a 659 SF interior and a 2,238 SF drive-thru canopy, ideal for financial services, quick-service retail, or medical use.
Presented by
200 W Gallatin St
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