500 S 8TH Street
Property Description
Prime Downtown Redevelopment Opportunity! Unlock the potential of this nearly 20,000 sq. ft. property, ideally located in the heart of the thriving downtown district and just steps from restaurants, shopping, nightlife, and entertainment. Priced significantly below a recent appraisal, this property offers an exceptional opportunity for an investor, developer, or entrepreneur ready to bring a vision to life. The main floor features an established commercial/event space that provides an excellent foundation for continued use or future redevelopment. One apartment has been completely renovated and is ready to go, while the remainder of the residential space has been gutted and is ready to be refinished and reimagined into another 11 units. With substantial space, a prime location, and endless possibilities for residential, commercial, or mixed-use development, this property offers the opportunity to create something truly special in the heart of downtown. Whether you're looking to build a unique rental portfolio, create additional residential units, expand commercial space, or develop a one of a kind mixed use destination, 500 S. 8th Street is a blank canvas with incredible potential.
Broker Details
Happel Inc., REALTORS (217) 224-8383
MLS ID: CA3371 State License Number: 475127805
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $475,000 |
| No. of Units: | 12 |
| Year Built: | 1900 |
| Opportunity Zone: | No |
| Price per unit: | $39,583 |
| Property Website | Click Here |
| Number of Bedrooms: | 1 |
| Number of Bathrooms: | 1 |
ID: 3yd-PAARIL-CA1047253
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