2936 Bernice RdLansing, IL 60438

This mixed-use property in Lansing, IL, presents a compelling investment opportunity. The 2,960 square foot building, constructed in 1973, sits on a 6,250 square foot lot and features a blend of commercial and residential space. Currently, the property boasts 100% occupancy with three tenants, including two one-bedroom apartments generating $1,700 monthly rent and a 2,960 sq ft commercial office space generating $1,000 monthly rent. The current NOI is $5,534, with a pro-forma NOI of $18,734. The asking price is $229,900, representing a current cap rate of 8.50% and a pro-forma cap rate of 8.15%. The property includes 22 parking spaces and is zoned for commercial use. The building consists of two stories and is currently under a multi-tenant lease with a lease term of one year, commencing March 1, 2024, and expiring January 17, 2025. The property's prime location near shopping, dining, and major thoroughfares ensures high visibility and accessibility for tenants. This presents a unique opportunity to acquire a stable, income-producing asset with significant potential for future value appreciation through potential upgrades or customization. The property is offered fee simple.