$1 Auction – 26,947 SF Industrial Warehouse — Sale in Vandalia, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Industrial Property
  • Location: Vandalia, IL 62471
  • Year built: 1951

Description

Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace - https://rimarketplace.com/auction/3168/industrial/vandalia/il Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1015 West Jefferson Street in Vandalia, Illinois. The Property offers a practical small-bay industrial profile with dock loading, heavy power, office buildout, sprinklers, and recent renovations, making it well suited for an owner-user seeking a low-basis occupancy solution or an investor targeting lease-up. The subject property consists of approximately 26,947 square feet of warehouse space and is situated on 1.84 acres of land. The single-tenant asset features a clear height of 11’, two dock-high doors, masonry construction, and excess land for additional parking. Replaced in 2014, the well-conditioned roof passed a 2023 inspection. Equipped with 400 amps of heavy power, the property contains air circulation systems throughout the building. For sale as vacant, the property is ideal for owner use, with ownership costs now competing with leasing costs. With close proximity to Interstate 70, the asset sits an hour’s drive from downtown Saint Louis, Missouri in the Effingham/Central Illinois submarket. Effingham/Central Illinois is a large submarket containing 40 million square feet of industrial space across a large area. While net absorption has contracted through the first three quarters of 2024, the vacancy rate only increased 80 basis points to 2.9 percent. During Q3, annual rent growth slowed 100 basis points to 2.4 percent but has kept pace with the Consumer Price Index. Asking rents averaged about $6.40 per square foot in Q3, offering tenants a 9 percent discount compared to the nearby Saint Louis market. With only 125,000 square feet of industrial space under construction in Effingham/Central Illinois, new supply will essentially be a non-factor on vacancies and rents for the foreseeable future (CoStar). The Saint Louis metro is

Market Context

This industrial in Vandalia, IL is listed for sale. The building dates to 1951. It has been on the market for 86 days. Compare it against other industrial listings for sale in Vandalia, IL — view the full market.

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