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13 Old Capitol Shopping Ctr
Vandalia, IL 62471

$155,000 USD

Storefront Retail Office Condo For Sale  •  2,540 SF

Property Details

  • Property Type Storefront Retail Office
  • Total Building Size 2,540 SF
  • Lot Size 0.41 AC
  • Building Class C
  • Year Built 1972
  • Tenancy Multiple
  • Zoning C
30 Walk Score

1 Unit Available

Name Condo Use Size Price Details
1st Floor - Unit 1 Office/Retail 2,540 SF $155,000 USD
  • Unit Size: 2,540 SF
  • Condo Use: Office/Retail
  • Price: $155,000 USD
  • Sale Type: Investment
  • Price/SF: $61.02 USD
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 12.45% cap rate and potential to reach 16.7% + 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.

The property features tax incentives due to Opportunity Zone and development or improvement funds may be available through TIF program.

Description 

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.

Highlights

Long-term DMV tenancy with 50+ years of occupancy.
12.45% cap rate with potential to reach 16.7%+ via lease-up.
Vacant bank space includes drive-thru canopy.
Located in Opportunity Zone with TIF & Enterprise Zone benefits.
High visibility at signalized intersection with 16,000± VPD.
Surrounded by national retailers and strong local amenities.

Property Flyers

Amenities

  • Signage

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 10
Type: Surface
Included in Rent: Yes
Brad Bowman 704-987-0000 First Federal Properties, Inc.
Brad Bowman 704-987-0000 First Federal Properties, Inc.