Home Details for 501 S Lincoln Avenue

This 39,727-square-foot former school on 5.08 acres presents a compelling investment opportunity with stable in-place income and strong long-term potential. The property is anchored by a well-established private therapeutic day school occupying the entire second floor, providing reliable cash flow from a tenant with consistent demand for its services. Built in 1937, the structure is all brick and remains in solid overall condition, offering durable construction and reduced long-term capital expenditure exposure. The building's infrastructure is well suited for institutional use or adaptive reuse, featuring an 800-amp electrical service, a steam heat boiler system, and window air-conditioning units in most classrooms. A full gymnasium with a stage enhances functionality, while the full basement adds meaningful versatility with a cafeteria, abundant storage, a dedicated boiler room, and egress windows in most basement classrooms, supporting compliant educational or programmatic use. The property also includes a fenced playground, expansive grounds suitable for outdoor activities or expansion, and a detached two-car garage offering additional storage or operational support space. A flat rubber roof was recoated in 2021 and carries a ten-year warranty, reducing near-term maintenance requirements for an investor. With its combination of stable tenancy, strong physical fundamentals, and sizable acreage, this property offers multiple avenues for future value creation-whether through continued educational use, re-tenanting strategies, expanded programming, or broader redevelopment.

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