Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1309 SOUTH MAIN STREET Monmouth, IL 61462

    View on Map
    Claim this Listing
    New
    Picture of Commercial land at 1309 SOUTH MAIN STREET, Monmouth, IL
    For Sale
    $30,000

    Vacant Land - MONMOUTH, IL

    Lot size:
    0.56 Acres
    Added:
    Apr 10, 2026
    Days on Market:
    7
    Last Refresh:
    Apr 16 at 3:06 am

    Property Features for 1309 SOUTH MAIN STREET

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    200
    Parking features
    Garage
    Standard status
    Active
    APN
    0904405200
    Lot size
    0.56 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    381

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Janet Cook

    Listing agent Janet Cook

    Listing office Maple City Realty, LP 107 East Broadway, Monmouth, IL

    Listing date Apr 10, 2026

    MLS# 11689616 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Vacant Land in Monmouth, IL

    This vacant land was formerly the site of the Adams Oil Station, originally built in 1943. The tanks and contaminated soil have been removed, and an EPA Corrective Action Completion Report was filed in 2015. The property, located in Monmouth, IL, comprises 0.56 acres. Currently, there are no water or sewer connections on the lot, and it is not construction-ready. Situated within the Enterprise Zone, all permit fees are waived; however, inspection and tap fees would apply prior to any permitting under the plan review. The zoning is 200.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Monmouth
    County
    Warren
    State
    Illinois
    Longitude
    -90.647905
    Latitude
    40.924519

    Nearby Similar for Sale

    • $119,900
      1,260 SF

      Move-in Ready Commercial Office Building

      Professional commercial office building designed to elevate your business.
      115 S First St, Monmouth, IL 61462
      View Details
    • $295,000
      3,480 SF

      Leased Commercial Property in Monmouth

      Three leased offices, including Secretary of State Driver's License Services.
      318 North Main Street, Monmouth, Illinois 61462, IL 61462
      View Details
    • $15,000

      Monmouth, IL Vacant Corner Lot

      Combined parcel totaling 0.51 acre corner lot for sale.
      000 S C Street, Monmouth, IL 61462
      View Details
    • $490,900
      16,984 SF

      Monmouth Commercial Property on Five Acres

      Commercial property with three buildings on five acres in Monmouth.
      1420 North Main Street, Monmouth, IL, IL 61462
      View Details
    • $1,400,000

      Income-Producing Multifamily Asset in Monmouth

      Fully stabilized 18-unit multifamily property with strong occupancy.
      620 E Broadway, Monmouth, IL 61462
      View Details
    • $375,000
      12,915 SF

      Monmouth Commercial Building on 1.72 Acres

      Commercial building with showroom, storage, and expansion potential.
      1100 E JACKSON Avenue, Monmouth, IL 61462
      View Details
    • $398,500
      3,648 SF

      Retail Property on North Main

      3648 SF retail space with parking in Monmouth, Illinois.
      420 North Main Street, Monmouth, IL 61462
      View Details
    • $160,000

      Monmouth Multifamily Investment Opportunity

      Five-unit multifamily property in Monmouth, Illinois with value-add potential.
      313 E Broadway, Monmouth, IL 61462
      View Details
    • $140,000

      Monmouth Multifamily Investment Opportunity

      Five-unit multifamily property in Monmouth, Illinois with value-add potential.
      211 W Broadway, Monmouth, IL 61462
      View Details
    • $240,000

      Monmouth Multifamily Investment Opportunity

      Ten-unit multifamily property in Monmouth, Illinois with value-add potential.
      315 N 1st St, Monmouth, IL 61462
      View Details
    • $396,423
      3,253 SF

      Monmouth Animal Hospital Investment Opportunity

      NNN leased animal hospital with recent lease extension.
      360 N 11th St, Monmouth, IL 61462
      View Details
    • $35,000

      Residential Land in Fairway Woods

      Vacant lot in Fairway Woods subdivision, Monmouth, Illinois.
      13 Wedgewood Dr., Monmouth, IL 61462
      View Details

    FAQs

    What type of property is this?
    Commercial land - Vacant land, site of former Adams Oil Station.
    Where is this commercial land located?
    The property is located at 1309 SOUTH MAIN STREET Monmouth, IL.
    What is the asking price?
    The asking price for this property is $30,000.
    What are key features of this property?
    This property features: EPA Corrective Action Completion Report filed in 2015 indicating environmental remediation.; Located within an Enterprise Zone, waiving permit fees.; Includes a garage.
    (309) 734-7130
    We can help!
    Listing Contact
    Janet Cook
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!