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    Versatile Commercial Property on Broadway Title is generated by Realmo AI

    1719 Broadway Mt, Vernon, IL 62864

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    Claim this Listing
    For Sale
    $950,000

    COMMERCIAL - Mt Vernon, IL

    Property size:
    3,000 SF
    Lot size:
    1.58 Acres
    Price / SF:
    $316/SF
    Added:
    Feb 11, 2026
    Days on Market:
    90
    Last Refresh:
    May 12 at 11:06 am

    Property Features for 1719 Broadway Mt

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    0730456001
    Size
    3,000 SF
    Lot size
    1.58 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    3807

    Utilities

    Cooling system
    Central Air, Window Unit(s)

    Building Details

    Year built
    1950
    Floors in Building
    2
    Building materials
    Wood, Vinyl Siding, Brick/Stone Msn Pred

    We can help!

    Listing Contact
    Lisa McKinney
    Lisa McKinney

    Listing agent Lisa McKinney License #471003781

    Listing office C21 All Pro Real Estate 13035 N SHILOH DR, Mt.Vernon, IL

    Listing date Feb 11, 2026

    MLS# 12567209

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High‑Visibility Broadway Location with Corner Exposure on Three Streets
    • 1.58 Acres of Land with Expansion/Redevelopment Potential
    • 3,000+ Sq. Ft. Building with Flexible Layout for Various Commercial Uses
    • B2 Zoning Permits a Broad Range of Commercial Uses
    • Includes Residential Dwelling for Live/Work, Residence, or Rental Income
    • Easy Access and Great Signage Potential

    Overview

    This commercial property is located on Broadway and offers an excellent investment or owner-user opportunity. The site encompasses 1.58 acres and features high-visibility frontage on Broadway, as well as exposure on two additional streets. Currently used as a church, the property includes a spacious building with over 3,000 sq. ft. of functional space. The flexible floor plan is suitable for retail, office, worship, community use, or a gym, and it can also be converted to other commercial uses. The B2 zoning permits a broad range of commercial applications. The corner exposure provides exceptional visibility and traffic exposure. The property also includes an on-site home, currently occupied, which is perfect for live/work use, a residence, or leased income. The high-traffic Broadway frontage enhances business exposure, and the location is desirable for service-oriented businesses, retail, office space, or adaptive reuse. The generous site offers room for expansion, parking, or redevelopment.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Churches & religious facilities

    Map

    City
    Vernon
    County
    Marion
    State
    Illinois
    Longitude
    -88.9065
    Latitude
    38.3147

    Nearby Similar for Sale

    • $174,000

      Commercial Building in Prime Location

      Remodeled commercial building with income potential and flexible usage.
      903 Salem Road, Mt Vernon, IL 62864
      View Details
    • $149,900

      Commercial Building in High Traffic Area

      2700 SF commercial building on corner lot for sale.
      823 S 10TH Street, Mt Vernon, IL 62864
      View Details
    • $235,000
      3,538 SF

      Versatile Commercial Building on Broadway

      Two-story commercial building with high visibility and flexible use.
      329 BROADWAY Street, Mt Vernon, IL 62864
      View Details

    FAQs

    What type of property is this?
    Church & religious facility - High-visibility commercial property with flexible space and residential dwelling.
    Where is this church & religious facility located?
    The property is located at 1719 Broadway Mt Vernon, IL.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: High‑Visibility Broadway Location with Corner Exposure on Three Streets; 1.58 Acres of Land with Expansion/Redevelopment Potential; 3,000+ Sq. Ft. Building with Flexible Layout for Various Commercial Uses
    (618) 237-4525
    We can help!
    Listing Contact
    Lisa McKinney
    Lisa McKinney
    Real Estate License ID: 471003781
    Learn More
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    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.

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