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

    200 N BROOKS Avenue Centralia, IL 62801

    View on Map
    For Sale
    $530,000

    COMMERCIAL - Centralia, IL

    Lot size:
    2.61 Acres
    Added:
    Jan 6, 2023
    Days on Market:
    1188
    Last Refresh:
    Apr 8 at 3:06 am

    Property Features for 200 N BROOKS Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    B-3
    Standard status
    Active
    APN
    151413201020
    Lot size
    2.61 Acres

    Taxes and HOA fees

    Tax Year
    2022
    Tax Annual Amount
    7052

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer

    We can help!

    Listing Contact
    JAMES T SOMER

    Listing agent JAMES T SOMER License #471004184

    Listing office SOMER REAL ESTATE 907 W MAIN STREET, Salem, IL

    Listing date Jan 6, 2023

    MLS# EB447411

    Copyright © 2025 RMLS Alliance. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Commercial Land in Centralia, IL

    This 2.61-acre commercial parcel is located in a B-3 commercial district and offers high traffic exposure. The property is being sold as one parcel as listed, or it can be partitioned at $4.66 per square foot. The property is located in Centralia, Illinois.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Centralia
    County
    Marion
    State
    Illinois
    Longitude
    -89.1673
    Latitude
    38.5134

    Nearby Similar for Sale

    • $300,000

      Versatile Commercial Property in Centralia

      Highly visible commercial property with flexible space and recent updates.
      705 S POPLAR Street, Centralia, IL 62801
      View Details
    • $84,000

      Versatile Commercial Building in Centralia

      High-visibility commercial property with offices, retail, and warehouse space.
      125 N Walnut Street, Centralia, IL 62801
      View Details
    • $119,900

      Centralia Commercial Office Building For Sale

      Commercial office building near hospital, suitable for medical or other businesses.
      205 N DAVIS Avenue, Centralia, IL 62801
      View Details
    • $18,500

      Centralia Land on Main Thoroughfare

      Double lot in Centralia business corridor with high visibility.
      823 N Elm Street, Centralia, IL 62801
      View Details
    • $119,900

      Centralia IL Brick Duplex

      All brick duplex in Centralia, Illinois, great investment property.
      406 CEDAR, Centralia, IL 62801
      View Details
    • $150,000

      Centralia, IL Five Acre Tract

      Five acre tract for commercial development in Centralia, Illinois.
      N RANDOLPH Drive, Centralia, IL 62801
      View Details
    • $99,900

      Centralia Church and Home

      Church with home on 1.1 acres in Centralia, Illinois.
      1502 S PINE Street, Centralia, IL 62801
      View Details
    • $349,900

      Lake Centralia Land Opportunity

      5.79 acres on Lake Centralia, ideal for building.
      Gierten Road, Centralia, IL 62801
      View Details
    • $3,818,473

      Retail Investment Opportunity

      Retail property with national tenants in a dense retail corridor.
      1301-1309 W. Broadway, Centralia, IL 62801
      View Details
    • $86,000

      Centralia Farm Land For Sale

      20 acre farm land available in Centralia, Illinois.
      0 Felton Rd, Centralia, IL 62801
      View Details
    • $3,000

      Residential Lot in Centralia, IL

      0.12 acre residential lot in Finneys Heights subdivision.
      1204 S Cherry Street, Centralia, IL 62801
      View Details
    • $45,000

      Centralia Commercial Property on Broadway

      Commercial property in Centralia's downtown district with strong potential.
      320 W BROADWAY Avenue, Centralia, IL 62801
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2.61-acre commercial parcel in high-traffic area.
    Where is this commercial land located?
    The property is located at 200 N BROOKS Avenue Centralia, IL.
    What is the asking price?
    The asking price for this property is $530,000.
    What are key features of this property?
    This property features: 2.61‑acre commercial parcel ready for development.; Located in a B‑3 commercial district.; High traffic exposure offers excellent visibility.
    (618) 267-5123
    We can help!
    Listing Contact
    JAMES T SOMER
    Real Estate License ID: 471004184
    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!