Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    420 North Main Street Monmouth, IL 61462

    View on Map
    Claim this Listing
    For Sale
    $398,500

    Commercial Business - Monmouth, IL

    Property size:
    3,648 SF
    Price / SF:
    $109/SF
    Added:
    Aug 3, 2023
    Days on Market:
    1010
    Last Refresh:
    May 8 at 12:06 am

    Property Features for 420 North Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    1
    Rooms
    Bathroom 1
    Parking features
    Garage
    Standard status
    Active
    APN
    09-210-140-00 & 09-210-144-00
    Size
    3,648 SF

    Taxes and HOA fees

    Tax Annual Amount
    0

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1940
    Year renovated
    1940
    Floors in Building
    1
    Flooring type
    Carpet
    Building materials
    Brick, Wood Siding
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    John Doyle

    Listing agent John Doyle

    Listing office Doyle & Associates Realty, LLC 401 North Main St., Monmouth, IL

    Listing date Aug 3, 2023

    MLS# 11196139 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.

    HighLights

    • Prime location on North Main Street.
    • 3648 square feet of interior space.
    • Spacious parking lot.
    • Large outside patio area.
    • Central air conditioning.
    • Brick and wood siding construction.

    Overview

    Retail Property on North Main

    Located on North Main Street in Monmouth, Illinois, this commercial property offers 3648 square feet of interior space. Currently operating as an upscale furniture store, the property includes a large outside patio area that has been used for seasonal product marketing. A spacious parking lot is available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Monmouth
    County
    Warren
    State
    Illinois
    Longitude
    -90.648453
    Latitude
    40.908028

    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
    • $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
    • $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
    • $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
    • $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
    • $189,000
      2,582 SF

      Monmouth Apartment Building with Five Units

      Five-unit apartment building near downtown Monmouth, Illinois.
      302 West Broadway, Monmouth, IL 61462
      View Details

    FAQs

    What type of property is this?
    Storefront property - 3648 SF retail space with parking in Monmouth, Illinois.
    Where is this storefront property located?
    The property is located at 420 North Main Street Monmouth, IL.
    What is the asking price?
    The asking price for this property is $398,500.
    What are key features of this property?
    This property features: Prime location on North Main Street.; 3648 square feet of interior space.; Spacious parking lot.
    (309) 734-7253
    We can help!
    Listing Contact
    John Doyle
    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

    Thank You for Inquiry
    420 North Main Street, Monmouth, IL 61462
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!