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    400 Pruyn St Salem, IL 62881

    Sponsored
    For Sale
    $315,000

    Versatile 4,993 sq ft building, ideal for many uses.

    Property size:
    4,993 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    339
    This exceptional 4,993 square foot commercial building located at 400 S Pruyn Street in Salem, Illinois, presents a remarkable investment opportunity. Previously utilized as a daycare center, its flexible RS-2 zoning allows for a diverse range of potential uses, including residential conversion, continued operation as a daycare, development into a duplex, or establishment of a church or community center. The building boasts a well-maintained interior with open, adaptable floor plans, providing ample space for customization. Safety is prioritized with a comprehensive sprinkler and alarm system, ensuring peace of mind for occupants and users. Power outages are mitigated by a reliable backup generator, a significant advantage for various business models. The property also features a substantial fenced-in yard with concrete flooring, perfect for outdoor activities, events, or additional parking. Ten dedicated parking spaces are available for convenience. An appraisal has been conducted, providing transparency and confidence in the competitive asking price of $315,000. Situated on a 0.4-acre lot, this property offers significant potential for a variety of ventures and represents a compelling investment in a desirable location.

    Property Features for 400 Pruyn St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    4,993 SF
    Lot Size
    17,424 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Child Development Center Day Care Center

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Illinois
    Longitude
    -88.95381
    Latitude
    38.62434

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    FAQs

    What type of property is this?
    Commercial real estate - Versatile 4,993 sq ft building, ideal for many uses.
    Where is this commercial real estate located?
    The property is located at 400 Pruyn St Salem, IL.
    What is the asking price?
    The asking price for this property is $315,000.
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    400 Pruyn St Salem, IL 62881
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    Salem, IL 62881
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    Realmo Value Estimation

    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.

    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.

    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
    400 Pruyn St Salem, IL 62881
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