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    221 Park Ave Herrin, IL 62948

    For Sale
    $250,000

    High-Income Potential, Prime Location

    Property size:
    10,000 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    316
    This exceptional 10,000 square foot, two-story commercial building presents a remarkable investment opportunity in the heart of Herrin, Illinois. Situated on a corner lot along a major downtown thoroughfare at 221 N Park Avenue, this property boasts significant income-generating potential. The main floor is currently divided into two separate retail/office spaces, generating an approximate annual income of $20,000. This established rental stream provides immediate return on investment. The expansive second floor offers versatile space ideal for a variety of uses. Imagine hosting banquets or meetings in the large open area, or converting a portion into additional office space or even residential accommodations. The possibilities are numerous, allowing for creative adaptation to meet evolving market demands. The building's prime location in the bustling downtown area ensures high visibility and accessibility, attracting a steady stream of potential customers and tenants. This property is a rare find, combining established income with significant upside potential for future growth and expansion. Don't miss this chance to acquire a valuable asset in a thriving community. The asking price is $250,000.

    Property Features for 221 Park Ave

    General Information

    Property type
    Other commercial real estate
    Square Feet
    10,000 SF
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Herrin
    County
    Williamson
    State
    Illinois
    Longitude
    -89.02785
    Latitude
    37.80496

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    FAQs

    What type of property is this?
    Commercial real estate - High-Income Potential, Prime Location
    Where is this commercial real estate located?
    The property is located at 221 Park Ave Herrin, IL.
    What is the asking price?
    The asking price for this property is $250,000.
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    221 Park Ave Herrin, IL 62948
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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
    221 Park Ave Herrin, IL 62948
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