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    23 Central Park Plz Jacksonville, IL 62650

    Sponsored
    For Sale
    $180,000

    Retail space plus apartment, huge potential!

    Property size:
    5,400 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    342
    This exceptional downtown Jacksonville property at 23 S Central Park Plaza presents a unique investment opportunity. The building boasts a total of 5,400 square feet situated on a 0.04-acre lot. The ground floor offers 1,600 square feet of commercial retail space, ideal for a variety of businesses looking to establish a presence in the revitalizing downtown area. Above the retail space, a comfortable and well-appointed two-bedroom, two-and-a-half-bathroom apartment provides additional income potential or owner occupancy. The third floor is currently unfinished, offering a blank canvas for creative expansion or customization to suit specific needs. Significant updates have been made to the property over the years, including a new roof, HVAC system, electrical wiring, and plumbing, ensuring peace of mind for the new owner. This property represents a rare chance to acquire a versatile commercial building in a prime downtown location with significant upside potential. The combination of established retail space, residential living quarters, and expansive unfinished space makes this an attractive option for both investors and owner-operators seeking a blend of income generation and future development possibilities. Don't miss this chance to be a part of Jacksonville's exciting downtown transformation. The asking price is $180,000.

    Property Features for 23 Central Park Plz

    General Information

    Property type
    Other commercial real estate
    Square Feet
    5,400 SF
    Lot Size
    1,742 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    On the Wall Picture Frame Shop Holly Cakes Bakery Bakery

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Morgan
    State
    Illinois
    Longitude
    -90.22969
    Latitude
    39.73345

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    FAQs

    What type of property is this?
    Commercial real estate - Retail space plus apartment, huge potential!
    Where is this commercial real estate located?
    The property is located at 23 Central Park Plz Jacksonville, IL.
    What is the asking price?
    The asking price for this property is $180,000.
    (217) 303-8445
    Request Owner's contact information
    23 Central Park Plz Jacksonville, IL 62650
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    Jacksonville, IL 62650
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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
    23 Central Park Plz Jacksonville, IL 62650
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