Sign Up Successful!
You now have access to more from Realmo!
    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

    601 Ridge Ave Greenville, IL 62246

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $120,000

    Versatile storage, prime location, agricultural use.

    Property size:
    4,704 SF

    Property Features for 601 Ridge Ave

    General Information

    Property type
    Other commercial real estate
    Square Feet
    4,704 SF

    We can help!

    Listing Contact
    Joseph Purdy

    Listing Agency: Real Broker Llc Listing Agent: Joseph Purdy

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 4,704 square foot commercial property in Greenville, Illinois presents a unique opportunity for agricultural businesses. The property boasts a substantial 3,072 square foot storage building/shop, ideal for equipment, supplies, or inventory. An attached office space provides convenient administrative functions. The strategic location ensures easy access for large vehicles and deliveries, making it an efficient hub for operations. The property is situated on a 0-acre lot, offering ample space for maneuvering and storage. This is a rare chance to acquire a well-maintained facility in a prime agricultural area. Please note a 20-year non-compete clause restricts the sale or distribution of agricultural chemicals, seed, or fertilizer on the property following the sale. The seller will convey title via a special or limited warranty deed, subject to this restriction. This property is perfect for businesses seeking secure, accessible storage and a convenient workspace within a thriving agricultural community. Don't miss this chance to acquire a valuable asset in a desirable location.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Bond
    State
    Illinois
    Longitude
    -89.40548
    Latitude
    38.88635

    Nearby Similar for Sale

    • $300,000
      1,800 SF

      Prime Commercial Property in Greenville

      1.5-acre commercial property with two buildings and ample parking.
      2105 S 4Th St, Greenville, IL 62246
      View Details
    • $949,000
      92.66 Acres

      Greenville Farm with Stocked Lake

      92.99 acres with timber, barn, lake, and tillable land.
      East Lake Dr, Greenville, IL 62246
      View Details
    • $319,000
      2 SF

      Greenville Mixed-Use Investment Opportunity

      Retail space and four apartments in downtown Greenville, Illinois.
      118 W Main St, Greenville, IL 62246
      View Details
    • $115,000
      1 SF

      Downtown Greenville Culinary Opportunity

      Restaurant-ready building in downtown Greenville with recent updates and potential incentives.
      110 S 2Nd St, Greenville, IL 62246
      View Details
    • $199,000
      0.25 Acres

      Greenville Commercial Building Investment

      Prime Location, Retail & Apartment
      603 Harris Ave, Greenville, IL 62246
      View Details
    • $10,900,000

      Distribution Center in Greenville, IL

      Turn-key distribution center with above-standard improvements for sale.
      2000 Wolf Industrial Park, Greenville, IL
      View Details
    • Contact for pricing

      High Traffic Location Available

      Property in Greenville, Illinois, with high daily traffic count.
      700 E City Route 40, Greenville, IL 62246
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - Versatile storage, prime location, agricultural use.
    Where is this commercial real estate located?
    The property is located at 601 Ridge Ave Greenville, IL.
    What is the asking price?
    The asking price for this property is $120,000.
    Request Owner's contact information
    601 Ridge Ave Greenville, IL 62246
    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.
    601 Ridge Ave
    Greenville, IL 62246
    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
    601 Ridge Ave Greenville, IL 62246
    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

    We can help!
    Listing Contact
    Joseph Purdy
    Learn more
    Google sign-in failed. Please try again or use another login method.