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    1501 Park Ave Herrin, IL 62948

    For Sale
    $245,000

    Prime Herrin location, excellent investment opportunity.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    316
    This exceptional commercial property, located at 1501 S Park Avenue in Herrin, Illinois, presents a compelling investment opportunity. Priced at $245,000, the property is classified as general commercial and offers significant potential for a variety of uses. While the square footage is not currently specified, the property sits on a zero-acre lot, suggesting a compact and potentially easily managed footprint. Its location in Herrin provides access to a local market and existing infrastructure. The property's versatility makes it suitable for a range of businesses, from retail to office space, or potentially even a mixed-use development, subject to local zoning regulations. Further due diligence is recommended to determine the precise zoning and permitted uses. Interested parties are encouraged to conduct their own independent investigation into the property's suitability for their intended purpose. This includes, but is not limited to, verifying the square footage, confirming zoning compliance, and assessing the property's condition through a thorough inspection. The absence of specified square footage underscores the need for a comprehensive site visit and assessment before making an offer. This property represents a chance to acquire a strategically located commercial asset in a growing community. Serious inquiries are welcome. All information provided is believed to be accurate but should be independently verified.

    Property Features for 1501 Park Ave

    General Information

    Property type
    Other commercial real estate
    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
    -89.02853
    Latitude
    37.7891

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    FAQs

    What type of property is this?
    Commercial real estate - Prime Herrin location, excellent investment opportunity.
    Where is this commercial real estate located?
    The property is located at 1501 Park Ave Herrin, IL.
    What is the asking price?
    The asking price for this property is $245,000.
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    1501 Park Ave Herrin, IL 62948
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    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
    1501 Park Ave Herrin, IL 62948
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