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    2010 Mitchell St Salem, IL 62881

    Sponsored
    For Sale
    $180,000

    Two Buildings, 1.29 Acres, B3 Zoning

    Property size:
    1,960 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional investment opportunity presents two commercial buildings totaling 2,344 square feet, ideally situated on a 1.29-acre lot in Salem, Illinois. The property boasts a highly desirable B3 business zoning classification, providing flexibility for a wide range of commercial uses. Conveniently located with direct access to Mitchell Street, this property offers excellent visibility and accessibility. The buildings are ready for immediate occupancy, making it an ideal choice for entrepreneurs looking to establish a new business or for existing businesses seeking expansion. The larger building, encompassing 1,960 square feet, includes a functional office space and is equipped with gas heating. A significant feature of this building is a large 8' x 8' overhead door, perfect for loading and unloading goods or equipment. The second building, measuring 384 square feet, provides additional space for storage, office functions, or other business needs. This turnkey property presents a rare opportunity to acquire a well-located, versatile commercial space in a thriving community. The combination of size, zoning, and location makes this an attractive investment with significant potential for growth and return. Don't miss this chance to secure your future in Salem, IL.

    Property Features for 2010 Mitchell St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    1,960 SF
    Lot Size
    56,192 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Illinois
    Longitude
    -88.99561
    Latitude
    38.62064

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    FAQs

    What type of property is this?
    Commercial real estate - Two Buildings, 1.29 Acres, B3 Zoning
    Where is this commercial real estate located?
    The property is located at 2010 Mitchell St Salem, IL.
    What is the asking price?
    The asking price for this property is $180,000.
    Request Owner's contact information
    2010 Mitchell 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
    2010 Mitchell St Salem, IL 62881
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