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    400 Broadway Goreville, IL 62939

    Sponsored
    For Sale
    $340,000

    Spacious commercial building with apartments.

    Property size:
    5,760 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This versatile 5,760 square foot commercial property located at 400 S Broadway, Goreville, IL, presents a unique investment opportunity. Situated on a 0.25-acre lot, the building offers a substantial amount of space ideal for a variety of uses. The main level features a large open area perfect for retail, warehousing, or a workshop, complemented by a dedicated office space. Adding to its income potential, a one-bedroom apartment is conveniently located on the ground floor. Upstairs, the building boasts four additional residential units, providing a steady stream of rental income. Two of these units are one-bedroom apartments, while the other two offer two bedrooms each. The property is priced at $340,000 and offers significant potential for both commercial and residential income generation. The combination of commercial and residential space makes this a truly unique and attractive investment opportunity in the Goreville market. This property is ready for immediate occupancy and offers a strong return on investment. The building's size and layout provide flexibility for a variety of business ventures and rental strategies. Don't miss this chance to acquire a substantial property in a growing area.

    Property Features for 400 Broadway

    General Information

    Property type
    Other commercial real estate
    Square Feet
    5,760 SF
    Lot Size
    10,890 SF

    Building Details

    Year Built
    2007
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Goreville
    County
    Johnson
    State
    Illinois
    Longitude
    -88.97238
    Latitude
    37.55247

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    FAQs

    What type of property is this?
    Commercial real estate - Spacious commercial building with apartments.
    Where is this commercial real estate located?
    The property is located at 400 Broadway Goreville, IL.
    What is the asking price?
    The asking price for this property is $340,000.
    Request Owner's contact information
    400 Broadway Goreville, IL 62939
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    Goreville, IL 62939
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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
    400 Broadway Goreville, IL 62939
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