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    Eastgate Dr Washington, IL 61571

    Sponsored
    For Sale
    $163,785

    0.94 Acres, B-2 Zoning, Development Ready

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    337
    This exceptional 0.94-acre commercial lot presents a unique opportunity for developers and investors in the thriving Washington, Illinois market. Located on Eastgate Drive, this property boasts a highly desirable B-2 zoning classification, opening the door to a wide range of commercial development possibilities. The expansive lot size provides ample space for a variety of projects, from retail establishments and restaurants to office buildings and light industrial facilities. Its strategic location offers excellent visibility and accessibility, ensuring high traffic flow and potential for significant return on investment. The property is currently vacant and ready for immediate development, eliminating the need for lengthy demolition or remediation processes. This translates to significant time and cost savings for prospective buyers, allowing for a faster turnaround and quicker path to profitability. The asking price of $163,785 represents an attractive entry point into the Washington commercial real estate market, making this an exceptional opportunity for those seeking a prime location with significant development potential. Serious inquiries are encouraged to explore the possibilities this exceptional property offers. All necessary due diligence is recommended.

    Property Features for Eastgate Dr

    General Information

    Property type
    Other commercial real estate
    Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Washington
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.50538
    Latitude
    40.71642

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    FAQs

    What type of property is this?
    Commercial real estate - 0.94 Acres, B-2 Zoning, Development Ready
    Where is this commercial real estate located?
    The property is located at Eastgate Dr Washington, IL.
    What is the asking price?
    The asking price for this property is $163,785.
    Request Owner's contact information
    Eastgate Dr Washington, IL 61571
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    Eastgate Dr
    Washington, IL 61571
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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
    Eastgate Dr Washington, IL 61571
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