Add Listing
    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

    2401 Magnolia Dr Jacksonville, IL 62650

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Commercial land for sale near Interstate 72 in Jacksonville.

    Lot size:
    1.42 Acres

    Property Features for 2401 Magnolia Dr

    General Information

    Lot size
    1.42 Acres

    We can help!

    Listing Contact
    Zane Peterson
    Zane Peterson
    Source: Moodyscre

    Listing Agency: Main Place Real Estate Listing Agent: Zane Peterson

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

    Learn more

    Property Insight Report

    Overview

    Commercial Land Near Interstate 72

    Located immediately off Interstate 72 and adjacent to a Love’s Truck Stop in South Jacksonville, Illinois, this commercial land offers an investment and development opportunity. The property consists of 13 individual parcels, totaling 33.99 acres. The location benefits from heavy traffic flow and proximity to major roadways. IL Route 267 has average daily traffic counts of 9,100 (IDOT). The property is strategically positioned for businesses seeking visibility and easy access.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Big Box & Wholesale Store Auto Repair Shop Hair Salon Gym & Fitness Center Auto Parts Store Hotel & Motel Bar & Pub Grocery & Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Morgan
    State
    Illinois
    Longitude
    -90.2327237
    Latitude
    39.6936717

    Nearby Similar for Sale

    • $375,000
      8,000 SF

      Expansive Commercial Building on Large Lot

      8,000 sq ft building on 1.94 acres for sale.
      3001 W Lafayette Ave, Jacksonville, IL 62650
      View Details
    • $165,000

      Historic Landmark Building in Jacksonville

      Three-story brick building with commercial zoning and historic significance.
      520 W College Ave, Jacksonville, IL 62650
      View Details
    • $64,000
      0.00 Acres

      Professional Office Space Available

      Professional office condo unit with basement storage for sale.
      1614 W Lafayette Ave, Jacksonville, IL 62650
      View Details
    • $395,000
      2.00 Acres

      Updated Senior Care Facility

      Former nursing home ready to reopen as senior care facility.
      1500 W Walnut St, Jacksonville, IL 62650
      View Details
    • $400,000
      Pending

      Established Church with Multifaceted Spaces

      Unique church with sanctuary, classrooms, offices, kitchen, and shelter.
      400 W Morgan St, Jacksonville, IL 62650
      View Details
    • $400,000
      Pending

      Established Church in Jacksonville, IL

      Well-known church with sanctuary, classrooms, kitchen, and parking.
      400 W Morgan St, Jacksonville, IL 62650
      View Details
    • $375,000
      1.94 Acres

      Spacious Commercial Building on Large Lot

      8,000 sq ft building on 1.94 acres for sale.
      3001 W Lafayette Ave, Jacksonville, IL 62650
      View Details
    • $130,000
      Pending

      Jacksonville Multifamily Property with Garage

      Multifamily property featuring three apartments, office, and oversized garage.
      613 E College Ave, Jacksonville, IL 62650
      View Details
    • $450,000
      4.22 Acres

      Unique Mixed-Use Property in Jacksonville

      Versatile property with residential and commercial zoning, endless possibilities.
      352 Franklin St, Jacksonville, IL 62650
      View Details
    • $92,500

      Jacksonville Multifamily Investment Opportunity

      Multifamily property in Jacksonville, Illinois, ideal for investment.
      401 S East St, Jacksonville, IL 62650
      View Details
    • Contact for pricing
      Pending

      Duplex in Jacksonville, Illinois

      Duplex needing TLC, potential cash flow, separate meters.
      507 S Prairie St, Jacksonville, IL 62650
      View Details
    • $450,000
      4.22 Acres

      Unique Mixed-Use Property Opportunity

      Versatile property with residential and commercial zoning in Jacksonville, IL.
      352 Franklin St, Jacksonville, IL 62650
      View Details

    FAQs

    What type of property is this?
    Land - Commercial land for sale near Interstate 72 in Jacksonville.
    Where is this land located?
    The property is located at 2401 Magnolia Dr Jacksonville, IL.
    What is the asking price?
    The asking price for this property is $185,565.
    What are key features of this property?
    This property features: - Immediately off Interstate 72, providing exceptional accessibility.; - Adjacent to a high-traffic Love’s Truck Stop, ensuring constant visibility.; - Totaling 33.99 acres across 13 individual parcels, offering flexible development options.
    (217) 454-8800 Call to check price and availability
    Request Owner's contact information
    2401 Magnolia Dr Jacksonville, IL 62650
    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.
    2401 Magnolia Dr
    Jacksonville, IL 62650
    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
    2401 Magnolia Dr Jacksonville, IL 62650
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing Zane Peterson
    Zane Peterson
    (217) 454-8800 (217) 422-3330 (217) 422-3335
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!