Mixed-Use Property with
1201 S Park Avenue, Herrin, IL 62948
For Sale
$179,000
A professional office is paired with two apartments, including one- and two-bedroom layouts.
Property Size1,676 SF
Price / SF$106.80
Days on Market18
Property Features for 1201 S Park Avenue
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Listing Agency:
C21 HOUSE OF REALTY, INC. C
Listed By:
Kimberly Dixon
(618) 985-3717
Source:
Gogginrealestate
Added: Oct 23
Changed: Nov 7
Last Checked: Nov 8 at 2:43PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of C21 HOUSE OF REALTY, INC. C
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Investment Insights
Based on property information with market context.
Built in 1930, this mixed-use property combines professional office space with two apartments. The residential units are configured as a one-bedroom apartment behind the office and a two-bedroom apartment on the upper floor. The one-bedroom unit is currently rented.
The property is located at 1201 S Park Avenue in Herrin, Illinois.
The property is located at 1201 S Park Avenue in Herrin, Illinois.
Key Highlights
- Two apartments: one one‑bedroom unit and one two‑bedroom unit
- Professional office space on site
- One‑bedroom apartment is currently rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,721
Cap Rate
7.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$254,420
$254.4K
Cap Rate 7%
$181,729
$181.7K
Cap Rate 9%
$141,344
$141.3K
Market Conditions
NOI Build-Up for 1,676 SF
Gross rent
$24.7K $14.76/SF
− Vacancy
−$1.6K −$0.96/SF
EGI
$23.1K $13.80/SF
− OpEx
−$10.4K −$6.21/SF
NOI
$12.7K $7.59/SF
Area
Williamson County, IL
Vacancy
6.50%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$254,420
Cap Rate 7%
$181,729
Cap Rate 9%
$141,344
Alternative Uses
Best Use
Apartment 5plus
$181.7K
$159.0K – $212.0K
NOI $12,721 @ 7.0% cap · market cap 7.11%
Second Best
Mixed Use
$161.6K
$141.4K – $188.6K
NOI $11,313 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$353.3K
$309.2K – $412.2K
NOI $24,733 @ 7.0% cap · market cap 13.82%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
253
Businesses Nearby
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Business Placement
Demographics for 62948, IL
12,536
Population
6,177
Households
2
Avg Household Size
40
Median Age
24%
College-Educated
92%
High-School Grad
20.0 sq mi
ZIP Area
627
Density / Sq Mi
$59,031
Median Household Income
$40,633
Median Earnings
$1,010
Median Rent
$112,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A professional office is paired with two apartments, including one- and two-bedroom layouts.
Where is this mixed-use property located?
The property is located at 1201 S Park Avenue Herrin, IL.
What is the asking price?
The asking price for this property is $179,000.
What are key features of this property?
This property features: Two apartments: one one‑bedroom unit and one two‑bedroom unit; Professional office space on site; One‑bedroom apartment is currently rented
