Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Vacant Lot in Galesburg, IL Title is generated by Realmo AI

    513 N Henderson St, Galesburg, IL 61401

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Vacant lot near Interstate 74 and US-34.

    Type:Land
    Added:
    Oct 24, 2022
    Days on Market:
    1307
    Last Refresh:
    May 13 at 8:09 pm

    Property Features for 513 N Henderson St

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Carrie Tinucci-Troll

    Listing agent Carrie Tinucci-Troll License #IL475166842

    Listing office SVN Core 3

    Listing date Oct 24, 2022

    Source Crexi

    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 SVN Core 3

    HighLights

    • Vacant lot available for purchase
    • Located along Henderson St. in Galesburg, IL
    • Close proximity to Interstate 74 and US‑34
    • Minutes from downtown Galesburg business district
    • Zoned for commercial use
    • Site is being sold with some restrictions

    Overview

    This vacant lot is located along Henderson Street in Galesburg, Illinois, situated between Interstate 74 and US-34. It is a short distance from the downtown Galesburg business district. The sale of the lot is subject to certain restrictions.
    Property Profile Location Intelligence

    Current Use by Public Records

    Galesburg Insurance Insurance Agency Rebecca Clark Agency Insurance Agency

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Galesburg
    County
    Knox
    State
    Illinois
    Longitude
    -90.3829807
    Latitude
    40.9535532

    Nearby Similar for Sale

    • $10,850,000
      75,651 SF

      Galesburg Retail Center For Sale

      Retail center in primary corridor, renovated in 2018.
      1995 National, Galesburg, IL
      View Details
    • $195,000
      4,000 SF

      Commercial Building on Busy Road

      Commercial building with high visibility and ample parking.
      1055 N HENDERSON Street, Galesburg, IL 61401
      View Details
    • $950,000
      13,000 SF

      Retail Property on North Henderson

      Commercial property on 1.6 acres with 13,000 SF building.
      1621 N Henderson St, Galesburg, IL 61401
      View Details
    • $100,000

      Vacant Lot on Henderson Street

      Vacant commercial lot with high visibility in Galesburg, Illinois.
      513 N. Henderson St., Galesburg, IL 61401
      View Details
    • $800,000
      4,687 SF

      Retail Space For Sale

      Retail space with 4,687 square feet available for purchase.
      1727 N Henderson St, Galesburg, IL 61401
      View Details
    • $115,000

      High Visibility Commercial Lot

      2.5-acre commercial lot with high traffic exposure.
      400-blk North Linwood Road, Galesburg, IL 61401
      View Details
    • $75,000

      Galesburg Restaurant Opportunity

      Turnkey restaurant ready for new owner in Galesburg, IL.
      1160 W MAIN Street, Galesburg, IL 61401
      View Details
    • $1,400,000
      110,642 SF

      Illinois Self-Storage Portfolio for Sale

      Three self-storage facilities in west-central Illinois with expansion potential.
      256 W Ferris St, Galesburg, IL 61401
      View Details
    • $40,000
      2,832 SF

      Charming Brick Church For Sale

      Versatile church with spacious lower level for gatherings and events.
      600 Holton Street, Galesburg, IL 61401
      View Details
    • $1,300,000
      26,400 SF

      24-Unit Townhome Investment Opportunity

      24-unit townhome community with income growth potential in Galesburg, IL.
      65 Locust St, Galesburg, IL 61401
      View Details
    • $450,000

      Commercial Lots in Retail Corridor

      Three 1.5-acre commercial lots in a high-traffic retail area.
      2600 N Seminary St, Galesburg, IL 61401
      View Details
    • $700,000

      Galesburg Outlot Opportunity

      0.8 acre commercial land for sale or lease.
      National Blvd, Galesburg, IL 61401
      View Details

    FAQs

    What type of property is this?
    Commercial land - Vacant lot near Interstate 74 and US-34.
    Where is this commercial land located?
    The property is located at 513 N Henderson St Galesburg, IL.
    What is the asking price?
    The asking price for this property is $100,000.
    What are key features of this property?
    This property features: Vacant lot available for purchase; Located along Henderson St. in Galesburg, IL; Close proximity to Interstate 74 and US‑34
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Carrie Tinucci-Troll
    Real Estate License ID: IL475166842
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    513 N Henderson St, Galesburg, IL 61401
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!