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    301 3Rd St London Mills, IL 61544

    Sponsored
    For Sale
    $45,000

    Prime Retail Land, Two Lots, High Traffic

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional commercial property at 301 3rd Street, London Mills, IL 61544, presents a unique investment opportunity. Priced at $45,000, this land parcel offers two lots, ideal for diverse commercial ventures. The property includes a pole barn structure, partially enclosed and partially open-air, providing versatile storage or vendor space. The barn is equipped with numerous electrical plug-ins, enhancing its functionality. This location boasts a rich history, having served as the site of the renowned Giacabazi Donuts for many years, establishing a strong presence within the community. The property also features 24 additional spaces, further expanding its potential for rental income. Currently rented for the year, the seller will retain current year's proceeds. This presents a prime opportunity to secure the property for future rental income, particularly during the popular Spring and Fall Festivals, capitalizing on the high-traffic location in the heart of a scenic drive. The property's established history and versatile features make it an attractive investment for entrepreneurs seeking a high-visibility location with significant income potential. This is a rare opportunity to acquire a well-positioned commercial property in a desirable location.

    Property Features for 301 3Rd St

    General Information

    Property type
    Retail properties
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Auto Repair Shop Food Market Storage Facility Bar & Pub Pawn Shop Farmer's Market

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

    Location Insight

    • Map
    • Local Demand
    City
    London Mills
    County
    Fulton
    State
    Illinois
    Longitude
    -90.2668047
    Latitude
    40.7128136

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    FAQs

    What type of property is this?
    Retail property - Prime Retail Land, Two Lots, High Traffic
    Where is this retail property located?
    The property is located at 301 3Rd St London Mills, IL.
    What is the asking price?
    The asking price for this property is $45,000.
    Request Owner's contact information
    301 3Rd St London Mills, IL 61544
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    London Mills, IL 61544
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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
    301 3Rd St London Mills, IL 61544
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