Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    Rt 162 & Formosa Rd Troy, IL 62294

    Sponsored
    For Sale
    Contact for pricing

    I-1 Zoned Land, Build-to-Suit Available

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional industrial land offering presents a unique opportunity in Troy, Illinois. Located at the intersection of Rt 162 and Formosa Road in Madison County (zip code 62294), this property boasts flexible lot sizes ranging from 2.1 to 3.52 acres, all zoned I-1 for light industrial use. The site is conveniently situated for excellent access to I-55, providing seamless transportation links. The land is preliminarily plotted into lots of approximately 450 feet by 200 feet, although these dimensions are adaptable to suit individual buyer needs. The seller is willing to divide the land into parcels ranging from one to sixteen contiguous acres, offering significant flexibility for various development projects. Furthermore, build-to-suit options are available, allowing for customized construction to meet specific requirements. All utilities are readily accessible, and the property permits the construction of steel buildings and outdoor storage. While restrictive covenants are in place, they are designed to maintain the quality and character of the development. The land value is priced competitively at $2 to $2.75 per square foot. This prime location and versatile zoning make this an ideal investment for businesses seeking a strategic foothold in the thriving industrial sector of Madison County.

    Property Features for 0 Rt 162 & Formosa Rd

    General Information

    Property type
    Land
    Lot Size
    91,476 SF

    HighLights

    • I‑1 Light Industrial Zoning.
    • Steel building construction permitted.
    • All utilities available.
    • 1‑16 contiguous acres available; seller will divide.
    • Build‑to‑suit options available.
    • Lots approximately 450' x 200', but dimensions are flexible.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Troy
    County
    Madison county
    State
    Illinois
    Longitude
    -89.9154179
    Latitude
    38.7326705

    Nearby Comparable

    • $499,000

      Prime Commercial Land Opportunity

      1.56 acres near I-55, ideal for retail/hospitality.
      7358 State Route 162, Troy, IL 62294
      View Details
    • $1,375,000
      11,900 SF

      Troy Office Complex: 11,900 SF

      Three-building office park, prime location.
      505 Buckeye Dr, Troy, IL 62294
      View Details
    • Contact for pricing
      0.70 Acres

      Troy Commercial Land - I-55 Access

      Developed lots, build-to-suit options.
      7701 Plummer Business Dr, Troy, IL 62294
      View Details
    • Contact for pricing

      Commercial Lots with Highway Access

      Developed commercial lots with utilities and highway access in Troy.
      7701 Plummer Business Dr, Troy, IL 62294
      View Details
    • Contact for pricing
      4.00 Acres

      Plummer Business Park: Troy, IL

      Industrial Land: Prime Troy Location
      7700 Plummer Business Dr, Troy, IL 62294
      View Details
    • Contact for pricing

      Industrial Development Sites Available

      Industrial land for sale or lease near I-55.
      7700 Plumber Business Dr, Troy, IL
      View Details
    • $182,952

      Industrial Land with I-55 Access

      Light industrial land for sale with flexible options.
      Cross St Formosa Rd, Troy, IL
      View Details
    • $3,377,274

      Commercial Development Site on Route 162

      14.77-acre commercial site with frontage on Route 162.
      Amberleigh Dr, Maryville, IL 62062
      View Details
    • $176,418

      Commercial Land on Highway 40

      1.35 AC commercial land near Triad High School.
      320 Us Highway 40, Troy, IL 62294
      View Details
    • $1,212,000
      48.48 Acres

      48.48 Acres Near Troy, IL

      48.48-acre property near Troy, IL, with farmland and mature timber.
      Lower Marine Rd, Troy, IL 62294
      View Details
    • $290,000
      2.11 Acres

      Prime Maryville Development Site

      2.11 Acres, High Traffic, B-1 Zoning
      2917 Center St, Maryville, IL 62062
      View Details

    Nearby Similar for Sale

    • $1,375,000
      11,900 SF

      Troy Office Complex: 11,900 SF

      Three-building office park, prime location.
      505 Buckeye Dr, Troy, IL 62294
      View Details

    FAQs

    What type of property is this?
    Land - I-1 Zoned Land, Build-to-Suit Available
    Where is this land located?
    The property is located at Rt 162 & Formosa Rd Troy, IL.
    What are key features of this property?
    This property features: I-1 Light Industrial Zoning.; Steel building construction permitted.; All utilities available.
    Request Owner's contact information
    Rt 162 & Formosa Rd Troy, IL 62294
    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.
    Rt 162 & Formosa Rd
    Troy, IL 62294
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Rt 162 & Formosa Rd Troy, IL 62294
    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.