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    400 Delaware Ave Casey, IL 62420

    Sponsored
    For Sale
    Contact for pricing

    Multi-Tenant Warehouse Portfolio, 15-Year Lease

    Property size:
    307,874 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a portfolio of two industrial properties totaling 307,874 square feet, situated on 9.44 acres in Casey and Martinsville, Illinois. The properties feature a combined 187,874 square feet of net rentable space and benefit from a brand new 15-year absolute triple-net (NNN) lease with Pap-R Products, ensuring minimal landlord responsibilities. Built in 1999, these strategically located warehouses offer easy access to Interstates 70 and 57 via Illinois Route 49, providing convenient access to major transportation arteries. The portfolio enjoys a long-term operating history with the tenant and is situated approximately 33 miles from Effingham, Illinois

    Property Features for 400 Delaware Ave

    General Information

    Property type
    Distribution properties
    Square Feet
    307,874 SF
    Lot Size
    411,206 SF

    Building Details

    Year Built
    1999

    HighLights

    • Auction: December 16‑18, Starting Bid: $2,500,000
    • 15‑Year Absolute Net Lease to Pap‑R Products in Casey and Martinsville, IL
    • Convenient access to I‑70 & I‑57 via IL Rte. 49
    • Strategic location: ~33 miles from Effingham, IL; ~100 miles from Indianapolis; ~135 miles from St. Louis; ~170 miles from Chicago
    • Zero Landlord Responsibilities
    Property Profile Location Intelligence

    Current Use by Public Records

    Pap-R Products Warehouse y3p Manufacturer

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Casey
    County
    Clark
    State
    Illinois
    Longitude
    -87.9981619
    Latitude
    39.3033432

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    Nearby Similar for Sale

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    FAQs

    What type of property is this?
    Distribution property - Multi-Tenant Warehouse Portfolio, 15-Year Lease
    Where is this distribution property located?
    The property is located at 400 Delaware Ave Casey, IL.
    What are key features of this property?
    This property features: Auction: December 16-18, Starting Bid: $2,500,000; 15-Year Absolute Net Lease to Pap-R Products in Casey and Martinsville, IL; Convenient access to I-70 & I-57 via IL Rte. 49
    Request Owner's contact information
    400 Delaware Ave Casey, IL 62420
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    Casey, IL 62420
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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
    400 Delaware Ave Casey, IL 62420
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