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    216 Main St Salem, IL 62881

    Sponsored
    For Sale
    $80,000

    Prime Salem location, 2,200 sq ft building, $80,000

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional commercial property, located at 216 E Main Street in Salem, Illinois (zip code 62881), presents a unique investment opportunity. The property consists of a 2,200 square foot building constructed in 1910, offering significant potential for a variety of commercial uses. Its prime location directly on Main Street provides excellent storefront visibility and accessibility for customers. The building's versatility is further enhanced by a 744 square foot lean-to, adding extra space and functionality. Ample customer parking is available on the side of the building, ensuring convenient access for patrons. Previously occupied by a resale shop, this property is ready for its next chapter, offering a blank canvas for entrepreneurs seeking to establish or expand their business in the thriving Salem community. The asking price for this exceptional commercial land and building is $80,000. This property is situated in Marion County, Illinois, and its coordinates are 38.6272514 latitude and -88.9438728 longitude. Don't miss this chance to own a piece of Salem's vibrant commercial landscape.

    Property Features for 216 Main St

    General Information

    Property type
    Land

    Building Details

    Year Built
    1910

    HighLights

    • $80,000 asking price.
    • 2,200 SF commercial land in Salem, IL.
    • Built in 1910.
    • Main Street frontage.
    • Includes a 744 SF lean‑to.
    • Ample on‑site parking.
    Property Profile Location Intelligence

    Current Use by Public Records

    Two Sisters Resale ... Consignment Shop

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Illinois
    Longitude
    -88.9438728
    Latitude
    38.6272514

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    FAQs

    What type of property is this?
    Land - Prime Salem location, 2,200 sq ft building, $80,000
    Where is this land located?
    The property is located at 216 Main St Salem, IL.
    What is the asking price?
    The asking price for this property is $80,000.
    What are key features of this property?
    This property features: $80,000 asking price.; 2,200 SF commercial land in Salem, IL.; Built in 1910.
    Request Owner's contact information
    216 Main St Salem, IL 62881
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    Salem, IL 62881
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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
    216 Main St Salem, IL 62881
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