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    603 Prairie View Rd Mahomet, IL 61853

    Sponsored
    For Sale
    $475,000

    Prime 0.99-acre lot, I-74 proximity.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This 0.99-acre commercial land parcel in Mahomet, Illinois, presents a compelling investment opportunity. Located at 603 South Prairie View Road, this property boasts a strategic position roughly two blocks north of Interstate 74 and directly across from a Dollar General store. The site includes an existing 3,120 square foot building, offering potential for immediate use or redevelopment. Currently zoned R1-A, the Village of Mahomet anticipates a zoning change request from a future buyer, given the predominantly commercial zoning of the surrounding area. This location benefits from a blend of commercial businesses and residential neighborhoods, creating a dynamic and accessible environment. The property is being sold "as is" and includes a limited number of usage restrictions. The APN is 15-13-13-300-002. This property's proximity to Interstate 74 and the existing building provide significant advantages for a variety of commercial ventures. Serious inquiries are encouraged to explore the potential of this well-situated land parcel.

    Property Features for 603 Prairie View Rd

    General Information

    Property type
    Land
    Lot Size
    43,124 SF

    HighLights

    • Excellent Interstate access.
    • Existing 3,120 square foot building available for immediate occupancy.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Mahomet
    County
    Champaign
    State
    Illinois
    Longitude
    -88.3656651
    Latitude
    40.1907838

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    FAQs

    What type of property is this?
    Land - Prime 0.99-acre lot, I-74 proximity.
    Where is this land located?
    The property is located at 603 Prairie View Rd Mahomet, IL.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: Excellent Interstate access.; Existing 3,120 square foot building available for immediate occupancy.;
    Request Owner's contact information
    603 Prairie View Rd Mahomet, IL 61853
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    Mahomet, IL 61853
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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
    603 Prairie View Rd Mahomet, IL 61853
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