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

    201 Park Ave Herrin, IL 62948

    Sponsored
    For Sale
    $159,000

    Downtown Corner Lot, $159,000

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    402
    This exceptional commercial property, located at 201 S PARK Avenue in Herrin, Illinois, presents a unique investment opportunity. The property, built in 1988, sits on a highly visible downtown corner lot boasting a sizable 2.3-acre footprint. The versatile space is classified as commercial, warehouse, and flex space, offering significant adaptability for a variety of business uses. The single building on the site provides ample room for operations, storage, or a combination thereof. Its prime location in the heart of Herrin, within Williamson County, ensures excellent visibility and accessibility for customers and employees alike. The 62948 zip code offers convenient access to local amenities and transportation routes. This property is ideal for entrepreneurs seeking a well-positioned space to establish or expand their business. The asking price of $159,000 makes this a compelling investment opportunity in a thriving Illinois community. The property's versatility, combined with its prominent location, makes it an attractive prospect for a wide range of commercial ventures. Serious inquiries are encouraged to explore the full potential of this exceptional property. Further details are available upon request.

    Property Features for 201 Park Ave

    General Information

    Property type
    Flex space

    Building Details

    Year Built
    1988
    Buildings
    1

    HighLights

    • $159,000 asking price.
    • 2.3‑acre lot.
    • 1988 construction.
    • One building.
    • Herrin, IL location at 201 S PARK Avenue.
    • Commercial, warehouse, and flex space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Herrin
    County
    Williamson
    State
    Illinois
    Longitude
    -89.0279573
    Latitude
    37.8018598

    Nearby Similar for Sale

    • $620,000
      4.00 Acres

      Herrin Multifamily Investment Opportunity

      Eleven units on four acres in Herrin, Illinois.
      1609 S 22Nd St, Herrin, IL 62948
      View Details
    • $120,000
      0.23 Acres

      Herrin Commercial Properties For Sale

      Adjacent commercial properties in Herrin, Illinois, with redevelopment potential.
      211 S Park Ave, Herrin, IL 62948
      View Details
    • $499,000
      0.11 Acres

      Mixed-Use Building in Herrin, IL

      Large mixed-use building with commercial and residential leasing opportunities.
      110 W Cherry St, Herrin, IL 62948
      View Details
    • $950,000
      16,800 SF

      Mt. Vernon Warehouse on 7 Acres

      Well-maintained 16,800 SF office/warehouse near I-57/I-64.
      12086 Il Hwy, Herrin, IL
      View Details
    • $340,000
      2,022 SF

      Herrin Office Building For Sale

      2,022 SF office building with drive-thru, near IL-13.
      401 Rushing Dr, Herrin, IL 62948
      View Details
    • $1,400,000
      24,000 SF

      Herrin, IL Commercial Gem

      Historic building, multiple income streams
      200 Park Ave, Herrin, IL 62948
      View Details
    • $299,900
      7,100 SF

      Herrin, IL Commercial Property

      Spacious Office/Warehouse on 1.45 Acres
      1100 13Th St, Herrin, IL 62948
      View Details
    • $499,000
      10,000 SF

      Herrin, IL Commercial Investment Opportunity

      High-visibility commercial building with rental income.
      110 Cherry St, Herrin, IL 62948
      View Details
    • $245,000

      Herrin, IL Commercial Property

      Prime Herrin location, excellent investment opportunity.
      1501 Park Ave, Herrin, IL 62948
      View Details
    • $250,000
      10,000 SF

      Downtown Herrin Commercial Building

      High-Income Potential, Prime Location
      221 Park Ave, Herrin, IL 62948
      View Details
    • $1,500,000
      22,000 SF

      Herrin, IL Commercial Trio

      Three buildings, 2.85 acres, high traffic.
      206 Rushing Dr, Herrin, IL 62948
      View Details
    • $229,900
      2,708 SF

      Herrin Office Building: Prime Location

      Spacious office, tranquil setting, ample parking.
      200 Diaz St, Herrin, IL 62948
      View Details

    FAQs

    What type of property is this?
    Flex space - Downtown Corner Lot, $159,000
    Where is this flex space located?
    The property is located at 201 Park Ave Herrin, IL.
    What is the asking price?
    The asking price for this property is $159,000.
    What are key features of this property?
    This property features: $159,000 asking price.; 2.3-acre lot.; 1988 construction.
    Request Owner's contact information
    201 Park Ave Herrin, IL 62948
    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.
    201 Park Ave
    Herrin, IL 62948
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    201 Park Ave Herrin, IL 62948
    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.