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    1911 Pierce Ct Belvidere, IL 61008

    Sponsored
    For Sale
    $55,000

    Prime Commercial Lot, Excellent Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional commercial land parcel, located at 1911 Pierce Court in Belvidere, Illinois, presents a remarkable opportunity for investors and businesses alike. Priced competitively at $55,000, this property offers significant potential for development. Situated in Boone County, with a 61008 zip code, the lot enjoys convenient access to key transportation routes and amenities. The address is precisely 1911 Pierce Ct, Belvidere, IL, with GPS coordinates of 42.277136 latitude and -88.863935 longitude. This is one of two similar lots available; purchasing both would provide expanded space for larger projects. The property's ideal location makes it suitable for a wide range of commercial ventures, from offices to retail establishments. Its strategic positioning within Belvidere offers excellent visibility and accessibility, ensuring a strong foundation for any business looking to establish a presence in this thriving community. The asking price represents an attractive entry point into the Belvidere commercial real estate market, making this an opportunity not to be missed. Serious inquiries are encouraged to explore the full potential of this valuable property.

    Property Features for 1911 Pierce Ct

    General Information

    Property type
    Land

    HighLights

    • $55,000 asking price for commercial land.
    • Located at 1911 Pierce Ct, Belvidere, IL 61008.
    • Boone County, Illinois location.
    • One of two similar lots available; potential to purchase both.
    • Excellent location for office or business.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store Nail Salon Pharmacy Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Belvidere
    County
    Boone
    State
    Illinois
    Longitude
    -88.863935
    Latitude
    42.277136

    Nearby Comparable

    • $85,000

      Commercial Lot in Landmark Crossings

      Commercial lot available for sale in a commercial park.
      1911 Pierce Ct, Belvidere, IL 61008
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      Commercial Lots in Landmark Crossings

      Two commercial lots available for sale in Belvidere, Illinois.
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      Belvidere Commercial Lot For Sale

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      Belvidere Commercial Lot For Sale

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      Commercial Lot in Landmark Crossings

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      Commercial Lot in Landmark Crossings

      Commercial lot for sale or build to suit opportunity.
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      Commercial Lot in Growing Area

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      Commercial Lot in Landmark Crossings

      Commercial lot for sale in growing Belvidere area.
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      60 Acres Prime Agricultural Land

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      60 Acres Prime Agricultural Land

      Prime agricultural land near Belvidere, suitable for farming or development.
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      New Construction Luxury Townhome

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      Belvidere Industrial Park Land Available

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    Nearby Similar for Sale

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    • Contact for pricing
      90,000 SF

      Cross-Docked Industrial Building

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      Belvidere Office Building For Sale

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      Retail Property in Belvidere, IL

      Retail property available for sale in Belvidere, Illinois.
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      Belvidere Mixed-Use Investment

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    FAQs

    What type of property is this?
    Land - Prime Commercial Lot, Excellent Location
    Where is this land located?
    The property is located at 1911 Pierce Ct Belvidere, IL.
    What is the asking price?
    The asking price for this property is $55,000.
    What are key features of this property?
    This property features: $55,000 asking price for commercial land.; Located at 1911 Pierce Ct, Belvidere, IL 61008.; Boone County, Illinois location.
    (815) 990-6844
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    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.

    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
    1911 Pierce Ct Belvidere, IL 61008
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