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    901 Mcleansboro St Benton, IL 62812

    Sponsored
    For Sale
    $59,900

    Versatile Commercial Land, Endless Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    406
    This exceptional 59,900 dollar commercial property, located at 901 N McLeansboro Street in Benton, Illinois (zip code 62812), presents a unique investment opportunity. Situated in Franklin County, this land parcel offers a blank slate for diverse commercial ventures. The property's classification encompasses land, industrial, office, and retail uses, providing significant flexibility for prospective buyers. Its zoning allows for a variety of business types, including commercial establishments, warehouse operations, and even restaurants. The property's location in Benton, Illinois, provides convenient access to local amenities and transportation routes. This is an ideal opportunity for entrepreneurs and investors seeking a versatile space to establish their business or expand their existing operations. The property's adaptability makes it suitable for a wide range of uses, from a small retail store to a larger-scale warehouse or office complex. The asking price represents a compelling value for a property with such significant potential. The latitude and longitude coordinates are 38.0053757 and -88.9099193 respectively. This property is ready for immediate development and offers a chance to create a thriving business in a desirable location. Serious inquiries are encouraged to explore this exciting opportunity further. The property is being sold as-is.

    Property Features for 901 Mcleansboro St

    General Information

    Property type
    Restaurants

    We can help!

    Listing Contact
    CALLIE BROWN
    CALLIE BROWN

    Learn more

    HighLights

    • $59,900 commercial property in Benton, IL (62812).
    • Located at 901 N McLeansboro Street, Franklin County.
    • Versatile zoning allows for land, industrial, office, and retail uses.
    • Convenient access to local amenities and transportation.
    • As‑is sale, ready for immediate development.
    Property Profile Location Intelligence

    Current Use by Public Records

    Distribution centers

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Benton
    County
    Franklin
    State
    Illinois
    Longitude
    -88.9099193
    Latitude
    38.0053757

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    FAQs

    What type of property is this?
    Restaurant - Versatile Commercial Land, Endless Potential
    Where is this restaurant located?
    The property is located at 901 Mcleansboro St Benton, IL.
    What is the asking price?
    The asking price for this property is $59,900.
    What are key features of this property?
    This property features: $59,900 commercial property in Benton, IL (62812).; Located at 901 N McLeansboro Street, Franklin County.; Versatile zoning allows for land, industrial, office, and retail uses.
    Request Owner's contact information
    901 Mcleansboro St Benton, IL 62812
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    Benton, IL 62812
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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.

    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
    901 Mcleansboro St Benton, IL 62812
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    Listing Contact
    CALLIE BROWN
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    Learn more
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