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    402 Richmond Ave Mattoon, IL 61938

    For Lease
    Contact for pricing

    1,806 SF Bank Building, 1.6 Acres

    Lot size:
    1,806 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This 1,806 square foot former US Bank building sits on a 1.6-acre lot in Mattoon, Illinois, at 402 Richmond Ave E, zip code 61938. Ideally located across from Cross County Mall, anchored by major retailers including Rural King, Marshalls, JOANN, and Dunham's Sports, this property benefits from high visibility and significant foot traffic. The Cross County Mall serves as the primary shopping destination for the Charleston-Mattoon Micropolitan Statistical Area, boasting a trade area population of 101,319. Further enhancing its appeal, the property is situated directly across from the new Emerald Acres Sports Connection, a $100 million indoor and outdoor sports complex projected to attract 580,000 visitors annually, generating $23.8 million in direct spending and 59,000 hotel room nights. This strategic location on Richmond Avenue places the property between Mattoon's commercial district and its residential areas, maximizing exposure to both consumer bases. The strong regional draw of this market, extending up to 30 miles in all directions, is poised for further expansion with the opening of Emerald Acres Sports Connection, potentially attracting visitors from cities such as Chicago, Indianapolis, and St. Louis. The property is a single-tenant building with 1,806 square feet of vacant space, offering a unique opportunity for a variety of retail uses. Coles County location.

    Property Features for 402 Richmond Ave

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    1,806 SF

    Unit(s) available at that property

    Space
    Size
    1,806 SF

    HighLights

    • 1,806 SF former bank building on a 1.6‑acre lot in Mattoon, IL (61938).
    • High‑visibility location across from Cross County Mall, anchored by major retailers.
    • Directly across from the new Emerald Acres Sports Complex, projected to draw 580,000 annual visitors.
    • Situated between Mattoon's commercial and residential areas, maximizing exposure.
    • Vacant, single‑tenant building offering 1,806 SF of retail space.
    Property Profile Location Intelligence

    Current Use by Public Records

    ATM (U.S. Bank) Atm

    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
    Mattoon
    County
    Coles
    State
    Illinois
    Longitude
    -88.3448481737
    Latitude
    39.484890611766

    Nearby Similar for Lease

    • Contact for pricing

      Cross County Mall Retail Space

      Retail spaces available at Cross County Mall in Mattoon, IL.
      508 Broadway Ave E, Mattoon, IL 61938
      View Details
    • Contact for pricing
      1,806 SF

      Cross County Mall Retail Space

      Retail spaces available at Cross County Mall in Mattoon, IL.
      403 Richmond Ave, Mattoon, IL 61938
      View Details
    • Contact for pricing
      8,933 SF

      Emerald Acres Sports Connection Retail

      Retail spaces available within a large sports and entertainment complex.
      1301 Fort Worth Way, Mattoon, IL 61938
      View Details
    • $5 SF/Yr
      27,540 SF

      Versatile Retail/Training Space Available

      Adaptable space suitable for retail, training, or office use.
      301-305 Richmond Ave E, Mattoon, IL 61938
      View Details
    • Contact for pricing
      2,016 SF

      Emerald Acres Sports Connection Retail

      Retail space available within a large sports complex development.
      1406 Fort Worth Way, Mattoon, IL 61938
      View Details
    • Contact for pricing
      156,226 SF

      Cross County Mall Retail Spaces

      Prime Mattoon, IL shopping mall spaces.
      700 Broadway Ave, Mattoon, IL 61938
      View Details

    FAQs

    What type of property is this?
    Individual retail property - 1,806 SF Bank Building, 1.6 Acres
    Where is this individual retail property located?
    The property is located at 402 Richmond Ave Mattoon, IL.
    What are key features of this property?
    This property features: 1,806 SF former bank building on a 1.6-acre lot in Mattoon, IL (61938).; High-visibility location across from Cross County Mall, anchored by major retailers.; Directly across from the new Emerald Acres Sports Complex, projected to draw 580,000 annual visitors.
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    Mattoon, IL 61938
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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
    402 Richmond Ave Mattoon, IL 61938
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