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    Commercial Lots in Growing Aledo Title is generated by Realmo AI

    Lot 6 SE 13TH Avenue Court, Aledo, IL 61231

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    Commercial lots with utilities, great location for new business.

    Type:Land
    Added:
    Jul 1, 2021
    Days on Market:
    1787
    Last Refresh:
    May 20 at 8:13 pm

    Property Features for Lot 6 SE 13TH Avenue Court

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Starr Fell

    Listing agent Starr Fell

    Listing office EXP REALTY, LLC

    Listing date Jul 1, 2021

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of EXP REALTY, LLC

    HighLights

    • Prime corner location at the intersection of Highway 17 and Highway 94, offering high visibility and accessibility.
    • Utilities available at the lot line, simplifying the building process.
    • High traffic area ensures consistent exposure for businesses.
    • Proximity to major retailers and services like Walmart, McDonalds, and banks.
    • Located in Aledo, a rapidly growing community with ongoing development projects.
    • City road frontage for all lots, with specific lots featuring Highway 17/94 or Highway 94 frontage.

    Overview

    Commercial lots are available in Aledo, Illinois, with utilities at the lot line. The location is positioned at the intersection of Highway 17 and Highway 94, offering visibility from nearby establishments such as Walmart, McDonalds, Mercer Market Grocery Store, a local Mexican restaurant, Casey's Gas Station, AutoZone, Blackhawk Bank, a local church, a physical therapist, and a veterinary clinic. Lot 8 is currently occupied by Midwest Bank. All lots have city road frontage. Lot 1 features Highway 17/94 frontage, and lot 7 has highway 94 frontage. Lots 4 & 5 are pending and projected to start development in 2024. The Historic Downtown area is undergoing restoration, and the local YMCA has undergone a multi-million dollar expansion. Schools in town are preparing for each building to complete construction on an expansion, as well as new homes being built and an apartment building to begin construction/renovation and the announcement of a new Aquatic Center to begin construction in 2024. A new Campground has opened up just South of town and Motorsports Trails opened in 2023 just north of town. Aledo is centrally located between Davenport, Muscatine, Burlington, and Galesburg.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Aledo
    County
    Mercer
    State
    Illinois
    Longitude
    -90.7165
    Latitude
    41.1928

    Nearby Similar for Sale

    • $120,000

      Commercial Lots in Growing Aledo

      Commercial lots with utilities, ready for new business construction.
      Lot 1 SE 13TH Avenue Court, Aledo, IL 61231
      View Details
    • $100,000

      Commercial Lots in Growing Aledo

      Commercial lots with utilities in a growing community.
      Lot 4 SE 13TH Avenue Court, Aledo, IL 61231
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial lots with utilities, great location for new business.
    Where is this commercial land located?
    The property is located at Lot 6 SE 13TH Avenue Court Aledo, IL.
    What is the asking price?
    The asking price for this property is $80,000.
    What are key features of this property?
    This property features: Prime corner location at the intersection of Highway 17 and Highway 94, offering high visibility and accessibility.; Utilities available at the lot line, simplifying the building process.; High traffic area ensures consistent exposure for businesses.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Starr Fell
    Learn More
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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
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