Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Versatile Commercial Building Near I-57 Title is generated by Realmo AI

    1912 W Rendleman Street, Marion, IL 62959

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    8550 SF building suitable for office or event center.

    Type:Special Purpose
    Property size:
    8,550 SF
    Price / SF:
    $58/SF
    Added:
    Aug 15, 2023
    Days on Market:
    1021
    Last Refresh:
    May 12 at 10:29 pm

    Property Features for 1912 W Rendleman Street

    General Information

    Standard status
    Active
    Size
    8,550 SF
    Property subtype
    Special Purpose

    Building Details

    Year Built
    1982

    We can help!

    Listing Contact
    Dave Thompson

    Listing agent Dave Thompson License #IL 471005854

    Listing office C21 House of Realty, INC.

    Listing date Aug 15, 2023

    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 C21 House of Realty, INC.

    HighLights

    • 8550 sq ft steel structure adaptable for various uses.
    • Convenient location just off I‑57.
    • Currently configured as Office Space and Event Center.
    • Event Center with 12' ceilings.
    • Electric Heat Pump and Central Air.
    • Well maintained.

    Overview

    This 8550 square foot steel structure is conveniently located just off I-57 and could be adapted for many uses. Currently configured as office space and an event center, the property is well maintained and features electric heat pump and central air. The event center area has 12-foot ceilings, while other ceiling heights vary. This property presents a versatile opportunity for various commercial endeavors.
    Location Intelligence

    Current Use by Public Records

    Wedding venues

    Map

    City
    Marion
    County
    Williamson
    State
    Illinois
    Longitude
    -88.9226
    Latitude
    37.7041

    Nearby Similar for Sale

    • $475,000
      5,229 SF

      Marion Office Building on 2.62 Acres

      Freestanding 5,229 SF office building on 2.62 acres.
      3309 Water Tower Road, Marion, IL 62959
      View Details
    • $1,950,000

      Marion, IL Commercial Opportunity

      Turnkey mechanic shop with land and loyal customer base.
      1504 E MAIN, Marion, IL 62959
      View Details
    • $190,000

      Marion Industrial Building For Sale

      3,864 sq. ft. building on 0.32 acres in Marion, IL.
      3310 Water Tower Road, Marion, IL 62959
      View Details
    • $499,125

      Freestanding Hardee's Drive-Thru For Sale

      Single tenant Hardee's with drive-thru on 0.92 acres.
      1106 North Carbon Street, Marion, IL 62959
      View Details
    • $1,250,000
      18,454 SF

      Versatile Commercial Building in Marion

      18,454 sq ft commercial building with redevelopment potential.
      914 W MAIN Street, Marion, IL 62959
      View Details
    • $1,195,000
      2,040 SF

      Single-Tenant Bank Branch For Sale

      Single-tenant bank branch with long-term lease and drive-thru.
      908 E Deyoung St, Marion, IL
      View Details
    • $735,000
      8,500 SF

      Office and Residential Income Property

      Investment property with office space and residential income potential.
      805 W DeYoung Street, Marion, IL 62959
      View Details
    • $850,000
      17,040 SF

      RV Storage Facility For Sale

      RV storage facility with full hookups and concrete parking.
      302 N. Russell Street, Marion, IL 62959
      View Details
    • Contact for pricing

      Commercial Hub Hotel Opportunity

      Hotel property in Marion, Illinois, a regional service center.
      2710 W Deyoung St, Marion, IL 62959
      View Details
    • $850,000
      10,000 SF

      Auto Body Shop For Sale

      Fully equipped 10,000 SF auto body shop on fenced lot.
      1901 PRINCETON Avenue, Marion, IL 62959
      View Details
    • $149,000
      1,500 SF

      Versatile Commercial Building in Marion

      Commercial building with flexible space in downtown Marion.
      105 S RUSSELL Street, Marion, IL 62959
      View Details
    • $1,993,000
      1,760 SF

      Take 5 Oil Change Investment

      NNN leased investment property with over 14 years remaining.
      2814 Joseph Cannon Wy, Marion, IL
      View Details

    FAQs

    What type of property is this?
    Wedding venue - 8550 SF building suitable for office or event center.
    Where is this wedding venue located?
    The property is located at 1912 W Rendleman Street Marion, IL.
    What is the asking price?
    The asking price for this property is $499,000.
    What are key features of this property?
    This property features: 8550 sq ft steel structure adaptable for various uses.; Convenient location just off I‑57.; Currently configured as Office Space and Event Center.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Dave Thompson
    Real Estate License ID: IL 471005854
    Learn More
    Request Owner's contact information
    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.
    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
    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
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1912 W Rendleman Street, Marion, IL 62959
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!