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    200 Park Ave Herrin, IL 62948

    Sponsored
    For Sale
    $1,400,000

    Historic building, 5 units, high income potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional investment opportunity presents a unique blend of commercial and residential properties. The Baldwin Piano & Organ Center, a 1910 landmark in downtown Herrin, Illinois, boasts a rich history and significant income potential. The main floor offers 12,000 square feet of adaptable retail space, featuring large storefront windows, high ceilings, and preserved original architectural details. Upstairs, 3,800 square feet of additional commercial space is ideal for offices or studios. Complementing the commercial areas are five spacious apartments, each blending historical charm with modern amenities, providing a consistent rental income stream. The property consists of three buildings situated on a land parcel in the heart of Herrin's vibrant downtown, benefiting from high foot traffic and a strong community presence. This multi-faceted property offers a lucrative investment opportunity with multiple income streams, making it an attractive prospect for discerning investors seeking a piece of Herrin's history and a strong return on investment. The property is located at 200 N PARK Avenue, Herrin, IL 62948. Asking price is $1,400,000.

    Property Features for 200 Park Ave

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1910
    Buildings
    3
    Units
    5
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Herrin
    County
    Williamson
    State
    Illinois
    Longitude
    -89.0271742
    Latitude
    37.8044996

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    FAQs

    What type of property is this?
    Multifamily property - Historic building, 5 units, high income potential.
    Where is this multifamily property located?
    The property is located at 200 Park Ave Herrin, IL.
    What is the asking price?
    The asking price for this property is $1,400,000.
    Request Owner's contact information
    200 Park Ave Herrin, IL 62948
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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
    200 Park Ave Herrin, IL 62948
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