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    1515 Walnut St Murphysboro, IL 62966

    Sponsored
    For Sale
    $165,000

    Prime IL Commercial Land, Two Buildings

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Murphysboro, IL property, located at 1515 WALNUT Street, 62966, presents a unique investment opportunity. Priced at $165,000, this commercial land features two buildings constructed in 1990 on a lot zoned for both residential and commercial use. The main building, originally built in 1898 and remodeled in 1990, offers spacious rooms with high ceilings, perfect for a variety of commercial ventures. Its past uses include a hair salon and florist shop, suggesting suitability for boutiques, offices, or creative studios. Alternatively, the adaptable space could easily be converted into residential living quarters. A separate garage apartment/cottage is currently generating income as a short-term rental, providing immediate return on investment. This property's versatility, combined with its charming character and prime location in Jackson County, Illinois, makes it an ideal choice for entrepreneurs seeking a live-work space or investors looking for a promising commercial venture. The property's latitude and longitude coordinates are 37.7641088, -89.3400824 respectively. This is a rare opportunity to acquire a property with significant potential in a desirable location.

    Property Features for 1515 Walnut St

    General Information

    Property type
    Land

    Building Details

    Year Built
    1990
    Buildings
    2

    HighLights

    • $165,000 asking price.
    • Commercial land in Murphysboro, IL.
    • Two buildings on the property.
    • Built in 1990 (with original construction in 1898).
    • Zoned for residential and commercial use.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    Murphysboro
    County
    Jackson
    State
    Illinois
    Longitude
    -89.3400824
    Latitude
    37.7641088

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    FAQs

    What type of property is this?
    Land - Prime IL Commercial Land, Two Buildings
    Where is this land located?
    The property is located at 1515 Walnut St Murphysboro, IL.
    What is the asking price?
    The asking price for this property is $165,000.
    What are key features of this property?
    This property features: $165,000 asking price.; Commercial land in Murphysboro, IL.; Two buildings on the property.
    Request Owner's contact information
    1515 Walnut St Murphysboro, IL 62966
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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
    1515 Walnut St Murphysboro, IL 62966
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