Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    747 State St Charleston, IL 61920

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    0.92-acre lot, ready to build, all utilities.

    Property Features for 747 State St

    General Information

    Property type
    Land
    Lot Size
    40,075 SF

    We can help!

    Listing Contact
    John Inyart
    John Inyart

    Listing Agency: TCI Realty LLC Listing Agent: John Inyart

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

    Learn more

    Overview

    This exceptional 0.92-acre commercial/industrial lot is situated in Charleston, Illinois's desirable Northwest Business Park. Ideally located at 747 West State Street, zip code 61920, this property (Lot 2) presents a fantastic opportunity for immediate development. All utilities are readily available, simplifying the construction process and minimizing upfront costs. The lot is zoned for Light Industrial use, offering versatility for a range of businesses. The property's location is easily accessible, with directions provided as follows: travel west on Route 316 (West State Street) past the fairgrounds to the Northwest Business Park. The lot is conveniently located on the north side of State Street. This parcel offers significant potential, especially when considered in conjunction with the adjacent western lot, which would create a combined area of over two acres. The asking price for this prime piece of land is $49,900. Don't miss this chance to secure a strategic location for your next venture in a thriving business park.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Charleston
    County
    Coles
    State
    Illinois
    Longitude
    -88.194795362081
    Latitude
    39.500544902193

    Nearby Similar for Sale

    • $99,000
      0.19 Acres

      Historic Commercial Building in Charleston

      Well-maintained commercial building in downtown Charleston, suitable for various uses.
      307 6Th St, Charleston, IL 61920
      View Details
    • $395,000
      1,800 SF

      Office Property with Development Potential

      Three-building office property with leasing and development opportunities.
      102 W Lincoln Ave, Charleston, IL 61920
      View Details
    • $270,000

      Restaurant Building with Drive-Through

      3,600 SF restaurant building with drive-through and full kitchen.
      430 W State St, Charleston, IL 61920
      View Details
    • Contact for pricing
      3,160 SF

      Charleston, IL Former KFC Property

      Former KFC property with drive-thru in Charleston, Illinois.
      2310 Lincoln Ave, Charleston, IL 61920
      View Details
    • $795,000

      22-Space Mobile Home Community

      Mobile home community in college town with public utilities.
      617 W State St, Charleston, IL 61920
      View Details

    FAQs

    What type of property is this?
    Land - 0.92-acre lot, ready to build, all utilities.
    Where is this land located?
    The property is located at 747 State St Charleston, IL.
    What is the asking price?
    The asking price for this property is $49,900.
    What are key features of this property?
    This property features: 0.92-acre commercial/industrial lot in Charleston, IL's Northwest Business Park.; Located at 747 West State Street, zip code 61920.; Light Industrial zoning, all utilities available.
    (217) 232-1115 Call to check price and availability
    Request Owner's contact information
    747 State St Charleston, IL 61920
    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.
    747 State St
    Charleston, IL 61920
    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
    747 State St Charleston, IL 61920
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing John Inyart
    John Inyart
    Real Estate License ID: ILLINOIS475.202774
    (217) 232-1115 (217) 348-6022
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!