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    603 Broad St Jonesboro, IL 62952

    Sponsored
    For Sale
    $500,000

    High-traffic retail land with two buildings.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional commercial property, located on a hill in Jonesboro, Illinois (zip code 62952), presents a significant business opportunity. The property consists of two buildings situated on a large paved lot with ample lighting. The main building, formerly a grocery store, boasts approximately 22,000 square feet of space. This substantial building includes office space, a break room, separate men's and women's restrooms, a dedicated storage area, a walk-in cooler, and a convenient loading dock. The second building, slightly over 2200 square feet, is currently leased to an established long-term tenant, providing immediate rental income. The property's prime location in a high-traffic area of Jonesboro, within Union County, offers excellent visibility and accessibility. The asking price for this expansive commercial property is $500,000. The property is classified as both land and retail, offering a multitude of potential uses and development opportunities. This is an ideal investment for entrepreneurs seeking a well-established location with significant existing infrastructure. The combination of a large main building and a separately leased smaller building provides both immediate income and significant expansion potential.

    Property Features for 603 Broad St

    General Information

    Property type
    Retail properties

    HighLights

    • 22,000 SF main building, formerly a grocery store, with office space, break room, restrooms, storage, walk‑in cooler, and loading dock.
    • 2,200 SF secondary building with a long‑term tenant, generating immediate rental income.
    • Located on a large paved lot with ample lighting in a high‑traffic area of Jonesboro, IL (62952).
    • Asking price: $500,000.
    • Land and retail classification, offering diverse development potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    A J Video Video Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Jonesboro
    County
    Union
    State
    Illinois
    Longitude
    -89.262144
    Latitude
    37.4528601

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    FAQs

    What type of property is this?
    Retail property - High-traffic retail land with two buildings.
    Where is this retail property located?
    The property is located at 603 Broad St Jonesboro, IL.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: 22,000 SF main building, formerly a grocery store, with office space, break room, restrooms, storage, walk-in cooler, and loading dock.; 2,200 SF secondary building with a long-term tenant, generating immediate rental income.; Located on a large paved lot with ample lighting in a high-traffic area of Jonesboro, IL (62952).
    Request Owner's contact information
    603 Broad St Jonesboro, IL 62952
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    Jonesboro, IL 62952
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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
    603 Broad St Jonesboro, IL 62952
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