Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Rte 116 Hwy Metamora, IL 61548
    Back to Search
    Property profile & analytics

    Rte 116 Hwy Metamora, IL 61548

    View on Map
    • Commercial real estate
    • 25.39 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for Rte 116 Hwy

    Lot size
    25.39 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 25.39-acre commercial property presents a rare development opportunity in Metamora, Illinois. Situated directly on Route 116, this site boasts excellent visibility and accessibility, with convenient ingress and egress directly to the state highway. The high traffic counts on Route 116 ensure significant exposure for any future development. Currently used for agricultural purposes, the land offers a blank canvas for a variety of commercial ventures. The expansive acreage provides ample space for large-scale projects, allowing for flexibility in design and functionality. This location offers significant potential for businesses seeking high visibility and convenient access to a major thoroughfare. The property's strategic location and substantial size make it an ideal investment for developers seeking a prime commercial site with significant growth potential. Serious inquiries are encouraged to explore the possibilities this exceptional property offers. The asking price is $6,000,000. This is a unique opportunity to acquire a substantial commercial parcel in a desirable location. Don't miss out on this chance to build your vision.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Metamora
    County
    Woodford
    State
    Illinois
    Longitude
    -89.4136
    Latitude
    40.7898

    Comparable in this City

    • Value Estimation by Request

      410 Flag St

      COMMERCIAL (GENERAL)
      410 Flag St, Metamora, IL 61548-8368
      View Details
    • Value Estimation by Request

      1000 Lilac Ln

      COMMERCIAL (GENERAL)
      1000 Lilac Ln, Metamora, IL 61548-8370
      View Details
    • Value Estimation by Request

      Old Germantown Rd

      COMMERCIAL (GENERAL)
      Old Germantown Rd, Metamora, IL 61548
      View Details
    • Value Estimation by Request
      4.23 Acres

      1741 State Rte 26

      COMMERCIAL (GENERAL) • 4.23 Acres
      1741 State Rte 26, Metamora, IL 61548-9578
      View Details
    • Value Estimation by Request

      Metamora, IL 61548

      COMMERCIAL (GENERAL)
      Metamora, IL 61548
      View Details
    • Value Estimation by Request
      80.00 Acres

      Metamora, IL 61548

      COMMERCIAL (GENERAL) • 80.00 Acres
      Metamora, IL 61548
      View Details

    Similar Nearby for Sale

    • $289,000
      2,420 SF

      Metamora Restaurant & Event Space

      Turn-key restaurant on 5.36 acres
      920 Niles St, Metamora, IL 61548
      View Details
    • $64,990

      Residential Land in Metamora, IL

      Golf course lot suitable for residential construction with daylight basement.
      Kyle Ct, Metamora, IL 61548
      View Details
    • $64,990
      0.29 Acres

      Golf Course Lot in Metamora

      Residential land with potential for a walkout basement.
      Brittany Ct, Metamora, IL 61548
      View Details
    • $74,990
      0.38 Acres

      Residential Lot on Golf Course

      Residential lot available on Metamora Fields Golf Course.
      Brittany Ct, Metamora, IL 61548
      View Details
    • $79,990

      Residential Land Near Golf Course

      Residential land for sale near Metamora High School.
      818 Ring Dr, Metamora, IL 61548
      View Details
    • $74,990

      Residential Land on Golf Course

      Residential land on an 18-hole golf course.
      1019 Harmon Ln, Metamora, IL 61548
      View Details
    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.
    Rte 116 Hwy
    Metamora, IL 61548
    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
    Rte 116 Hwy, Metamora, IL, 61548
    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!