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    Property profile & analytics

    816 Adams St Golconda, IL 62938

    • Motels
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-3853247
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Unity Lodge / Hotel / Hostel
    • Michael's Motel / Motel

    Property Details for 816 Adams St

    Year built
    1989
    Property type
    Motels

    Description

    This exceptional investment opportunity presents a 12-unit motel situated in Golconda, Illinois, at 816 Adams St, zip code 62938. Built in 1989, the property consists of two buildings and offers ample parking for 25 vehicles. The motel includes all fixtures and furnishings, making it a turnkey operation. A significant advantage is the inclusion of a separate manager's apartment, providing convenient on-site management. Further enhancing the property's utility is a shed, ideal for storing equipment related to maintenance and groundskeeping. The motel benefits from its strategic location on the Ohio River, a prime area for hunting, fishing, and recreation. The proximity to annual festivals, including deer, shrimp, and BBQ events, ensures a consistent stream of overnight tourists. The asking price for this well-maintained and established business is $199,900. This presents a rare chance to acquire a profitable hospitality business in a desirable location with significant potential for growth. The property's features, combined with its location in a popular recreational area, make it an attractive investment for those seeking a strong return on investment in the hospitality sector. Don't miss this chance to own a thriving motel business.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Golconda
    County
    Pope
    State
    Illinois
    Longitude
    -88.4897285
    Latitude
    37.3608893

    Comparable in this City

    • $84,900
      6.36 Acres

      Land with Shawnee Forest Access

      6.361 acres with easement access to Shawnee National Forest.
      Lusk Rd, Golconda, IL 62938
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    • Contact for pricing
      2.00 Acres

      Residential Land in Golconda, IL

      Two-acre residential land near downtown Golconda and Ohio River.
      Lewis St, Golconda, IL 62938
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    • $79,900
      5.90 Acres

      Land with Shawnee Forest Access

      5.902 acres with easement to Shawnee National Forest.
      Lusk Rd, Golconda, IL 62938
      View Details
    • $60,237
      4.46 Acres

      Equestrian Land Near Shawnee Forest

      4.46-acre tract steeped in equestrian history near Shawnee National Forest.
      002 Lusk Rd, Golconda, IL 62938
      View Details
    • $79,677
      5.90 Acres

      Equestrian Land Near Shawnee Forest

      5.9 acres near One Horse Gap Lake, equestrian-friendly and versatile.
      009 Lusk Rd, Golconda, IL 62938
      View Details
    • $197,800
      46.00 Acres

      Recreational Land with Creek Frontage

      Premier recreational property with Lusk Creek frontage near Golconda, IL.
      000 Lightplant Rd, Golconda, IL 62938
      View Details

    Similar Nearby for Sale

    • $84,900
      6.36 Acres

      Land with Shawnee Forest Access

      6.361 acres with easement access to Shawnee National Forest.
      Lusk Rd, Golconda, IL 62938
      View Details
    • Contact for pricing
      2.00 Acres

      Residential Land in Golconda, IL

      Two-acre residential land near downtown Golconda and Ohio River.
      Lewis St, Golconda, IL 62938
      View Details
    • $79,900
      5.90 Acres

      Land with Shawnee Forest Access

      5.902 acres with easement to Shawnee National Forest.
      Lusk Rd, Golconda, IL 62938
      View Details
    • $60,237
      4.46 Acres

      Equestrian Land Near Shawnee Forest

      4.46-acre tract steeped in equestrian history near Shawnee National Forest.
      002 Lusk Rd, Golconda, IL 62938
      View Details
    • $213,570
      50.85 Acres

      Recreational Land Near Ohio River

      50.85 acres of surveyed land near Golconda, Illinois.
      000 Il Hwy 146, Golconda, IL 62938
      View Details
    • $89,900
      5.90 Acres

      Land Near Shawnee National Forest

      5.902 acres near Shawnee National Forest with water access.
      Lusk Rd, Golconda, IL 62938
      View Details
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    816 Adams St
    Golconda, IL 62938
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    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
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