Property profile

0 Rt 162 & Formosa Rd Troy, IL 62294

OFF-MARKET
Land
2.1 ac lot
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Property summary

AI-generated overview

This exceptional industrial land offering presents a unique opportunity in Troy, Illinois. Located at the intersection of Rt 162 and Formosa Road in Madison County (zip code 62294), this property boasts flexible lot sizes ranging from 2.1 to 3.52 acres, all zoned I-1 for light industrial use. The site is conveniently situated for excellent access to I-55, providing seamless transportation links. The land is preliminarily plotted into lots of approximately 450 feet by 200 feet, although these dimensions are adaptable to suit individual buyer needs. The seller is willing to divide the land into parcels ranging from one to sixteen contiguous acres, offering significant flexibility for various development projects. Furthermore, build-to-suit options are available, allowing for customized construction to meet specific requirements. All utilities are readily accessible, and the property permits the construction of steel buildings and outdoor storage. While restrictive covenants are in place, they are designed to maintain the quality and character of the development. The land value is priced competitively at $2 to $2.75 per square foot. This prime location and versatile zoning make this an ideal investment for businesses seeking a strategic foothold in the thriving industrial sector of Madison County.

Property profile

Verified
Property type Land
Lot 2.1 ac (91,476 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

Rt 162 & Formosa Rd Troy, IL 62294
Troy metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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