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    OFF-MARKET
    Commercial real estate

    1106 Phemister Ln, Marion, IL 62959

    11,240 SF 1.17 ac lot Built 2004
    Property ID
    Property summary
    AI-generated overview

    This exceptional commercial property, located at 1106 Phemister Lane in Marion, Illinois, presents a fantastic opportunity for businesses seeking a substantial footprint in a thriving community. The building boasts 11,240 square feet of versatile space, ideal for a variety of commercial uses. A significant portion of this space is comprised of an open floor plan, offering flexibility for customization and efficient layout design. In addition to the expansive open area, the property includes a dedicated office space equipped with convenient restrooms. The building is equipped with two heating and cooling units, ensuring year-round comfort and operational efficiency. Situated on a 1.17-acre lot, the property offers significant additional land beyond the building's footprint. Approximately half an acre is occupied by the building itself, leaving a substantial level parcel of land available for expansion, parking, outdoor storage, or other uses as determined by the new owner. This property represents an affordable entry point into the Marion commercial real estate market, offering a compelling combination of size, functionality, and location. The property's prime location within the growing Marion community ensures excellent visibility and accessibility, making it an attractive option for businesses seeking to establish or expand their operations. This is a rare opportunity to acquire a substantial commercial property at a competitive price.

    Property profile
    Verified
    Property type Commercial real estate
    Year built 2004
    Total area 11,240 SF
    Lot 1.17 ac (50,965 SF)
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
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    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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