1302 Fair St, Marion, IL 62959
This exceptional investment opportunity presents a prime commercial land parcel located at 1302 N Fair Street, Marion, Illinois, 62959. The property boasts eight units, comprised of two four-plex buildings situated on a corner lot at the intersection of Fair and Thompson Streets. Each unit offers approximately 1045 square feet of living space, featuring an identical floor plan. The open-concept design seamlessly integrates the living, dining, and kitchen areas. Two bedrooms and two full bathrooms are included in each unit; master bathrooms include walk-in showers. Each unit also includes a one-car garage, plus additional parking space on a concrete pad. Convenient attic storage is accessible via a pull-down ladder in the garage. Luxury vinyl flooring is installed throughout. The great room (kitchen/living area) measures approximately 15'4" x 25', while bedrooms are roughly 11' x 12' and 11' x 15'. A small patio with a semi-private partition is located in the rear of each unit. Currently, four units generate $900 per month in rent (three are month-to-month leases), and four units command $1000 per month under existing leases. The asking price for this lucrative investment is $997,500.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.