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    Land

    1302 Fair St, Marion, IL 62959

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    Property summary
    AI-generated overview

    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.

    Property profile
    Verified
    Property type Land
    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
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    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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