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    OFF-MARKET
    Commercial real estate

    3020-24 Park Ave, Herrin, IL 62948

    9,232 SF 2.27 ac lot Built 2009
    Property ID
    Property summary
    AI-generated overview

    This exceptional 9,232 square foot commercial building, situated on a 2.27-acre lot at 3020-24 S Park Avenue in Herrin, Illinois, presents a compelling investment opportunity. Currently leased to reputable tenants under secure agreements, this property guarantees a consistent stream of rental income, minimizing the need for significant maintenance expenditures. The building is meticulously maintained, reducing operational costs and maximizing return on investment. Its strategic location within a high-demand area ensures strong tenant occupancy and potential for future rental rate increases. This property offers a rare blend of stability and growth potential, making it an ideal addition to any commercial real estate portfolio. The substantial size of the building and the generous lot size provide ample space for potential expansion or future development, further enhancing its long-term value. The existing lease agreements provide immediate cash flow, while the prime location and building condition position this asset for continued appreciation. This is a turnkey investment opportunity for those seeking a reliable and profitable addition to their holdings. The property's strong fundamentals and consistent income stream make it an attractive option for investors seeking passive income and capital appreciation in the commercial real estate market. The asking price is $1,100,000.

    Property profile
    Verified
    Property type Commercial real estate
    Year built 2009
    Total area 9,232 SF
    Lot 2.27 ac (98,881 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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