3020-24 Park Ave, Herrin, IL 62948
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.
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
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.