Property profile

3020-24 Park Ave Herrin, IL 62948

OFF-MARKET
Commercial real estate
9,232 SF 2.27 ac lot Built 2009
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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

Location

3020-24 Park Ave Herrin, IL 62948
Herrin metro
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Value estimations

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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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