201 Lake St Salem, IL 62881
This exceptional commercial property, located at 201 W LAKE Street in Salem, Illinois, 62881, presents a unique opportunity for investors and business owners. Priced at $119,000, the property features a nearly new metal building situated on a sizable lot. The building boasts a concrete floor, offering a solid foundation for various commercial uses. The interior is currently open and adaptable, allowing for customization to meet specific business needs. The building includes 10-foot ceilings, providing ample vertical space. Access is facilitated by a convenient garage door. Essential utilities are already in place, including electricity, water drains, and water lines. The property also benefits from a gravel driveway and ample parking, with at least eight spaces available. The new owner will be responsible for installing a fence or shrubbery along the west property line. This property is ideally suited for a range of commercial ventures, offering a blend of existing infrastructure and customization potential in a desirable location within Salem, IL. The property's address is precisely 201 W LAKE Street, Salem, Marion County, Illinois, with GPS coordinates of 38.6163587 latitude and -88.9469431 longitude.
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.