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    603 Prairie View Rd Mahomet, IL 61853

    • Grocery and convenience stores
    • 2,640 SF
    • 0.99 lot acres
    For Sale
    View listing
    $475,000
    Value Estimation
    Last Sale
    Jan 14, 2021
    $449,000
    Location Intelligence
    Property ID
    US28-1755363
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 603 Prairie View Rd

    Lot size
    0.99 lot acres
    Property size
    2,640 SF
    Property type
    Grocery and convenience stores
    APN
    151313300002
    APU
    151313300002

    Description

    This 0.99-acre commercial land parcel in Mahomet, Illinois, presents a compelling investment opportunity. Located at 603 South Prairie View Road, this property boasts a strategic position roughly two blocks north of Interstate 74 and directly across from a Dollar General store. The site includes an existing 3,120 square foot building, offering potential for immediate use or redevelopment. Currently zoned R1-A, the Village of Mahomet anticipates a zoning change request from a future buyer, given the predominantly commercial zoning of the surrounding area. This location benefits from a blend of commercial businesses and residential neighborhoods, creating a dynamic and accessible environment. The property is being sold "as is" and includes a limited number of usage restrictions. The APN is 15-13-13-300-002. This property's proximity to Interstate 74 and the existing building provide significant advantages for a variety of commercial ventures. Serious inquiries are encouraged to explore the potential of this well-situated land parcel.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $485,000

    • CAP approach

      CAP return
      Estimation
      6%
      $420,000
      6.5%
      $370,000
      7%
      $385,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $385,000
      Geo Method
      $450,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $440,000
      Retail
      $410,000
      Mixed-Use
      $450,000
      Hospitality
      $410,000
      Educational
      $460,000
      Residential Income
      $355,000
      Energy
      $365,000
      Income-Based Land
      $420,000
      Food Service
      $475,000

    Location Insight

    • Map
    • Local Demand
    City
    Mahomet
    County
    Champaign
    State
    Illinois
    Longitude
    -88.3658
    Latitude
    40.1908
    CBSA code
    16580
    CBSA name
    CHAMPAIGN-URBANA, IL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $11,331
    $72,790
    $70,380
    $143,170
    -
    $218,370
    $211,140
    $429,510

    Comparable in this City

    • Value Estimation
      $2,765,000
      6,462 SF

      1005 Purnell Dr

      CONVENIENCE STORE • 6,462 SF
      1005 Purnell Dr, Mahomet, IL 61853-8533
      View Details
    • Value Estimation
      $3,505,000
      3,380 SF

      602 Oak St

      CONVENIENCE STORE • 3,380 SF
      602 Oak St, Mahomet, IL 61853-9661
      View Details
    • Value Estimation by Request
      2,760 SF

      102 Prairieview Rd

      CONVENIENCE STORE • 2,760 SF
      102 Prairieview Rd, Mahomet, IL 61853-8531
      View Details
    • Value Estimation by Request
      2,520 SF

      506 Prairieview Rd

      CONVENIENCE STORE • 2,520 SF
      506 Prairieview Rd, Mahomet, IL 61853-8503
      View Details
    • Value Estimation
      $3,290,000
      7,387 SF

      201 Lombard St

      CONVENIENCE STORE • 7,387 SF
      201 Lombard St, Mahomet, IL 61853-9780
      View Details
    • Value Estimation
      $1,085,000
      38,280 SF

      202 Eastwood Dr

      GROCERY, SUPERMARKET • 38,280 SF
      202 Eastwood Dr, Mahomet, IL 61853-7035
      View Details

    Similar Nearby for Sale

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    • $475,000
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      Prime 0.99-acre lot, I-74 proximity.
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    • Contact for pricing
      0.70 Acres

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    Similar Nearby for Lease

    • $27 SF/Yr
      2,000 SF

      New Construction Retail/Office Space

      2,000 SF space with drive-thru, high visibility, easy access.
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      View Details
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      View Details
    • Contact for pricing

      New Commercial Space For Lease

      Prime new construction commercial space with unmatched visibility and drive-thru.
      1002 Purnell Dr, Mahomet, IL 61853
      View Details
    • $8 SF/Yr
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      Mahomet Office Space: Coworking & More

      Prime Mahomet location, flexible suites, all utilities included.
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      View Details
    • $22 SF/Yr
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      Churchill Commons Retail Space

      Mahomet, IL Retail Center - Prime Location
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      View Details
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    603 Prairie View Rd
    Mahomet, IL 61853
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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