71 2Nd St Hume, IL 61932
- Commercial real estate
- 0.35 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 71 2Nd St
- Lot size
- 0.35 lot acres
- Property type
- Commercial real estate
- APN
- 15-02-31-331-004
- APU
- 150231331004
Description
This exceptional 2,100-square-foot mixed-use building, constructed in 2013, presents a lucrative investment opportunity in the thriving town of Hume, Illinois. Located at 71 W 2nd Street, the property boasts a custom design perfectly suited for a variety of commercial ventures. The building currently operates as a leased establishment, generating consistent rental income. The interior layout is highly functional, featuring two distinct serving areas, ideal for food service or retail operations. Two well-appointed bathrooms cater to both staff and customers. A fully equipped commercial kitchen is a significant asset, complete with four large commercial freezer/refrigerator storage units, ensuring ample capacity for food storage and preparation. Beyond the main commercial space, the building includes dedicated office areas and substantial dry storage space, providing versatility and adaptability to various business needs. The property sits on a lot with no acreage, making it easily manageable and low-maintenance. The asking price of $197,500 represents an excellent value for a turnkey commercial property in a desirable location. This is a rare opportunity to acquire a well-established, income-producing asset with significant potential for future growth and expansion. The current tenant, Twisted Piston, demonstrates the building's suitability for a thriving business. This property is ready for immediate occupancy and income generation.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $265,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $300,000
- 6.5%
- $325,000
- 7%
- $325,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $290,000
- Geo Method
- $325,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $320,000
- Retail
- $265,000
- Mixed-Use
- $310,000
- Hospitality
- $315,000
- Educational
- $315,000
- Residential Income
- $340,000
- Energy
- $285,000
- Income-Based Land
- $335,000
- Food Service
- $310,000
Location Insight
- Map
- Local Demand
- City
- Hume
- County
- Edgar
- State
- Illinois
- Longitude
- -87.8718
- Latitude
- 39.7965