1600 Fayette Ave Effingham, IL 62401
- Commercial real estate
- 3.83 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1600 Fayette Ave
- Lot size
- 3.83 lot acres
- Property type
- Commercial real estate
- APN
- 03-11-019-020
- APU
- 311019020
Description
This exceptional 3.83-acre commercial land parcel presents a unique investment opportunity in Effingham, Illinois. Ideally situated on 1600 W Fayette Ave, this property boasts unparalleled visibility and accessibility, directly benefiting from its proximity to the I-57/70 corridor at Exit 159. The site is zoned B-2, offering flexibility for a variety of commercial developments. Its strategic location places it within a half-mile radius of the proposed Effingham Showcase Center Sports Complex, ensuring high potential for future growth and increased traffic. The property's adjacency to established businesses, including Ramada by Wyndham, Holiday Inn Express, Phillips 66, Culver's, and Hardee's, further enhances its desirability. High traffic counts are a significant advantage, with over 43,000 average daily vehicles and 21,200 average daily trucks on I-57/70, and over 12,000 on Fayette Ave. The property benefits from its location within an Enterprise Zone, Triangle Business District, and Opportunity Zone, offering potential tax advantages. Infrastructure is well-established, with Ameren 3-phase power available on three sides (Circuit 566). Due diligence is simplified by the availability of an EPA Phase I environmental assessment and a 2024 title commitment. This property is offered for sale, lease, or as a build-to-suit project, catering to diverse development needs. The APN is 0311019020, and the ownership is fee simple.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $725,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $650,000
- 6.5%
- $675,000
- 7%
- $750,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $740,000
- Geo Method
- $605,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $805,000
- Retail
- $740,000
- Mixed-Use
- $665,000
- Hospitality
- $770,000
- Educational
- $815,000
- Residential Income
- $600,000
- Energy
- $645,000
- Income-Based Land
- $600,000
- Food Service
- $630,000
Location Insight
- Map
- Local Demand
- City
- Effingham
- County
- Effingham
- State
- Illinois
- Longitude
- -88.5635
- Latitude
- 39.1218
- CBSA code
- 20820
- CBSA name
- EFFINGHAM, IL MICROPOLITAN STATISTICAL AREA
