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    400 Delaware Ave Casey, IL 62420

    • Commercial real estate
    • 13.83 lot acres
    For Sale
    View listing
    Value Estimation
    Location Intelligence
    Property ID
    US28-3967913
    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

    • Pap-R Products / Warehouse
    • y3p / Manufacturer

    Property Details for 400 Delaware Ave

    Lot size
    13.83 lot acres
    Property type
    Commercial real estate
    APN
    03-11-19-00-200-002
    APU
    3111900200002

    Description

    This exceptional investment opportunity presents a portfolio of two industrial properties totaling 307,874 square feet, situated on 9.44 acres in Casey and Martinsville, Illinois. The properties feature a combined 187,874 square feet of net rentable space and benefit from a brand new 15-year absolute triple-net (NNN) lease with Pap-R Products, ensuring minimal landlord responsibilities. Built in 1999, these strategically located warehouses offer easy access to Interstates 70 and 57 via Illinois Route 49, providing convenient access to major transportation arteries. The portfolio enjoys a long-term operating history with the tenant and is situated approximately 33 miles from Effingham, Illinois

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Casey
    County
    Clark
    State
    Illinois
    Longitude
    -87.9992
    Latitude
    39.3032

    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
    2022
    $29,834
    $15,961
    $330,394
    $346,355
    -
    $47,883
    $991,182
    $1,039,065

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    • Contact for pricing
      307,874 SF

      Illinois Industrial Portfolio Auction

      Multi-Tenant Warehouse Portfolio, 15-Year Lease
      400 Delaware Ave, Casey, IL 62420
      View Details
    • $440,000
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    400 Delaware Ave
    Casey, IL 62420
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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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