513 Chestnut St Mount Pulaski, IL 62548
- Commercial real estate
- 0.41 lot acres
Current Use by Public Records
- Subway / Sandwich Shop / Caterer
Property Details for 513 Chestnut St
- Lot size
- 0.41 lot acres
- Property type
- Commercial real estate
- APN
- 06-064-030-70
- APU
- 606403070
Description
This exceptional commercial property, located at 513 E Chestnut Street in Mt. Pulaski, Illinois, presents a unique investment opportunity. Priced at $169,000, this .41-acre lot features a brick and vinyl-sided building previously occupied by a Subway restaurant. The structure boasts a spacious dining area, a well-equipped prep area, a dedicated office, and two ADA-compliant restrooms. All existing appliances, including tables, chairs, a walk-in cooler, and freezer, will remain with the property. Convenient features include a side parking lot facing E. Chestnut Street, a drive-thru, and a detached storage shed. The property enjoys high visibility on State Route 121, benefiting from significant daily traffic volume and proximity to established businesses like Johnson True Value, The Davis Dairy Bar, and Dollar General. Its adaptable layout makes it suitable for various uses, including restaurants, retail, or office spaces, with minimal renovation required. This property offers a compelling chance to establish a thriving business in the charming town of Mt. Pulaski and surrounding communities, including Lincoln, Elkhart, Chestnut, Lake Fork, Cornland, Decatur, Warrensburg, Latham, and Springfield. The property's location and existing infrastructure provide a solid foundation for immediate occupancy and operational success. The zip code is 62548.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $260,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $290,000
- 6.5%
- $310,000
- 7%
- $285,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $320,000
- Geo Method
- $275,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $305,000
- Retail
- $305,000
- Mixed-Use
- $235,000
- Hospitality
- $300,000
- Educational
- $270,000
- Residential Income
- $310,000
- Energy
- $275,000
- Income-Based Land
- $220,000
- Food Service
- $270,000
Location Insight
- Map
- Local Demand
- City
- Mount Pulaski
- County
- Logan
- State
- Illinois
- Longitude
- -89.279
- Latitude
- 40.0155
- CBSA code
- 30660
- CBSA name
- LINCOLN, IL MICROPOLITAN STATISTICAL AREA