23 Central Park Plz Jacksonville, IL 62650
- Commercial real estate
- 0.04 lot acres
Current Use by Public Records
- On the Wall / Picture Frame Shop
- Holly Cakes Bakery / Wedding Bakery / Bakery
Property Details for 23 Central Park Plz
- Year built
- 1945
- Lot size
- 0.04 lot acres
- Property type
- Commercial real estate
- APN
- 09-20-255-001
- APU
- 920255001
Description
This exceptional downtown Jacksonville property at 23 S Central Park Plaza presents a unique investment opportunity. The building boasts a total of 5,400 square feet situated on a 0.04-acre lot. The ground floor offers 1,600 square feet of commercial retail space, ideal for a variety of businesses looking to establish a presence in the revitalizing downtown area. Above the retail space, a comfortable and well-appointed two-bedroom, two-and-a-half-bathroom apartment provides additional income potential or owner occupancy. The third floor is currently unfinished, offering a blank canvas for creative expansion or customization to suit specific needs. Significant updates have been made to the property over the years, including a new roof, HVAC system, electrical wiring, and plumbing, ensuring peace of mind for the new owner. This property represents a rare chance to acquire a versatile commercial building in a prime downtown location with significant upside potential. The combination of established retail space, residential living quarters, and expansive unfinished space makes this an attractive option for both investors and owner-operators seeking a blend of income generation and future development possibilities. Don't miss this chance to be a part of Jacksonville's exciting downtown transformation. The asking price is $180,000.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $155,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $135,000
- 6.5%
- $130,000
- 7%
- $155,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $145,000
- Geo Method
- $125,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $125,000
- Retail
- $115,000
- Mixed-Use
- $135,000
- Hospitality
- $145,000
- Educational
- $150,000
- Residential Income
- $150,000
- Energy
- $130,000
- Income-Based Land
- $125,000
- Food Service
- $140,000
Location Insight
- Map
- Local Demand
- City
- Jacksonville
- County
- Morgan
- State
- Illinois
- Longitude
- -90.2297
- Latitude
- 39.7335
- CBSA code
- 27300
- CBSA name
- JACKSONVILLE, IL MICROPOLITAN STATISTICAL AREA