1500 Walnut St Jacksonville, IL 62650
- Commercial real estate
- 1.99 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1500 Walnut St
- Lot size
- 1.99 lot acres
- Property type
- Commercial real estate
- APN
- 09-18-200-002
- APU
- 918200002
Description
This exceptional 18,000 square foot commercial property, located at 1500 W Walnut Street in Jacksonville, Illinois, presents a unique investment opportunity. Previously operated as a nursing home, the building has undergone renovations and is ideally suited for immediate re-opening as a senior care facility. Its prime northwest Jacksonville location offers significant advantages, situated adjacent to a hospital and surrounded by a mix of office, retail, and residential areas, ensuring high visibility and convenient access for residents and staff. The property sits on a generous two-acre lot, providing ample space for potential expansion to meet future needs or accommodate additional services. Abundant parking is available on-site, addressing the parking requirements of both residents and visitors. The building's recent updates make it move-in ready, minimizing the time and expense associated with renovations, allowing for a swift return on investment. This turnkey opportunity combines a desirable location, substantial square footage, and the potential for significant growth within a thriving community. The property's existing infrastructure and convenient location make it an attractive proposition for investors seeking a high-return investment in the senior care sector. The two-acre lot offers significant potential for future development and expansion, catering to the evolving needs of the senior care market. This is a rare opportunity to acquire a well-located, updated facility ready for immediate occupancy.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $260,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $220,000
- 6.5%
- $220,000
- 7%
- $195,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $210,000
- Geo Method
- $200,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $240,000
- Retail
- $205,000
- Mixed-Use
- $185,000
- Hospitality
- $195,000
- Educational
- $255,000
- Residential Income
- $195,000
- Energy
- $225,000
- Income-Based Land
- $250,000
- Food Service
- $185,000
Location Insight
- Map
- Local Demand
- City
- Jacksonville
- County
- Morgan
- State
- Illinois
- Longitude
- -90.2572
- Latitude
- 39.746
- CBSA code
- 27300
- CBSA name
- JACKSONVILLE, IL MICROPOLITAN STATISTICAL AREA
