207 Main St Salem, IL 62881
- Commercial real estate
Current Use by Public Records
- Quad County Title Co / Title Company
- Near North Title Group - Salem IL / Title Company
Property Details for 207 Main St
- Property type
- Commercial real estate
- APN
- 1100008530
- APU
- 1100008530
Description
This exceptional 2,700 square foot commercial building is ideally situated on Main Street in the heart of Salem's bustling business district. Boasting prominent street frontage, this property presents a versatile opportunity for a variety of commercial uses. The current layout features a spacious reception and waiting area, perfectly suited for retail operations or as a welcoming entrance to office space. A sizable conference room provides a professional setting for meetings, while three individual offices offer privacy for focused work. Additional amenities include a dedicated workroom, restroom facilities, a convenient file room, and a comfortable break area. A partial basement offers extra storage space, and the abundance of storage could easily be adapted for retail warehousing needs. Parking is readily available, with on-street parking directly in front of the building, supplemented by several private parking spaces accessible from the rear. The 0.08-acre lot provides ample space for convenient access and potential future expansion. This property represents a rare opportunity to acquire a well-maintained commercial building in a highly desirable location with significant potential for growth and profitability. The flexible floor plan and ample storage make it suitable for a wide range of businesses. Don't miss this chance to establish your business in the vibrant Salem commercial district.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $75,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $65,000
- 6.5%
- $70,000
- 7%
- $70,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $65,000
- Geo Method
- $75,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $65,000
- Retail
- $75,000
- Mixed-Use
- $80,000
- Hospitality
- $80,000
- Educational
- $75,000
- Residential Income
- $80,000
- Energy
- $80,000
- Income-Based Land
- $65,000
- Food Service
- $75,000
Location Insight
- Map
- Local Demand
- City
- Salem
- County
- Marion
- State
- Illinois
- Longitude
- -88.9442
- Latitude
- 38.6268
- CBSA code
- 16460
- CBSA name
- CENTRALIA, IL MICROPOLITAN STATISTICAL AREA
