1119 Morgan St, Shelbyville, IL 62565-9331
This exceptional Shelbyville, IL commercial property presents a unique investment opportunity. Priced at $399,000, this 8,000 square foot mixed-use building boasts two structures on a 1.26-acre lot. Built in 2012, the property features a spacious warehouse area exceeding 5,000 square feet, ideal for retail, storage, or a repair shop. The warehouse includes a 24' x 14' overhead door with opener, and two additional roll-up doors, one of which is a dock-high loading door. Three-phase electric service is available. The main building offers a large reception area with built-in desks and cabinets, three sizable offices, a kitchenette, and a full bathroom with a shower. Upstairs, a large conference room and an additional office provide ample space for administrative functions. The adjacent parcel provides ample parking. The property's zoning is commercial, and its proximity to Lake Shelbyville makes it particularly attractive for businesses catering to recreational activities. This versatile property offers numerous possibilities for a discerning investor. The asking price is $399,000, with a price per square foot of $49.88.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.