Property profile

114 E Market St Colchester Colchester, IL 62326

FOR SALE
Commercial real estate
Property ID
US28-4555438
Individually Owned 2-yr Hold Free & Clear
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Property summary

AI-generated overview

This 1,750 square foot commercial building, located at 114 E Market Street in Colchester, Illinois, presents a fantastic opportunity for entrepreneurs and investors. The property has recently undergone a complete cleaning, making it move-in ready for immediate occupancy. Situated in a city with no zoning restrictions, this building offers unparalleled flexibility for a wide range of business ventures. The property is situated on a block that has experienced significant improvements in recent years, indicating a positive trend in the neighborhood's development. A new on-demand water heater was installed in 2024, ensuring efficient and modern utility systems. The building's spacious layout provides ample room for various business configurations. The asking price is $50,000, representing a compelling value for a property in a revitalizing area. The owner is also open to exploring rental options, providing additional flexibility for potential occupants. This is an exceptional chance to establish a business in a thriving community with minimal regulatory hurdles. Don't miss this opportunity to secure a prime commercial space in a rapidly improving location. Contact us today to schedule a viewing and explore the possibilities.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
APN 05-000-571-05
UPID US28-4555438

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

114 E Market St, Unit Colchester Colchester, IL 62326
Colchester metro Census 11100 MACOMB, IL MICROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

since 2024
2 recorded transactions
2024
Price N/A
2015
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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