127 Cherry St, Galesburg, IL 61401-4521
This 986 sq ft, one-story commercial building in Galesburg, IL, is ideally located on a corner lot at 127 N Cherry Street, providing excellent street visibility and accessibility. The property features eight dedicated parking spaces, supplemented by ample street parking. Inside, a welcoming reception area leads to a spacious corner office with a half-bathroom, a functional conference room, and a versatile back office suitable for additional workspace or storage. A kitchenette and washer/dryer hookups add to the building's convenience. Currently leased to tenants who desire to extend their lease through March 2025, this presents a strong income-producing opportunity. The B-3 zoning allows for a variety of uses, including but not limited to: auto rental shop, tobacco store, coffee house, craft/hobby shop, flower shop, or professional office space. A comprehensive list of permitted businesses under this zoning is available upon request. This prime downtown location offers significant potential for a variety of commercial ventures. The asking price is $79,900.
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The Hair Affair Salon and spa Hair Salon
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
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.