Property profile

127 Cherry St Galesburg, IL 61401

OFF-MARKET
Commercial real estate
Property ID
US28-2852160
Entity Owned ~ Est. High Equity
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Property summary

AI-generated overview

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.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
APN 99-10-478-006
UPID US28-2852160

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • Alternative Medicine Practice Spa & Massage Center
  • Hair Salon

Location

127 Cherry St Galesburg, IL 61401-4521
Galesburg metro Census 800 GALESBURG, IL MICROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

since 2025
Last sale
$47,000
7 recorded transactions
2025
$47,000
2019
$55,000
2019
Price N/A
2014
$55,000
2007
Price N/A
2006
$35,000
1969
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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