Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    1529 Spruce St Murphysboro, IL 62966

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1529 Spruce St Murphysboro, IL 62966

    View on Map
    • Investment properties
    • 0.14 lot acres
    Off-Market
    Last Sale Jan 5, 2024
    Property ID
    US28-3052036
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Investment properties

    Property Details for 1529 Spruce St

    Lot size
    0.14 lot acres
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    14-04-357-009
    APU
    1404357009

    Description

    This exceptional eight-unit apartment building, located at 1529 Spruce Street in Murphysboro, Illinois, presents a compelling investment opportunity. Boasting a total of 5,500 square feet, this property offers a solid return at an asking price of $375,000 ($68.18 per square foot). Constructed in 1973, the building has undergone recent improvements to enhance both its aesthetic appeal and functionality. These upgrades include a completely refurbished exterior electrical breaker box for Unit 3, ensuring reliable power. For added security, all exterior doors and locks have been replaced with brand-new units. Furthermore, updated gutters provide improved drainage, protecting the building's structure. The property's curb appeal has been significantly enhanced with the removal of old landscaping. The building includes eight parking spaces, providing convenient parking for residents. The property's address is 1529 Spruce St, Murphysboro, IL 62966, and its Assessor's Parcel Number (APN) is 14-04-357-009. This well-maintained multifamily property is ideal for investors seeking a turnkey operation with modern updates and strong rental potential in a stable market. The property's location in Jackson County, Illinois offers easy access to local amenities and services.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Murphysboro
    County
    Jackson
    State
    Illinois
    Longitude
    -89.3405
    Latitude
    37.7636
    CBSA code
    16060
    CBSA name
    CARBONDALE-MARION, IL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $7,452
    $8,002
    $57,855
    $65,857
    -
    $24,006
    $173,565
    $197,571

    Comparable in this City

    • Value Estimation by Request
      16.00 Acres

      61 Bruce Ln

      OFFICE/RESIDENTIAL (MIXED USE) • 16.00 Acres
      61 Bruce Ln, Murphysboro, IL 62966-5611
      View Details
    • Value Estimation by Request
      0.13 Acres

      200 15th St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.13 Acres
      200 15th St, Murphysboro, IL 62966-2059
      View Details
    • Value Estimation by Request
      0.09 Acres

      1519 Grace St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.09 Acres
      1519 Grace St, Murphysboro, IL 62966-1849
      View Details
    • Value Estimation by Request
      0.26 Acres

      1402 Manning St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.26 Acres
      1402 Manning St, Murphysboro, IL 62966-2072
      View Details
    • Value Estimation by Request
      7.92 Acres

      111 Devan Dr

      OFFICE/RESIDENTIAL (MIXED USE) • 7.92 Acres
      111 Devan Dr, Murphysboro, IL 62966-4777
      View Details
    • Value Estimation by Request

      900 Walnut St

      OFFICE/RESIDENTIAL (MIXED USE)
      900 Walnut St, Murphysboro, IL 62966-2162
      View Details

    Similar Nearby for Sale

    • New
      $650,000
      0.18 Acres

      Historic Murphysboro Event Center

      Historic building in downtown Murphysboro, home to Rosie's Gaming.
      1329 Walnut St, Murphysboro, IL 62966
      View Details
    • $900,000
      15.89 Acres

      Murphysboro Commercial Land - 15 Acres

      High-visibility commercial land, prime Murphysboro location.
      Birkner Ln, Murphysboro, IL 62966
      View Details
    • Contact for pricing
      1,701 SF

      Versatile Commercial Space in Murphysboro

      Adaptable commercial property suitable for various business or educational purposes.
      507 N 9Th St, Murphysboro, IL 62966
      View Details
    • $925,000
      0.63 Acres

      Mobile Home Park with Expansion

      Income-producing mobile home park with expansion potential on 8.8 acres.
      111 Devan Dr, Murphysboro, IL 62966
      View Details
    • $1,190,000

      Murphysboro Multifamily Investment Opportunity

      Multifamily property for sale in Murphysboro, Illinois.
      153 Youngman Rd, Murphysboro, IL 62966
      View Details
    • Contact for pricing

      Updated Fourplex Investment Opportunity

      Four-unit property with recent updates in a rural setting.
      1457 W Lake Rd, Murphysboro, IL 62966
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1529 Spruce St
    Murphysboro, IL 62966
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    1529 Spruce St, Murphysboro, IL, 62966

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!