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    1905 Logan Ave Belvidere, IL 61008
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    Property profile & analytics

    1905 Logan Ave Belvidere, IL 61008

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    • Commercial real estate
    • 0.99 lot acres
    Off-Market
    Property ID
    US28-3547911
    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

    • Commercial real estate

    Property Details for 1905 Logan Ave

    Lot size
    0.99 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional commercial development opportunity presents multiple land sites ranging from 0.99 to 3 acres, ideally located at 1905 Logan Ave in Belvidere, Illinois, zip code 61008. The property is zoned Belvidere PB and boasts a prime location just east of Belvidere Road (Business 20), ensuring high visibility and accessibility. This strategic position places the land within close proximity to a thriving retail corridor, surrounded by established businesses such as Blain's Farm & Fleet, Walmart, Applebee's, Subway, Starbucks, Aaron's, Midland States Bank, Verizon, and OSF Healthcare. The area also benefits from a strong residential population, providing a substantial customer base for any new development. The land offers significant potential for a variety of commercial uses, capitalizing on the high traffic volume and established commercial presence. Low Boone County taxes further enhance the investment appeal. The sales price ranges from $8.50 to $13.50 per square foot, presenting a compelling opportunity for developers seeking a prime location in a rapidly growing market. This is a rare chance to acquire land in a highly desirable area with excellent potential for significant return on investment. The property's location and surrounding amenities make it an ideal site for a variety of commercial ventures.

    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
    Belvidere
    County
    Boone
    State
    Illinois
    Longitude
    -88.82075
    Latitude
    42.251641

    Comparable in this City

    • $137,000
      2.46 Acres

      Residential Land in Desirable Neighborhood

      Generously sized lots ready for your dream build in Belvidere.
      5502 River Run Pkwy, Belvidere, IL 61008
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    • $1,100,000
      60.00 Acres

      60 Acres Prime Agricultural Land

      Prime agricultural land near Belvidere, suitable for farming or development.
      9202 Town Hall Rd, Belvidere, IL 61008
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      LandMark Logistics Park Industrial Lot

      Shovel-ready industrial lot in Belvidere, Illinois, for sale.
      5 Landmark Logistics Park, Belvidere, IL 61008
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      Commercial Land in Prime Location

      2.08 acres of commercial land in Belvidere, Illinois.
      1601 Belvidere Rd, Belvidere, IL 61008
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    • Contact for pricing

      Land Near I-90, Belvidere, IL

      Land available near I-90 and Irene Road in Belvidere, IL.
      I-90 & Irene Rd, Belvidere, IL 61008
      View Details
    • $850,000

      Redevelopment Opportunity in Belvidere, IL

      84-room hotel redevelopment opportunity with car wash and motel.
      1345 North State St, Belvidere, IL 61008
      View Details

    Similar Nearby for Sale

    • $137,000
      2.46 Acres

      Residential Land in Desirable Neighborhood

      Generously sized lots ready for your dream build in Belvidere.
      5502 River Run Pkwy, Belvidere, IL 61008
      View Details
    • $1,100,000
      60.00 Acres

      60 Acres Prime Agricultural Land

      Prime agricultural land near Belvidere, suitable for farming or development.
      9202 Town Hall Rd, Belvidere, IL 61008
      View Details
    • Contact for pricing

      LandMark Logistics Park Industrial Lot

      Shovel-ready industrial lot in Belvidere, Illinois, for sale.
      5 Landmark Logistics Park, Belvidere, IL 61008
      View Details
    • Contact for pricing

      Commercial Land in Prime Location

      2.08 acres of commercial land in Belvidere, Illinois.
      1601 Belvidere Rd, Belvidere, IL 61008
      View Details
    • Contact for pricing

      Land Near I-90, Belvidere, IL

      Land available near I-90 and Irene Road in Belvidere, IL.
      I-90 & Irene Rd, Belvidere, IL 61008
      View Details
    • $850,000

      Redevelopment Opportunity in Belvidere, IL

      84-room hotel redevelopment opportunity with car wash and motel.
      1345 North State St, Belvidere, IL 61008
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      High-Visibility Retail Space Available

      Retail space in high-traffic area near major employers.
      1766 S State St, Belvidere, IL 61008
      View Details
    • Contact for pricing

      Retail/Restaurant Space For Lease

      Retail or restaurant space available for lease.
      2294 Gateway Center Dr, Belvidere, IL 61008
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    • Contact for pricing

      Belvidere Land Ready For Development

      Land with great visibility, ready for immediate construction and development.
      Belvidere, IL 61008
      View Details
    • Contact for pricing

      Retail Space on Belvidere Corridor

      Prime corner retail location on Belvidere's retail corridor.
      112 S State St, Belvidere, IL 61008
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space Near Walmart

      1,800 SF retail space in Belvidere, Illinois.
      2294 Gateway Center Dr, Belvidere, IL 61008
      View Details
    • Contact for pricing
      25,310 SF

      Retail Space in Belvidere Center

      25,310 SF retail space in Belvidere's central business district.
      122-128 S State St, Belvidere, IL 61008
      View Details
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    Belvidere, IL 61008
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    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
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    1905 Logan Ave, Belvidere, IL, 61008
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