221 Park Ave, Herrin, IL 62948
This exceptional 10,000 square foot, two-story commercial building presents a remarkable investment opportunity in the heart of Herrin, Illinois. Situated on a corner lot along a major downtown thoroughfare at 221 N Park Avenue, this property boasts significant income-generating potential. The main floor is currently divided into two separate retail/office spaces, generating an approximate annual income of $20,000. This established rental stream provides immediate return on investment. The expansive second floor offers versatile space ideal for a variety of uses. Imagine hosting banquets or meetings in the large open area, or converting a portion into additional office space or even residential accommodations. The possibilities are numerous, allowing for creative adaptation to meet evolving market demands. The building's prime location in the bustling downtown area ensures high visibility and accessibility, attracting a steady stream of potential customers and tenants. This property is a rare find, combining established income with significant upside potential for future growth and expansion. Don't miss this chance to acquire a valuable asset in a thriving community. The asking price is $250,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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.