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    Property profile & analytics
    FOR SALE
    Commercial real estate

    237 S Locust St, Centralia, IL 62801

    Entity Owned 1-yr Hold Free & Clear
    Property ID
    US28-4762453
    Property summary
    AI-generated overview

    This exceptional six-unit office building presents a compelling investment opportunity in the heart of Centralia, Illinois. Situated on a corner lot directly across from the Centralia Area Historical Society Museum, this 6,400 square foot property enjoys high visibility and excellent accessibility. Currently, two of the six units are occupied by tenants, providing immediate rental income. The building's central location offers easy access to local amenities, businesses, and the city's vibrant downtown area. This makes it an ideal investment for those seeking a stable income stream or a location for their own business. The property's size and layout offer flexibility for a variety of uses, allowing for potential expansion or adaptation to meet evolving market demands. The building's prime location and existing tenancy make it a particularly attractive proposition for investors seeking a strong return on investment. This is a rare opportunity to acquire a well-situated commercial property in a thriving downtown area. The building's solid construction and desirable location ensure long-term value and potential for appreciation. Serious inquiries are encouraged to explore this promising investment opportunity further. The property is offered at $220,000.

    Property profile
    Verified
    Property type Commercial real estate
    Use group COMMERCIAL (GENERAL)
    APN 1400052835
    UPID US28-4762453
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    by Request
    Owner & transaction history
    Ramey Property Management LLC · 1 yrs held
    Ramey Property Management LLC
    since 2025
    Last sale
    $160,000
    3 recorded transactions
    2025
    $160,000
    2024
    $85,000
    2013
    $110,000
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Try Rey
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    “Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
    More about this property
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