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Property profile & analytics
OFF-MARKET
Estimated value
$1,980,000
Commercial real estate
2501 Broadway Ave, Salem, IL 62881-3677
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US28-4778305
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Lot
3.65 ac (158,994 SF)
APN
1114000090
UPID
US28-4778305
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
Current use
Occupant on record · Public records
-
C & C Laundry Drop-Off Service (Bike/Boat/Book/etc) Store
-
Ken’s New & Used Appliances Home Appliance Store Hardware & Home Improvement
-
Southern Gardens Mobile Home Park Campground & RV Park
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.98M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.98M
Owner & transaction history
Southern Gardens Park Oc LLC · 1 yrs held
Southern Gardens Park Oc LLC
since 2024
Last sale
$2.0M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salem submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,980,000
ML approach
$1,980,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.98M
Range $1.78M – $2.18M · ±10% · vs last sale $1.98M (Nov 21 2024)
Last sale anchor
$1.98M
Nov 21 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$7,381
Tax year 2022
Assessed value
$86,430
Assessed 2022
Previous assessed
$86,430
+0.0% YoY
Effective rate
8.54%
On assessed value
Assessed land
$20,570
Assessed improvement
$65,860
Land market value
$61,710
Improvement market value
$197,580
Total market value
$259,290
Applied tax rate
11,001.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Lot
3.65 ac (158,994 SF)
APN
1114000090
UPID
US28-4778305
Jurisdiction
MARION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Lot
3.65 ac
Current owner
From public records · entity-resolved
Southern Gardens Park Oc LLC
Entity
Mailing address
200 N WOOD RIV AVE, WOOD RIVER, IL 62095-1941
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 21, 2024
$1,980,000
Southern Gardens Park Oc LLC
Southern Gardens Park LLC
Warranty Deed
$82,500,000 · First Mid Bank & Trust NA
Apr 5, 2022
$675,000
Southern Gardens Park LLC
Marco Investment Group LLC
Special Warranty Deed
$1,152,000 · First Mid Illinois Bk & Tr NA
Mar 1, 2018
—
Marco Investment Group LLC
Marco Investments
Deed
—
Feb 9, 2018
—
Marco Investment Group
—
Deed
related
$560,000 · Fcb Banks
Dec 26, 2008
$300,000
Marco Investments
Lawrence E Schaltenbrand JR
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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