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Property profile & analytics
OFF-MARKET
Industrial properties
278 Oak St Jacksonville, IL 62650-1319
Individually Owned
8-yr Hold
~
Est. High Equity
Property ID
US28-3753354
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1850
Total area
1,000 SF
Lot
2.25 ac (98,010 SF)
APN
09-16-100-016
UPID
US28-3753354
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
Michael A Merritt · 8 yrs held
Michael A Merritt
since 2017
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 Jacksonville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Jacksonville 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
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
$2,767
Tax year 2022
Assessed value
$29,040
Assessed 2023
Previous assessed
$29,040
+0.0% YoY
Effective rate
9.53%
On assessed value
Assessed land
$5,630
Assessed improvement
$23,410
Land market value
$16,890
Improvement market value
$70,230
Total market value
$87,120
Applied tax rate
12,003.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1850
Total area
1,000 SF
Lot
2.25 ac (98,010 SF)
APN
09-16-100-016
UPID
US28-3753354
Jurisdiction
MORGAN
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
Year built
1850
Lot
2.25 ac
Current owner
From public records · entity-resolved
Michael A Merritt
Individual
Mailing address
412 PO BOX 1481ST DR, JACKSONVILLE, IL 62651-1481
Ownership since
2017
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
Jun 6, 2025
—
Michael A Merritt
—
Deed
related
$150,000 · Prairie State Bank & Trust
Nov 1, 2017
$90,000
Michael A Merritt
Jacksonville Art Glass INC
Warranty Deed
$72,000 · Prairie State Bank & Trust
Nov 21, 2014
—
Jacksonville Art Glass INC
John R Lukeman
Correction Deed
related
$88,800 · The Farmers State Bank And Trust Co
Oct 9, 2014
$111,000
Jacksonville Art Glass INC
John R Lukeman
Warranty Deed
$88,800 · The Farmers State Bank And Trust Co
Apr 26, 2011
$68,000
John R Lukeman
Mary Ann Buster
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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