Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    500 Piper Ln Pittsfield, IL 62363-1907
    Back to Search
    Property profile & analytics

    500 Piper Ln Pittsfield, IL 62363-1907

    View on Map
    • Warehouses
    • 3,200 SF
    • 1.27 lot acres
    Off-Market
    Last Sale Nov 28, 2024
    $120,750
    Property ID
    US28-4398507
    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

    • The Red Barn / Trade Show Venue / (Bike/Boat/Book/etc) Store

    Property Details for 500 Piper Ln

    Year built
    1940
    Lot size
    1.27 lot acres
    Property size
    3,200 SF
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    5304504C
    APU
    5304504C

    Description

    This Pittsfield, IL commercial property, situated on 1.81 acres, is being offered via online auction. The building has undergone significant recent renovations, including a new garage door, updated metal interior, new doors and windows, and new siding on the lower front half. Energy efficiency has been improved with spray foam insulation on the north half of the west wall. Interior updates include new lighting, ceiling fans, electrical wiring, and a new hanging heater. The property also features rustic barn wood wall accents, a spacious stage area, a concrete floor, men's and women's restrooms, and a functional kitchen complete with a serving window. Parking has been expanded with additional gravel. Included in the sale is a 2010 Doolittle 18ft. dual axle cargo trailer (VIN# 1DGCS1829AM089926). Please note that the listed price is not the seller's final reserve amount

    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
    Pittsfield
    County
    Pike
    State
    Illinois
    Longitude
    -90.7994
    Latitude
    39.601

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $581
    $3,540
    $5,440
    $8,980
    -
    $10,631
    $16,336
    $26,967

    Comparable in this City

    • Value Estimation by Request
      4,320 SF

      102 Memorial St

      MINI-WAREHOUSE, STORAGE • 4,320 SF
      102 Memorial St, Pittsfield, IL 62363
      View Details
    • Value Estimation by Request
      3,600 SF

      25823 Us Hwy 54

      MINI-WAREHOUSE, STORAGE • 3,600 SF
      25823 Us Hwy 54, Pittsfield, IL 62363
      View Details
    • Value Estimation by Request
      2,025 SF

      Pittsfield, IL 62363

      MINI-WAREHOUSE, STORAGE • 2,025 SF
      Pittsfield, IL 62363
      View Details
    • Value Estimation by Request
      3,000 SF

      Quincy

      MINI-WAREHOUSE, STORAGE • 3,000 SF
      Quincy, Pittsfield, IL 62363
      View Details
    • Value Estimation by Request
      4,000 SF

      Pittsfield, IL 62363

      MINI-WAREHOUSE, STORAGE • 4,000 SF
      Pittsfield, IL 62363
      View Details
    • Value Estimation by Request
      1,540 SF

      Pittsfield, IL 62363

      STORAGE YARD, OPEN STORAGE • 1,540 SF
      Pittsfield, IL 62363
      View Details

    Similar Nearby for Sale

    • $859,775
      98.26 Acres

      Secluded Pike County Whitetail Farm

      98.26± acre managed whitetail farm with income.
      000 375Th St, New Salem, IL 62363
      View Details
    • New
      $145,000
      4.22 Acres

      Pike County Land with Improvements

      4.22 acre homesite near Pittsfield with existing infrastructure.
      20340 County Highway 11, Pittsfield, IL 62363
      View Details
    • Contact for pricing
      0.19 Acres

      Vacant Land Near King Park

      Vacant lot zoned for light industrial use for sale.
      106 E Benson St, Pittsfield, IL 62363
      View Details
    • Contact for pricing
      0.25 Acres

      Corner Lot in Pittsfield, Illinois

      Large corner lot with city utilities and building opportunities.
      391 W Meadow St, Pittsfield, IL 62363
      View Details
    • New
      $38,000
      1.21 Acres

      Spacious Lots in Panther Creek

      Two lots totaling 1.21 acres near Pine Lakes.
      22 Panther Creek Dr, Pittsfield, IL 62363
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    500 Piper Ln
    Pittsfield, IL 62363-1907
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    500 Piper Ln, Pittsfield, IL, 62363
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!