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    600 Main St Sparta, IL 62286
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    600 Main St Sparta, IL 62286

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    • Commercial real estate
    • 0.41 lot acres
    For Sale
    $49,500
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    Sparta Commercial Property - Huge Potential For Sale
    $49,500

    Sparta Commercial Property - Huge Potential

    Spacious corner lot building, 1452 sq ft, $49,500

    600 Main St, Sparta, IL 62286
    View Listing
    Property ID
    US28-3655999
    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

    • Sparta Church of the Nazarene / Church

    Property Details for 600 Main St

    Lot size
    0.41 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 1452-square-foot commercial property, situated on a prominent 0.41-acre corner lot in Sparta, Illinois, presents a remarkable opportunity for a variety of uses. Currently configured as a church, the building boasts a spacious entrance hallway, separate men's and women's restrooms, a sizable open reception/meeting area, a functional kitchen, ample storage rooms, and a small office space. The main sanctuary area is generously sized and adaptable to various needs. The exterior features a striking rock façade, enhancing its curb appeal. The property benefits from two functioning gas furnaces (one in the front and one in the rear) ensuring efficient heating. The front entrance features a newly replaced metal roof, while the remainder of the roof is approximately 10 years old. This property is priced affordably at $49,500, offering significant potential for a relatively low investment. Its versatile layout and central location make it ideal for a range of businesses, including but not limited to, a childcare facility, service-oriented businesses, or even a continued use as a place of worship. With a little tender loving care, this property can be transformed into a thriving enterprise. The ample space and convenient location make this a truly compelling opportunity. Don't miss out on this chance to acquire a substantial property at an exceptional price.

    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
    Sparta
    County
    Randolph-IL
    State
    Illinois
    Longitude
    -89.69427
    Latitude
    38.12508

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      Historical Church on Route 4

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    Similar Nearby for Sale

    • $140,000
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      View Details
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      0.39 Acres

      Lake View Wooded Land

      Wooded land near Sparta, Illinois, with lake view.
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      0.15 Acres

      Residential Land in Sparta, IL

      Residential land available in Sparta, Illinois.
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    • $250,000
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      Commercial Lot in Sparta Square

      Commercial land for sale in Sparta, Illinois, near retailers.
      1302 N Market St N, Sparta, IL 62286
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    • $250,000
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      Historical Church on Route 4

      Well-kept church with sanctuary, fellowship hall, and updated amenities.
      401 N Vine St, Sparta, IL 62286
      View Details
    • $450,000
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      Commercial Property on Route 4

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      259 N Market St, Sparta, IL 62286
      View Details
    View Listing
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    Sparta, IL 62286
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    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
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