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Property profile & analytics
OFF-MARKET
Flex space

611 Margaret St Pekin, IL 61554

Property ID
US28-2568467
Property summary
AI-generated overview

This exceptional 4,280 square foot commercial property at 611 Margaret Street presents a unique opportunity in the heart of the city. The flexible space is ideal for a variety of uses, easily adaptable to single or multi-tenant occupancy. Currently configured as a single-tenant building, it boasts a versatile layout with the potential for diverse configurations. The property includes a significant advantage with up to 17 parking spaces, a rarity in this desirable downtown location. A notable feature is a two-stall attached garage, adding further convenience and security. Privacy is ensured by fencing surrounding a courtyard area, offering ample possibilities for outdoor use. The building's upper level previously housed two apartments, suggesting potential for residential conversion or expansion of existing office space, subject to zoning regulations (OS-1). Recent improvements include a new roof, gutters, and exterior paint completed in 2021, demonstrating the property's well-maintained condition. This is a truly rare find, combining prime downtown location with ample parking and flexible space. The property is zoned OS-1 and has a single building with one suite. The APN is 04-04-35-333-010.

Property profile
Verified
Property type Flex space
UPID US28-2568467
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
  • Jerry B. Witt, DC Alternative Medicine Practice
  • Witt Chiropractic Orthopedic Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
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Owner & transaction history
Owner on record
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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