1500 Walnut StJacksonville, IL 62650

Property Details for 1500 Walnut St

Lot size

1.99 AC

Property type

Commercial real estate

APN

09-18-200-002

APU

918200002

Description

This exceptional 18,000 square foot commercial property, located at 1500 W Walnut Street in Jacksonville, Illinois, presents a unique investment opportunity. Previously operated as a nursing home, the building has undergone renovations and is ideally suited for immediate re-opening as a senior care facility. Its prime northwest Jacksonville location offers significant advantages, situated adjacent to a hospital and surrounded by a mix of office, retail, and residential areas, ensuring high visibility and convenient access for residents and staff. The property sits on a generous two-acre lot, providing ample space for potential expansion to meet future needs or accommodate additional services. Abundant parking is available on-site, addressing the parking requirements of both residents and visitors. The building's recent updates make it move-in ready, minimizing the time and expense associated with renovations, allowing for a swift return on investment. This turnkey opportunity combines a desirable location, substantial square footage, and the potential for significant growth within a thriving community. The property's existing infrastructure and convenient location make it an attractive proposition for investors seeking a high-return investment in the senior care sector. The two-acre lot offers significant potential for future development and expansion, catering to the evolving needs of the senior care market. This is a rare opportunity to acquire a well-located, updated facility ready for immediate occupancy.

• CAP approach

  CAP return

  Valuation

  6%

  $26,283,800

  6.5%

  $24,261,900

  7%

  $22,528,900

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,757,880

  Geo Method

  $6,757,880

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $48,132,900

  Retail / Commercial

  $24,610,500

  Mixed-Use / Specialty

  $24,466,200

  Hospitality / Lodging

  $17,876,400

  Office

  $24,261,900

  Institutional / Educational

  $25,414,800

  Residential Income

  $29,735,300

  Multifamily

  $35,976,500

  Automotive / Energy

  $21,784,100

  Parking / Income-Based Land

  $7,573,310

  Restaurant / Food Service

  $12,604,300

  Healthcare / Senior Housing

  $25,147,600

Location Insight

City

Jacksonville

County

Morgan

State

Illinois

Latitude

39.746

Longitude

-90.2572

CBSA code

27300

CBSA name

JACKSONVILLE, IL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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