3501 Broadway StMount Vernon, IL 62864

Property Details for 3501 Broadway St

Lot size

1.00 AC

Property type

Commercial real estate

APN

06-36-126-004

APU

636126004

Description

This exceptional commercial property, located at 3501 BROADWAY Street in Mt. Vernon, Illinois, 62864, presents a unique investment opportunity. The property, built in 1960, encompasses over 3,300 square feet and sits on a prominent location on one of Mt. Vernon's busiest streets. Previously occupied by WMIX, the building offers a versatile layout suitable for a wide range of businesses. Features include a spacious reception area, a convenient kitchenette, two bathrooms, and multiple offices, providing ample space for various operational needs. The property also benefits from abundant on-site parking, a significant advantage for both employees and clients. Its high visibility on Broadway ensures maximum exposure, placing your business within a thriving commercial district. The asking price for this prime commercial land and building is $675,000. This is an excellent opportunity to establish or expand your business in a high-traffic area with significant potential for growth. The property's size and location make it an ideal choice for businesses seeking a strong presence in the heart of Mt. Vernon.

• CAP approach

  CAP return

  Valuation

  6%

  $11,284,500

  6.5%

  $10,416,400

  7%

  $9,672,410

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,395,940

  Geo Method

  $3,395,940

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $20,464,800

  Retail / Commercial

  $10,502,600

  Mixed-Use / Specialty

  $10,471,800

  Hospitality / Lodging

  $7,691,400

  Office

  $10,416,400

  Institutional / Educational

  $10,888,800

  Residential Income

  $12,739,900

  Multifamily

  $15,243,000

  Automotive / Energy

  $9,333,250

  Parking / Income-Based Land

  $3,214,270

  Restaurant / Food Service

  $5,460,530

  Healthcare / Senior Housing

  $10,731,900

Location Insight

City

Mount Vernon

County

Jefferson

State

Illinois

Latitude

38.3139

Longitude

-88.9361

CBSA code

34500

CBSA name

MOUNT VERNON, IL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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