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    1031 FRANKLIN Street Carlyle, IL 62231

    View on Map
    For Sale
    $169,900

    COMMERCIAL - Carlyle, IL

    Added:
    Sep 30, 2025
    Days on Market:
    184
    Last Refresh:
    Apr 1 at 1:06 pm

    Property Features for 1031 FRANKLIN Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    B-1
    Standard status
    Active
    APN
    08-08-18-325-007

    Taxes and HOA fees

    TaxYear
    2024
    TaxDescription
    Subdivision MIDDLE CARLYLE Block 42 Lot 2
    TaxAnnualAmount
    1727

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Floors in Building
    2
    Building materials
    Vinyl Siding, Frame
    Roof type
    Composition

    We can help!

    Listing Contact
    Emily Toennies

    Listing agent Emily Toennies License #475199310

    Listing office Rod Snow, INC. 1519 E. MCCORD, Centralia, IL

    Listing date Sep 30, 2025

    MLS# EB459937

    Copyright © 2025 RMLS Alliance. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Downtown Carlyle Multi-Use Property

    This multi-use property is located on a high-traffic street in downtown Carlyle. Currently operating as an insurance office, the space is suited for professional use, but its layout offers a range of possibilities. The main office area was completely finished from the frame up in 2022, featuring modern updates and a professional layout. An unfinished section at the front of the building could be converted into additional office space or finished as an apartment. Upstairs, a separate 1 bedroom apartment with its own private entrance is ready for occupancy. The building could accommodate up to 3 total apartments, making it a strong investment opportunity. Exterior updates include a new roof, replacement windows, new siding and a large newly paved concrete parking lot with ample space for tenants or clients. The property offers flexibility and value in a prime location. The zoning is B-1.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Carlyle
    County
    Clinton
    State
    Illinois
    Longitude
    -89.370462
    Latitude
    38.610464

    Nearby Similar for Sale

    • $170,000

      Victorian Office Building Near Courthouse

      Charming Victorian office building in Carlyle's central business district.
      1010 Franklin Street, Carlyle, IL 62231
      View Details
    • $210,000
      3,228 SF

      Mixed-Use Property in Downtown Carlyle

      Two-story mixed-use property with bar/grill and updated apartment.
      1031 Fairfax Street, Carlyle, IL 62231
      View Details
    • $799,700

      Carlyle Retail Property For Sale

      Commercial B-2 zoned retail property in high traffic area.
      1110 FRANKLIN Street unit: 1150, Carlyle, IL 62231
      View Details
    • $1,071,000
      2,550 SF

      Retail Space in Carlyle, Illinois

      Retail space available in Carlyle, Illinois, near Carlyle Lake.
      567 12th St, Carlyle, IL 62231
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Versatile property with office space and apartment potential.
    Where is this mixed-use property located?
    The property is located at 1031 FRANKLIN Street Carlyle, IL.
    What is the asking price?
    The asking price for this property is $169,900.
    What are key features of this property?
    This property features: Prime downtown location on a high‑traffic street; Multi‑use property suitable for office space, apartments, or a combination; Recently renovated main office area (finished in 2022)
    (618) 339-4831
    We can help!
    Listing Contact
    Emily Toennies
    Real Estate License ID: 475199310
    Learn More
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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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