Four-Unit Mixed-Use
For Sale
$390,000
108-110 E Main Street, Mascoutah, IL 62258
Residential Income, Mascoutah, IL
Property Size3,838 SF
Lot Size0.07 Acres
Price / SF$101.62
Days on Market78
Property Features for 108-110 E Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 1, Basement
Window features
Double Pane Windows
Interior features
High Ceilings, Storage
Basement
Storage Space, Sump Pump
Subdivision
not in a subdivision or complex
Elementary school
MASCOUTAH DIST 19
Middle school
MASCOUTAH DIST 19
High school
Mascoutah
Elementary school district
Mascoutah DIST 19
Middle school district
Mascoutah DIST 19
High school district
Mascoutah DIST 19
Standard status
Active
APN
10-32.0-145-004
Size
3,838 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
8069
Utilities
Utilities
Cable Available
Heating system
Forced Air, Natural Gas, Radiant
Cooling system
Central Air, Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1950
Floors in Building
2
Number of units
4
Flooring type
Wood, Vinyl, Carpet
Building materials
Brick, Plaster
Roof type
Asphalt
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Strano & Associates
(618) 277-7653
Listed By:
Michaela Patterson · License #475.198801
(618) 795-4701
Added: Jul 11
Changed: Sep 26
Last Checked: Sep 26 at 7:06PM
MLS# 25059710
Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The 3,838-square-foot mixed-use building at 108-110 E Main Street contains four units: two commercial spaces and two residential apartments. One upstairs apartment is vacant and identified as a two-bedroom unit requiring renovation, while the remaining commercial and residential units are occupied. The property includes high ceilings, storage, brick and plaster construction, and an updated storefront. Interior finishes include carpet, vinyl, and wood flooring. Heating is provided by forced air, radiant, and natural gas systems, with central and window-based cooling. Built in 1950, the property sits on 0.07 acres in downtown Mascoutah. Public water and cable availability are listed, and the location provides proximity to Scott Air Force Base. The property combines retail or commercial space with residential occupancy in a compact downtown setting.
Key Highlights
- Four‑unit configuration with two commercial spaces and two residential apartments
- 3,838 square feet on a 0.07‑acre parcel
- Vacant upstairs two‑bedroom apartment identified for renovation
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,651
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$633,020
$633.0K
Cap Rate 7%
$452,157
$452.2K
Cap Rate 9%
$351,678
$351.7K
Market Conditions
NOI Build-Up for 3,838 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$48.4K $12.60/SF
− Vacancy
−$3.1K −$0.82/SF
EGI
$45.2K $11.78/SF
− OpEx
−$13.6K −$3.53/SF
NOI
$31.7K $8.25/SF
Area
St. Clair County, IL
Vacancy
6.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$633,020
Cap Rate 7%
$452,157
Cap Rate 9%
$351,678
Alternative Uses
Best Use
Mixed Use
$555.1K
$485.8K – $647.7K
NOI $38,860 @ 7.0% cap · market cap 9.96%
Second Best
Retail
$547.8K
$479.4K – $639.2K
NOI $38,349 @ 7.0% cap · market cap 9.83%
Theoretical Best
Office A
$908.6K
$795.0K – $1.06M
NOI $63,601 @ 7.0% cap · market cap 16.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
292
Businesses Nearby
Explore this area
Business Placement
Demographics for 62258, IL
10,379
Population
3,908
Households
2.7
Avg Household Size
38
Median Age
27%
College-Educated
95%
High-School Grad
75.4 sq mi
ZIP Area
138
Density / Sq Mi
$90,417
Median Household Income
$46,395
Median Earnings
$1,231
Median Rent
$229,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown building combines commercial storefronts with residential apartments and an unfinished upstairs unit.
Where is this mixed-use property located?
The property is located at 108-110 E Main Street Mascoutah, IL.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Four‑unit configuration with two commercial spaces and two residential apartments; 3,838 square feet on a 0.07‑acre parcel; Vacant upstairs two‑bedroom apartment identified for renovation
