Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1401 Central Ave Alton, IL 62002

    Sponsored
    For Lease
    $700 /Mo ($6 SF/Yr)

    Commercial Lease - Alton, IL

    Property size:
    1,247 SF
    Lot size:
    0.35 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 4 at 9:06 pm

    Property Features for 1401 Central Ave

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    APN
    23-2-07-12-10-104-030
    Exterior features
    Fencing
    Fencing
    Fenced
    Size
    1,247 SF
    Lot size
    0.35 Acres

    Utilities

    Heating system
    Electric (Heating), Forced Air, Natural Gas
    Cooling system
    Multi Units, Wall Unit(s)

    Building Details

    Year built
    1960
    Building materials
    Brick, Stone
    Architectural style
    Other

    We can help!

    Listing Contact
    Marcia Parks

    Haywood Hoosman Realty (314) 787-9192

    Listing agent Marcia Parks (314) 787-9192 License #2014013896

    Listing date Mar 3, 2026

    MLS# 26010751 Listing URL

    Copyright © 2026 MARIS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Commercial Space in Alton, IL

    This commercial space, located in Alton, Illinois, offers 1247 square feet of space on a 0.349-acre lot. The property benefits from a corner location and high traffic count. The intended use of the property is for commercial purposes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Alton
    County
    Madison
    State
    Illinois
    Longitude
    -90.170394
    Latitude
    38.900797

    Nearby Similar for Lease

    • $665 /Mo
      500 SF

      Office Space in Honke Building

      500 SF office space available for lease in Alton.
      307 Henry St, Alton, IL 62002
      View Details
    • $13 SF/Yr
      21,265 SF

      Visible Retail/Office Space on Highway

      Retail or office space with high visibility and ADA accessibility.
      94 Northport Dr, Alton, IL 62002
      View Details
    • $13 SF/Yr
      21,625 SF

      Prime Corner Retail Space Available

      Corner retail space with high visibility and flexible use options.
      92 Northport Dr, Alton, IL 62002
      View Details
    • $13 SF/Yr
      21,625 SF

      Alton Retail Space with Visibility

      Retail space with high visibility and flexible usage options.
      96 Northport Dr, Alton, IL 62002
      View Details
    • $13 SF/Yr
      21,625 SF

      Alton Retail Space For Lease

      Retail space with high visibility and flexible usage options available.
      90 Northport Dr, Alton, IL 62002
      View Details
    • $700 /Mo
      30,980 SF

      Alton Office Space for Lease

      Office space available in full-service building with parking.
      307 Henry St, Alton, IL 62002
      View Details
    • $12 SF/Yr
      133,154 SF

      Versatile Industrial Space in Godfrey

      Industrial property with office and shop space for lease.
      4436 Industrial Dr, Alton, IL 62002
      View Details
    • $13 SF/Yr

      Alton Office/Retail Space For Rent

      Highly visible office/retail space near Alton Square Mall.
      235 E Center Dr, Alton, IL 62002
      View Details
    • $1,800 /Mo
      1,685 SF

      Visible Retail/Office Center For Rent

      Retail/office space with easy access and ample parking available for rent.
      2600 State St, Alton, IL 62002
      View Details
    • $10 SF/Yr
      14,973 SF

      Alton Retail Space For Lease

      14,973 SF retail space available with dock high loading.
      2980-3000 Homer M Adams Pkwy, Alton, IL 62002
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space on Homer Adams

      Retail space available on Homer Adams Parkway with pylon signage.
      1837 Homer M Adams Pkwy, Alton, IL 62002
      View Details
    • Contact for pricing
      5,088 SF

      Retail Space with Basement Storage

      Retail space available with significant basement storage.
      2850 Homer Adams Pkwy, Alton, IL
      View Details

    FAQs

    What type of property is this?
    Specialty property - Commercial space for lease in Alton, Illinois.
    Where is this specialty property located?
    The property is located at 1401 Central Ave Alton, IL.
    What is the lease rate?
    The lease rate is $6 SF/Yr.
    What are key features of this property?
    This property features: - Brick and Stone Construction; - Prime Corner Location; - Fenced Property
    (314) 580-6675
    Request Owner's contact information
    1401 Central Ave Alton, IL 62002
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1401 Central Ave
    Alton, IL 62002
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1401 Central Ave Alton, IL 62002
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Marcia Parks
    Real Estate License ID: 2014013896
    (314) 580-6675 (314) 787-9192
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!