Add Listing
    For Sale
    • 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

    1908 State St Granite City, IL 62040

    View on Map
    Sponsored
    For Sale
    $190,000

    Unimproved Land - Granite City, IL

    Type:Unimproved Land
    Property size:
    17,691 SF
    Lot size:
    0.29 Acres
    Days on Market:
    3
    Last Refresh:
    Mar 5 at 6:06 pm

    Property Features for 1908 State St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    22-2-19-24-12-202-003
    Parking features
    Open, Parking Lot
    Size
    17,691 SF
    Lot size
    0.29 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    1940
    Building materials
    Brick
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Jim Reppell
    Jim Reppell

    RE/MAX Alliance (618) 975-6043

    Listing agent Jim Reppell (618) 656-2111 License #475125734

    Listing date Mar 3, 2026

    MLS# 23073462 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

    Granite City Multi-Use Facility

    This property presents an opportunity for a multi-use facility located in downtown Granite City, Illinois, near Granite City Steel and Gateway Regional. Currently, the main level is owner-occupied by "Tank Training," a gym. The property includes ample parking in the rear. A rubber modified roof was installed in 2019. An existing elevator, fully operational 10 years ago, has the potential to be operational again. The seller is willing to sell all gym equipment for half price with an acceptable offer on the building. The property is located in a downtown area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Fitness centers & gyms

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    Nelson Hagnauer Sports Complex, William Red Schmitt Wrestling Center, Granite City High School Memorial Gymnasium, Granite City Park Pool

    Location Insight

    • Map
    • Local Demand
    City
    Granite City
    County
    Madison
    State
    Illinois
    Longitude
    -90.149095
    Latitude
    38.699809

    Nearby Similar for Sale

    • New
      $190,000
      0.79 Acres

      Granite City Commercial Property For Sale

      High-visibility commercial property with large parking lot and service bays.
      2805 E 23Rd St, Granite City, IL 62040
      View Details
    • $500,000
      6,950 SF

      Granite City Commercial Building

      Well-maintained building suitable for various community or educational purposes.
      1313 21St St, Granite City, IL 62040
      View Details
    • $55,000
      0.12 Acres

      Granite City Commercial Building For Sale

      Commercial building on corner lot, previously used as beauty salon.
      2775 Madison Ave, Granite City, IL 62040
      View Details
    • $220,000
      2,624 SF

      Granite City Commercial Office Building

      Commercial office building in Granite City, 15 minutes from St. Louis.
      2412 Corporate Ctr, Granite City, IL 62040
      View Details
    • $69,900
      1,264 SF

      Granite City Commercial Building

      Well-maintained commercial building in Granite City, Illinois for sale.
      2301 State St, Granite City, IL 62040
      View Details
    • $675,000
      4,950 SF

      Granite City Multifamily Investment Opportunity

      Two fully occupied four-unit buildings in Granite City, Illinois.
      1 Georgetown Dr, Granite City, IL 62040
      View Details
    • New
      $110,000
      2,086 SF

      Granite City Income-Producing Duplex

      Income-producing duplex in Granite City with month-to-month leases.
      2824 E 24Th St, Granite City, IL 62040
      View Details
    • $139,900
      0.46 Acres

      Granite City Commercial Property

      Commercial property on high-traffic road with multiple office spaces.
      2335 Pontoon Rd, Granite City, IL 62040
      View Details
    • $675,000
      0.42 Acres

      Granite City Multifamily Investment Opportunity

      Two fully occupied, well-maintained 4-unit buildings in high-demand rental area.
      1 Georgetown Dr, Granite City, IL 62040
      View Details
    • $120,000
      1,565 SF

      Granite City Triplex Opportunity

      Triplex in central Granite City with income potential.
      2108 Washington Ave, Granite City, IL 62040
      View Details
    • New
      $145,000
      Pending

      Remodeled Duplex with Steady Income

      Well-maintained duplex in Granite City with long-term tenants.
      24 Eastgate Dr, Granite City, IL 62040
      View Details
    • New
      $95,000
      1,761 SF

      Granite City Income Property

      Income-producing duplex with tenants in place in Granite City.
      2713 Ralph St, Granite City, IL 62040
      View Details

    FAQs

    What type of property is this?
    Fitness center & gym - Multi-use facility in downtown Granite City with ample parking.
    Where is this fitness center & gym located?
    The property is located at 1908 State St Granite City, IL.
    What is the asking price?
    The asking price for this property is $190,000.
    What are key features of this property?
    This property features: - Multi-use facility in downtown Granite City, offering versatile potential.; - Close proximity to Granite City Steel & Gateway Regional.; - Ample parking available in the rear of the building.
    (618) 791-7663
    Request Owner's contact information
    1908 State St Granite City, IL 62040
    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.
    1908 State St
    Granite City, IL 62040
    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
    1908 State St Granite City, IL 62040
    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
    Jim Reppell
    Jim Reppell
    Real Estate License ID: 475125734
    (618) 791-7663 (618) 656-2111 (618) 345-2111
    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!