Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Alton Land with Buildings Title is generated by Realmo AI

    2920 Fosterburg Road, Alton, IL 62002

    View on Map
    Claim this Listing
    For Sale
    $400,000

    Retail - Alton, IL

    Type:Retail
    Property size:
    6,400 SF
    Lot size:
    3.36 Acres
    Price / SF:
    $62/SF
    Added:
    Feb 12, 2026
    Days on Market:
    93
    Last Refresh:
    May 16 at 5:06 pm

    Property Features for 2920 Fosterburg Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Standard status
    Active
    APN
    23-2-08-04-09-101-005
    Size
    6,400 SF
    Lot size
    3.36 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    3049

    Building Details

    Building materials
    Metal Siding
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    David Lauschke
    David Lauschke

    Listing agent David Lauschke License #471000341

    Listing office Coldwell Banker Brown Realtors 117 West 3rd, Edwardsville, IL

    Listing date Feb 12, 2026

    MLS# 24048032 Listing URL

    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.

    HighLights

    • Prime location: Conveniently located just 0.5 miles from I‑255 and IL Rte 140.
    • Development flexibility: Potential for rezoning to commercial, multi‑family, or single‑family.
    • Significant acreage: Approximately 3.46 acres across two parcels.
    • Existing buildings: Includes a 6400sf metal building and a 3200sf metal building, both with concrete floors and electric.
    • Public utilities are available on and near the property.
    • Features 429' of frontage.

    Overview

    This property features two parcels totaling approximately 3.46 acres, situated just 0.5 miles from I-255 and IL Rte 140. Public utilities are available on and near the property. The land offers flexibility for rezoning to commercial, multi-family, or single-family use. It includes 429 feet of frontage. A Phase 1 environmental assessment has been completed with a clean result. Existing structures include a 6400-square-foot metal building and a 3200-square-foot metal building, both with concrete floors and electric service. Additionally, there is a 1344-square-foot modular building that requires repairs. The property is located in an industrial area and presents a range of potential uses. PIN 23-2-08-04-09-101-006 is included in the sale.

    Financial Insights

    Value Estimation Calculated for Warehouse

    Conservative
    $356.8K
    NOI $32,109 @ 9.00% cap · cautious / downside scenario
    Moderate
    $458.7K
    NOI $32,109 @ 7.00% cap · market / base-case scenario
    Aggressive
    $642.2K
    NOI $32,109 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Warehouse

    Component $ $/SF
    Gross rent $38.8k $6.06
    − Vacancy −$1.0k −$0.16
    EGI $37.8k $5.90
    − OpEx −$5.7k −$0.89
    NOI $32.1k $5.02
    6,400 SF · lease $6.06/SF/yr · vacancy 2.60% · expense 15.00%

    Alternative Use Scenarios

    Best Use
    Warehouse
    $458.7K
    $401.4K – $535.2K (±1% cap)
    NOI $32,109 @ 7.0% cap · market cap 8.03%
    Second Best
    Industrial
    $377.8K
    $330.5K – $440.7K (±1% cap)
    NOI $26,443 @ 7.0% cap · market cap 6.61%
    Theoretical Best
    Office A
    $1.74M
    $1.53M – $2.04M (±1% cap)
    NOI $122,112 @ 7.0% cap · market cap 30.53%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Alton Duct Clean ... (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Pharmacy Department Store Storage Facility HVAC Service Bar & Pub Garden Center Discount Store Grocery & Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Alton
    County
    Madison
    State
    Illinois
    Longitude
    -90.115341
    Latitude
    38.916762

    Nearby Similar for Sale

    • $550,000
      7,126 SF

      Retail, Warehouse, and Restaurant Space

      Commercial property featuring retail, warehouse, and restaurant spaces for sale.
      1856 E Broadway, Alton, IL 62002
      View Details
    • $300,000
      7,340 SF

      Former Bank Building on Parkway

      Visible former bank building with drive-thru and ample parking.
      4365 Alby Street, Alton, IL 62002
      View Details
    • $799,000

      Alton Commercial Property on Broadway

      Two buildings in Alton's Tiff District ready for redevelopment.
      528 E Broadway, Alton, IL 62002
      View Details
    • $275,000
      20,000 SF

      Alton Mixed-Use Opportunity

      20,000 SF mixed-use building with many possibilities in Alton.
      720 Henry Street, Alton, IL 62002
      View Details
    • $350,000

      Turnkey Bar with Gaming

      Established bar with gaming in downtown Alton, Illinois.
      314 State Street, Alton, IL 62002
      View Details
    • $525,000
      16,128 SF

      Alton Warehouse/Retail/Industrial Space

      16,128 SF multi-use building in HUBZone.
      2726 E Broadway, Alton, IL 62002
      View Details
    • $589,000
      3,000 SF

      Turnkey Irish Pub in Alton

      Established Irish pub for sale in historic downtown Alton, Illinois.
      200 State Street, Alton, IL 62002
      View Details
    • $200,000
      1,356 SF

      Alton Retail with Drive-Through Bay

      Commercial property ideal for automotive, service, or light industrial use.
      200 Dreith Drive, Alton, IL 62002
      View Details
    • $275,000
      4,000 SF

      Downtown Alton Mixed-Use Property

      Mixed-use property in downtown Alton with business and living space.
      205 State Street, Alton, IL 62002
      View Details
    • $210,000
      1,870 SF

      Alton Office Building For Sale

      Move-in ready office building in downtown Alton, Illinois.
      500 E 6th Street, Alton, IL 62002
      View Details
    • $250,000

      Alton Mixed-Use Commercial Opportunity

      Versatile commercial building with storefront, garage, and unfinished basement.
      2517 College Avenue, Alton, IL 62002
      View Details
    • $4,000,000
      64,800 SF

      Medical Office Building For Sale

      64,800 SF medical office building on 4.3 acres.
      1 Professional Drive, Alton, IL 62002
      View Details

    FAQs

    What type of property is this?
    Flex space - 3.46 acres near I-255 with buildings and utilities.
    Where is this flex space located?
    The property is located at 2920 Fosterburg Road Alton, IL.
    What is the asking price?
    The asking price for this property is $400,000.
    What are key features of this property?
    This property features: Prime location: Conveniently located just 0.5 miles from I‑255 and IL Rte 140.; Development flexibility: Potential for rezoning to commercial, multi‑family, or single‑family.; Significant acreage: Approximately 3.46 acres across two parcels.
    (618) 977-7912
    We can help!
    Listing Contact
    David Lauschke
    David Lauschke
    Real Estate License ID: 471000341
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    2920 Fosterburg Road, Alton, IL 62002
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!