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    Millstone Plaza Retail Opportunity Title is generated by Realmo AI

    4510 N Illinois Street, Swansea, IL 62226

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    Claim this Listing
    For Sale
    $980,000

    Business - Swansea, IL

    Type:Business
    Property size:
    6,000 SF
    Lot size:
    2.28 Acres
    Price / SF:
    $163/SF
    Added:
    May 11, 2026
    Days on Market:
    31
    Last Refresh:
    Jun 10 at 5:06 am

    Property Features for 4510 N Illinois Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Business
    Standard status
    Active
    APN
    08-03.0-100-051
    Size
    6,000 SF
    Lot size
    2.28 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    17084

    Utilities

    Cooling system
    Multi Units

    Building Details

    Year built
    2003
    Flooring type
    Carpet
    Building materials
    Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    Annmarie Pickering

    Listing agent Annmarie Pickering License #475.173204

    Listing office Coldwell Banker Brown Realtors 911 E Highway 50, Edwardsville, IL

    Listing date May 11, 2026

    MLS# 25069616 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

    • 6,000 SF building with four 1,500 SF units
    • Additional 1.51‑acre lot approved for 9 more units
    • High visibility with signage on Smelting Works (95' frontage) and Route 159
    • Seller is willing to split the building and developed lot
    • Building constructed with brick
    • Built in 2003

    Overview

    Millstone Plaza is available for purchase, featuring a 6,000 square foot building divided into four 1,500 square foot units, situated on a 0.96-acre lot. Additionally, the property includes a developed 1.51-acre lot approved for the construction of nine additional units. Millstone Plaza benefits from signage on the 95-foot frontage on Smelting Works, as well as permanent signage on Route 159. The property is located in Swansea, IL.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    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.

    Component $ $/SF
    Gross rent $93.6k $15.60
    − Vacancy −$8.0k −$1.33
    EGI $85.6k $14.27
    − OpEx −$25.7k −$4.28
    NOI $60.0k $9.99
    6,000 SF · lease $15.60/SF/yr · vacancy 8.50% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $856.4K
    $749.4K – $999.2K (±1% cap)
    NOI $59,951 @ 7.0% cap · market cap 6.12%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $1.42M
    $1.24M – $1.66M (±1% cap)
    NOI $99,429 @ 7.0% cap · market cap 10.15%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Strip malls

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Swansea
    County
    St. Clair
    State
    Illinois
    Longitude
    -89.982737
    Latitude
    38.569299

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    FAQs

    What type of property is this?
    Strip mall - Retail building and approved lot for sale in Swansea, IL.
    Where is this strip mall located?
    The property is located at 4510 N Illinois Street Swansea, IL.
    What is the asking price?
    The asking price for this property is $980,000.
    What are key features of this property?
    This property features: 6,000 SF building with four 1,500 SF units; Additional 1.51‑acre lot approved for 9 more units; High visibility with signage on Smelting Works (95' frontage) and Route 159
    (808) 866-4840
    We can help!
    Listing Contact
    Annmarie Pickering
    Real Estate License ID: 475.173204
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