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    Versatile Commercial Buildings in Mount Olive Title is generated by Realmo AI

    500 E 2nd Street, Mount Olive, IL 62069

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    Pending
    $125,000

    Commercial Sale - Mount Olive, IL

    Property size:
    9,207 SF
    Lot size:
    0.11 Acres
    Added:
    Mar 30, 2026
    Days on Market:
    54
    Last Refresh:
    May 22 at 12:06 am

    Property Features for 500 E 2nd Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Pending
    APN
    02-001-842-00/ 02-001-844-00/ 02-000-535-00
    Size
    9,207 SF
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    1525.24

    Utilities

    Heating system
    Hot Water (Heating), Propane (Heating)

    Building Details

    Flooring type
    Concrete
    Building materials
    Block, Metal Siding
    Architectural style
    Other

    We can help!

    Listing Contact
    David Cisler
    David Cisler

    Listing agent David Cisler License #471003145

    Listing office Cisler & Associates Real Estate 229 West Main Street, Staunton, IL

    Listing date Mar 30, 2026

    MLS# 26009116 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

    • Two commercial buildings totaling 9,207 sq. ft. offer versatile space.
    • The primary metal building features a 6,912 sq. ft. heated workspace with 18‑foot ceilings.
    • Includes a 2,295 sq. ft. block building providing additional functional space.
    • Equipped with overhead doors and overhead storage areas in both buildings.
    • One building includes a car lift.
    • Cement floors throughout both buildings.

    Overview

    Located in Mount Olive, this property features two commercial buildings suitable for various business or storage purposes. The primary structure is a 6,912 sq. ft. metal building divided into two sections. One section measures 48' x 48' and includes a heated workspace with an 18-foot ceiling height, suitable for equipment, shop use, or larger projects. The adjoining 48' x 96' section offers 12-foot ceilings, providing space for storage, work areas, or additional operations. Additionally, there is a 2,295 sq. ft. block building on the property. Both buildings have cement floors, overhead doors, and overhead storage areas. The property is suited for mechanics, contractors, hobbyists, or small business operations. One of the buildings is equipped with a car lift. The property, situated on a 0.1148-acre lot, is suitable for workshop space, business operations, storage, or mixed-use opportunities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Auto Repair Shop Pharmacy Big Box & Wholesale Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Mount Olive
    County
    Macoupin
    State
    Illinois
    Longitude
    -89.7508
    Latitude
    39.0651

    Nearby Similar for Sale

    • $168,000
      5,264 SF

      Versatile Commercial Building with Extra Lots

      Two-story commercial building with two lots in town center.
      111 W Main Street, Mount Olive, IL 62069
      View Details
    • $49,900
      1,200 SF

      Mount Olive Car Wash Business

      Turn-key car wash business with good local support.
      129 W Main Street, Mount Olive, IL 62069
      View Details

    FAQs

    What type of property is this?
    Flex space - Two commercial buildings offering flexibility for business or storage.
    Where is this flex space located?
    The property is located at 500 E 2nd Street Mount Olive, IL.
    What is the asking price?
    The asking price for this property is $125,000.
    What are key features of this property?
    This property features: Two commercial buildings totaling 9,207 sq. ft. offer versatile space.; The primary metal building features a **6,912 sq. ft. heated workspace with 18‑foot ceilings.**; Includes a 2,295 sq. ft. block building providing additional functional space.
    (618) 781-1745
    We can help!
    Listing Contact
    David Cisler
    David Cisler
    Real Estate License ID: 471003145
    Learn More
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    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
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