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

    600 MILL Street Bethalto, IL 62010

    View on Map
    For Sale
    $163,350

    Land - Bethalto, IL

    Lot size:
    2.50 Acres
    Added:
    May 5, 2025
    Days on Market:
    332
    Last Refresh:
    Apr 1 at 9:06 pm

    Property Features for 600 MILL Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Multi-Family
    Exterior features
    Level
    Standard status
    Active
    APN
    19-2-08-01-19-401-013
    Lot size
    2.50 Acres

    Taxes and HOA fees

    TaxYear
    2021
    TaxAnnualAmount
    704

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Paige E Davis

    Listing agent Paige E Davis License #475182630

    Listing office Key Real Estate 114 S Prairie St, BETHALTO, IL

    Listing date May 5, 2025

    MLS# 17069143 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.

    Overview

    Bethalto Wooded Multi-Family Building Site

    This 2.5-acre property, located in the heart of Bethalto, Illinois, presents an excellent wooded building site. The site is generally level and features trees around the perimeter. Recently rezoned to multi-family zoning, the property is situated close to schools, offering potential for residential development.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Bethalto
    County
    Madison
    State
    Illinois
    Longitude
    -90.048929
    Latitude
    38.910839

    Nearby Similar for Sale

    • $975,000

      Bethalto Commercial Space For Sale

      Corner lot commercial building with warehouse, showroom, and restaurant.
      705 Texas Boulevard, Bethalto, IL 62010
      View Details
    • $225,000
      2,520 SF

      Turnkey Income Property in Bethalto

      Well-maintained 3-unit property with immediate cash flow potential.
      411 Sheridan Street, Bethalto, IL 62010
      View Details
    • $334,899
      2,880 SF

      Income-Producing Brick Residential Property

      Well-maintained, updated, fully occupied investment property in Bethalto, Illinois.
      562 Sheridan Street, Bethalto, IL 62010
      View Details
    • $995,000
      6,930 SF

      Insulated Metal Building on Large Lot

      2.96 acre lot with insulated metal building and secured perimeter.
      300 Rue Des Chateau Street, Bethalto, IL 62010
      View Details
    • $1,240,000

      Bethalto Commercial Land For Sale

      12.4-acre commercial land suitable for various development projects.
      705 S Moreland, Bethalto, IL 62010
      View Details
    • $16,900

      Residential Lot in Bethalto School

      Spacious lot in Bethalto School District with utilities available.
      19 Fairway Drive, Bethalto, IL 62010
      View Details
    • $16,900

      Residential Lot in Bethalto, Illinois

      Spacious lot with utilities available, suitable for building a home.
      20 Fairway Drive, Bethalto, IL 62010
      View Details
    • $35,000

      Corner Lot Near Interstate

      Flat corner lot near interstate, shopping, and lake.
      107 Gabrielle Circle, Bethalto, IL 62010
      View Details
    • $28,500

      Residential Lots in Bethalto Subdivision

      Available lots in established Bethalto subdivision with surrounding homes.
      0 Kutter Aljets Place Lots, Bethalto, IL 62010
      View Details
    • $1,200,000

      Development Land Opportunity in Bethalto

      53.2 acres suitable for development or private estate.
      800 Block Prairie Street Street, Bethalto, IL 62010
      View Details
    • $1,851,097
      10,640 SF

      Under Construction Mini-Market Store

      10,640 SF freestanding building with NNN lease in Bethalto, IL.
      601 S Moreland Rd, Bethalto, IL
      View Details
    • Contact for pricing

      Development Land Near Lake Area

      Potential development sites with utilities and campsite potential.
      670 Melody Ln, Bethalto, IL
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 2.5-acre wooded building site in the heart of Bethalto, Illinois.
    Where is this residential land & home lot located?
    The property is located at 600 MILL Street Bethalto, IL.
    What is the asking price?
    The asking price for this property is $163,350.
    What are key features of this property?
    This property features: Multi‑family zoning (recently rezoned) opens doors to various development possibilities.; Excellent wooded building site provides a beautiful backdrop.; Level site allows for ease of construction.
    (618) 200-1896
    We can help!
    Listing Contact
    Paige E Davis
    Real Estate License ID: 475182630
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!