Rehabilitated Mixed-Use
For Sale
$1,025,000
100 E Main Street, Collinsville, IL 62234
Updated property combines upper-level loft residences with a commercial component and rear tenant parking.
Property Size10,824 SF
Days on Market345
Property Features for 100 E Main Street
General Information
Standard status
Active
Size
10,824 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,059
Building Details
Building Size
10,824 SF
Year Built
1920
Buildings
2
Stories
2
Listing Agency:
Palmer Properties 3, LLC
(618) 977-7065
Listed By:
Jane Crawford
(618) 977-7065
Source:
Exit2newbeginningz
Added: Sep 8, 2025
Changed: Aug 17
Last Checked: Aug 18 at 12:07AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Palmer Properties 3, LLC
Investment Insights
Based on property information with market context.
Built in 1920 and substantially renovated in 2018, this mixed-use building contains five upper lofts and one commercial space. The improvements included new HVAC, electrical, plumbing, and windows, while interior character remains visible through exposed brick walls and open ceiling rafters. Washer and dryer hookups are provided in each loft.
The property is located on Main Street in Collinsville, Illinois, with tenant parking positioned behind the building. The property is reported at 100% occupancy and includes a long-term anchor tenant. Its combination of residential loft space and commercial occupancy creates a compact mixed-use configuration within a fully rehabilitated building.
The property is located on Main Street in Collinsville, Illinois, with tenant parking positioned behind the building. The property is reported at 100% occupancy and includes a long-term anchor tenant. Its combination of residential loft space and commercial occupancy creates a compact mixed-use configuration within a fully rehabilitated building.
Key Highlights
- Five upper lofts and one commercial space
- Renovated in 2018 with new HVAC, electrical, plumbing, and windows
- 100% occupancy with a long‑term anchor tenant
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$74,843
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,496,860
$1.5M
Cap Rate 7%
$1,069,186
$1.1M
Cap Rate 9%
$831,589
$831.6K
Market Conditions
NOI Build-Up for 10,824 SF
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.
Gross rent
$148.1K $13.68/SF
− Vacancy
−$12.0K −$1.11/SF
EGI
$136.1K $12.57/SF
− OpEx
−$61.2K −$5.66/SF
NOI
$74.8K $6.91/SF
Area
Madison County, IL
Vacancy
8.10%
Lease Rate
$13.68 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,496,860
Cap Rate 7%
$1,069,186
Cap Rate 9%
$831,589
Alternative Uses
Best Use
Retail
$1.90M
$1.66M – $2.21M
NOI $132,836 @ 7.0% cap · market cap 12.96%
Second Best
Mixed Use
$1.51M
$1.32M – $1.76M
NOI $105,696 @ 7.0% cap · market cap 10.31%
Theoretical Best
Office A
$2.95M
$2.58M – $3.44M
NOI $206,522 @ 7.0% cap · market cap 20.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
597
Businesses Nearby
Explore this area
Business Placement
Demographics for 62234, IL
31,843
Population
14,947
Households
2.1
Avg Household Size
40
Median Age
27%
College-Educated
92%
High-School Grad
37.3 sq mi
ZIP Area
854
Density / Sq Mi
$66,437
Median Household Income
$41,710
Median Earnings
$995
Median Rent
$162,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Updated property combines upper-level loft residences with a commercial component and rear tenant parking.
Where is this mixed-use property located?
The property is located at 100 E Main Street Collinsville, IL.
What is the asking price?
The asking price for this property is $1,025,000.
What are key features of this property?
This property features: Five upper lofts and one commercial space; Renovated in 2018 with new HVAC, electrical, plumbing, and windows; 100% occupancy with a long‑term anchor tenant
