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

    845 Danforth St Alton, IL 62002

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $775,000

    Prime Alton location, 26 acres, large building.

    Property Features for 845 Danforth St

    General Information

    Property type
    Other commercial real estate
    Lot Size
    1,132,560 SF

    We can help!

    Listing Contact
    Travis Tarrant

    Listing Agency: Tarrant And Harman Real Estate Listing Agent: Travis Tarrant

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional commercial property in Alton, Illinois presents a unique investment opportunity encompassing 26 acres of largely level to gently rolling land. The property is conveniently located and includes two parcels: 23-2-07-10-08-201-026.001 and 23-2-07-10-08-201-003. The land has already been platted, simplifying future development plans. In addition to the expansive acreage, the property features a substantial 35,000 square foot building, previously utilized as the Ursuline Convent. This three-story structure boasts a diverse layout including a chapel, classrooms, dorm rooms, gathering areas, and a fully equipped kitchen. Further enhancing the property's versatility are several ancillary buildings: a garage, laundry facility, boiler building, and a smaller residential structure. The property's size, existing infrastructure, and prime Alton location offer significant potential for a variety of commercial ventures. This is a rare opportunity to acquire a substantial property with considerable development potential in a desirable location. The asking price is $775,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Nunemaker LLC Hardware & Home Improvement

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Alton
    County
    Madison-IL
    State
    Illinois
    Longitude
    -90.19788
    Latitude
    38.9068

    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 St, Alton, IL 62002
      View Details
    • $350,000
      0.04 Acres

      Turnkey Bar with Gaming

      Established bar with gaming in downtown Alton, Illinois.
      314 State St, Alton, IL 62002
      View Details
    • $149,900
      4,687 SF

      Mixed-Use Building in HUB Zone

      Two-story mixed-use building with retail, office, and warehouse potential.
      1850 E Broadway, Alton, IL 62002
      View Details
    • $340,000
      19,534 SF

      Former Bank Building in Alton

      Versatile commercial property with ample parking and finished lower level.
      1520 Washington Ave, 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 St, 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
    • $250,000
      2,263 SF

      Alton Mixed-Use Commercial Opportunity

      Versatile commercial building with storefront, garage, and unfinished basement.
      2517 College Ave, 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 St, Alton, IL 62002
      View Details
    • $89,000
      1,980 SF

      Alton Commercial Building with Workshop

      Commercial building with mechanic shop and car enthusiast workshop.
      1117 Milton Rd, Alton, IL 62002
      View Details
    • $120,000
      8,000 SF

      Historical Building in Alton, Illinois

      Historical building suitable for church, daycare, restaurant, or community center.
      600 Henry St, 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 Dr, Alton, IL 62002
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - Prime Alton location, 26 acres, large building.
    Where is this commercial real estate located?
    The property is located at 845 Danforth St Alton, IL.
    What is the asking price?
    The asking price for this property is $775,000.
    4339436
    Request Owner's contact information
    845 Danforth St Alton, IL 62002
    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.
    845 Danforth St
    Alton, IL 62002
    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
    845 Danforth St Alton, IL 62002
    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

    We can help!
    Listing Contact
    Travis Tarrant
    4339436
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!