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    105 S Jefferson St Millstadt, IL 62260

    View on Map
    New
    For Sale
    $550,000

    Turnkey restaurant and multi-unit income property on a high-visibility corner.

    Property size:
    16,553 SF
    Lot size:
    0.38 Acres
    Added:
    Apr 3, 2026
    Days on Market:
    3
    Last Refresh:
    Apr 3 at 12:15 pm

    Property Features for 105 S Jefferson St

    General Information

    Standard status
    Active
    Property type
    Mixed-use properties, Conventional restaurants, Multifamily properties
    Size
    16,553 SF
    Class
    B
    Total Parking Spaces
    35
    Lot size
    0.38 Acres

    Building Details

    Year Built
    1960
    Buildings
    2
    Stories
    2

    We can help!

    Listing Contact
    Jennifer Sukup

    Listing agent Jennifer

    Listing office

    Listing date Apr 3, 2026

    Overview

    Turnkey Restaurant & Multi-Unit Property

    This mixed-use property is located in Millstadt, Illinois, and features a turnkey restaurant and multi-unit income property on a high-visibility corner lot. The property includes a fully operational restaurant space with a pizza oven, salad bar, walk-ins, two dining rooms, a private office, and a gaming room with space for 6 machines (pending approval). There is ample outdoor parking with room for outdoor seating expansion. In addition to the restaurant, the property includes three additional income-producing units: a 1,600 sq ft commercial space (occupied), a large 2-bedroom apartment (occupied), and a 400 sq ft storage unit (leased). The property has a new roof (2019), and stable tenants. The restaurant is fully equipped and ready for takeover or rebranding. The property is ideal for investors, operators, and hospitality groups. The seller is open to creative structures, including a lease-to-own option for the restaurant business as a stand-alone opportunity. The property is located minutes from St. Louis and a short drive to Scott Air Force Base, benefiting from strong local traffic, regional visitors, and Millstadt’s growing restaurant and hospitality scene. The lot size is 0.38 acres.
    Location Intelligence

    Current Use by Public Records

    Breadeaux Pizza Restaurant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Millstadt
    County
    St. Clair
    State
    Illinois
    Longitude
    -90.09166
    Latitude
    38.45628

    Nearby Similar for Sale

    • $385,000
      1,896 SF

      Victorian Multifamily Property in Millstadt

      Income-producing Victorian with four apartments near Millstadt's shops and restaurants.
      23 W Laurel Street, Millstadt, IL 62260
      View Details
    • $550,000
      16,553 SF

      Millstadt Mixed-Use Investment Opportunity

      Turnkey restaurant and multi-unit income property on a high-visibility corner.
      105 S Jefferson Street, Millstadt, IL 62260
      View Details
    • $1,263,000
      3,200 SF

      Office/Retail Space in Millstadt Plaza

      3,200 SF office/retail space in established retail center.
      548 E Washington St, Millstadt, IL
      View Details
    • $1,605,044

      Multi-Tenant Industrial Investment Opportunity

      Industrial complex with recent lease extensions and major tenant.
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      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Turnkey restaurant and multi-unit income property on a high-visibility corner.
    Where is this mixed-use property located?
    The property is located at 105 S Jefferson St Millstadt, IL.
    What is the asking price?
    The asking price for this property is $550,000.
    (618) 570-0741
    We can help!
    Listing Contact
    Jennifer Sukup
    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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