4-Unit Mixed-Use
For Sale
$400,000
108-110 E Main St, Mascoutah, IL 62258
Downtown building combines leased commercial and residential space with a vacant apartment.
Property Size3,838 SF
Price / SF$104.22
Days on Market30
Property Features for 108-110 E Main St
General Information
Standard status
Active
Size
3,838 SF
Property subtype
Multi-Family
Financials
Gross Income
$34,200
Average Monthly Rent
$750
Units
Unit Mix
1 x 1BR, 1 x 2BR
Multifamily Units
2
Building Details
Year Built
1950
Tenancy
Multi
Listing Agency:
Strano & Associates
(618) 257-7690
Listed By:
Michaela Patterson · License #475.198801
Source:
Avenuerealtyteam
Added: Jul 31
Changed: Aug 29
Last Checked: Aug 25 at 4:02AM
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 Strano & Associates
Investment Insights
Based on property information with market context.
This four-unit mixed-use building contains two commercial spaces and two residential apartments. One commercial space is leased through June 2029, while the other has a lease extending through October 1, 2028. One-bedroom residential occupancy is in place on a month-to-month basis, and the vacant two-bedroom apartment provides space for renovation or other approved use. The storefront has been updated and contributes to the property’s commercial presentation.
Built in 1900, the property is located at 108-110 E Main Street in downtown Mascoutah, Illinois. Scott Air Force Base is only minutes away, placing the building within an established community setting with both commercial and residential components.
Built in 1900, the property is located at 108-110 E Main Street in downtown Mascoutah, Illinois. Scott Air Force Base is only minutes away, placing the building within an established community setting with both commercial and residential components.
Key Highlights
- Four‑unit configuration with two commercial spaces and two residential apartments
- Two leased commercial spaces with lease terms extending through June 2029 and October 1, 2028
- Vacant two‑bedroom apartment available for renovation
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
$28,512
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
7.13%
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%
$570,240
$570.2K
Cap Rate 7%
$407,314
$407.3K
Cap Rate 9%
$316,800
$316.8K
Market Conditions
NOI Build-Up for 3,838 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
$55.3K $14.40/SF
− Vacancy
−$3.4K −$0.89/SF
EGI
$51.8K $13.51/SF
− OpEx
−$23.3K −$6.08/SF
NOI
$28.5K $7.43/SF
Area
St. Clair County, IL
Vacancy
6.20%
Lease Rate
$14.40 /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%
$570,240
Cap Rate 7%
$407,314
Cap Rate 9%
$316,800
Alternative Uses
Best Use
Mixed Use
$555.1K
$485.8K – $647.7K
NOI $38,860 @ 7.0% cap · market cap 9.72%
Second Best
Retail
$547.8K
$479.4K – $639.2K
NOI $38,349 @ 7.0% cap · market cap 9.59%
Theoretical Best
Office A
$908.6K
$795.0K – $1.06M
NOI $63,601 @ 7.0% cap · market cap 15.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
329
Businesses Nearby
Explore this area
Business Placement
Demographics for 62258, IL
10,379
Population
3,908
Households
2.7
Avg Household Size
38
Median Age
27%
College-Educated
95%
High-School Grad
75.4 sq mi
ZIP Area
138
Density / Sq Mi
$90,417
Median Household Income
$46,395
Median Earnings
$1,231
Median Rent
$229,500
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 - Downtown building combines leased commercial and residential space with a vacant apartment.
Where is this mixed-use property located?
The property is located at 108-110 E Main St Mascoutah, IL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Four‑unit configuration with two commercial spaces and two residential apartments; Two leased commercial spaces with lease terms extending through June 2029 and October 1, 2028; Vacant two‑bedroom apartment available for renovation
