Fully Leased Retail
For Sale
$7,911,000
2323 & 2329 Plum St, Edwardsville, IL 62025
100% occupied retail center in a fast-growing St. Louis suburb.
Property Size21,703 SF
Days on Market167
Property Features for 2323 & 2329 Plum St
General Information
Standard status
Active
Size
21,703 SF
Property subtype
Retail
Building Details
Building Size
21,703 SF
Year Built
2019
Listing Agency:
ParaSell Inc
(949) 375-8463
Listed By:
Scott Reid · License #9009637
(949) 375-8463
Source:
Cppcre
Added: Mar 6
Changed: Aug 20
Last Checked: Aug 20 at 5:29AM
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 ParaSell Inc
Investment Insights
Based on property information with market context.
This 100% occupied retail center is located in a fast-growing suburb of St. Louis. The property features a mix of local and regional tenants and is situated on a retail corridor directly across from Sam’s Club, AMC Theater, and a Meijer-anchored shopping center that is upcoming. The property is a nine-tenant NNN retail strip center. Tenants are responsible for CAM, taxes, insurance, parking lot, and HVAC maintenance. The landlord is responsible for the roof and structure. The location is near a Walmart Supercenter, Target, Home Depot, Lowe’s, Planet Fitness, ALDI, Kohl’s, Best Buy, Home Goods, Office Max, and PetSmart. It is also located 2 miles from Southern Illinois University Edwardsville and Lewis and Clark Community College. The property is connected to the MCT Trail System, with the Goshen Trail running directly in front of the property. Edwardsville has experienced a population growth of 24.7% since 2000.
Key Highlights
- 100% Occupied NNN Retail Center: Provides immediate and stable income.
- Prime Retail Corridor Location: Situated directly across from major retailers like Sam’s Club and AMC Theater, with a Meijer‑anchored center coming soon, ensuring high visibility and traffic.
- Strong Tenant Mix: Features a dynamic mix of local and regional tenants.
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
$266,348
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
3.37%
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%
$5,326,960
$5.3M
Cap Rate 7%
$3,804,971
$3.8M
Cap Rate 9%
$2,959,422
$3.0M
Market Conditions
NOI Build-Up for 21,703 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
$390.7K $18.00/SF
− Vacancy
−$10.2K −$0.47/SF
EGI
$380.5K $17.53/SF
− OpEx
−$114.1K −$5.26/SF
NOI
$266.3K $12.27/SF
Area
Madison County, IL
Vacancy
2.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$5,326,960
Cap Rate 7%
$3,804,971
Cap Rate 9%
$2,959,422
Alternative Uses
Best Use
Retail
$3.80M
$3.33M – $4.44M
NOI $266,348 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.92M
$5.18M – $6.90M
NOI $414,093 @ 7.0% cap · market cap 5.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
701
Businesses Nearby
12k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
BP
Shops & Services
7,023 visits/mo
0.4 miles
AutoZone
Shops & Services
2,957 visits/mo
0.3 miles
O'Reilly Auto Parts
Shops & Services
2,044 visits/mo
0.3 miles
Demographics for 62025, IL
35,229
Population
14,347
Households
2.5
Avg Household Size
36
Median Age
53%
College-Educated
97%
High-School Grad
112.2 sq mi
ZIP Area
314
Density / Sq Mi
$103,300
Median Household Income
$54,529
Median Earnings
$1,215
Median Rent
$295,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Montclaire Shopping Center — 1500 Troy Rd, Edwardsville, IL 62025
Frequently Asked Questions
What type of property is this?
Shopping center - 100% occupied retail center in a fast-growing St. Louis suburb.
Where is this shopping center located?
The property is located at 2323 & 2329 Plum St Edwardsville, IL.
What is the asking price?
The asking price for this property is $7,911,000.
What are key features of this property?
This property features: 100% Occupied NNN Retail Center: Provides immediate and stable income.; Prime Retail Corridor Location: Situated directly across from major retailers like Sam’s Club and AMC Theater, with a Meijer‑anchored center coming soon, ensuring high visibility and traffic.; Strong Tenant Mix: Features a dynamic mix of local and regional tenants.
