Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    6108 Godfrey Rd Godfrey, IL 62035

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $295,000

    1.8 acre commercial property suitable for various businesses.

    Lot size:
    1.80 Acres

    Property Features for 6108 Godfrey Rd

    General Information

    Standard status
    Active
    Lot size
    1.80 Acres

    We can help!

    Listing Contact
    Mark Harman
    Source: Exitrealty

    Listing Agency: Tarrant and Harman Real Estate and Auction Co Listing Agent: Mark Harman

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

    Learn more

    Overview

    Commercial Land in Enterprise Zone

    This commercial property, situated within the Enterprise Zone and Business District, presents an opportunity for a variety of businesses. The 1.8 acre property is located moments from 255 and approximately 30 minutes from St. Louis. The sale includes three parcels: 24-2-01-23-03-301-018, 24-2-01-23-03-301-019, and 24-2-01-23-03-301-020. The property is located in a high-traffic suburban area. Taxes, lot size, and legal description are based on the combination of all three parcels. Zoning verification with the Village of Godfrey is recommended for prospective buyers and their agents.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Godfrey
    County
    Madison
    State
    Illinois
    Longitude
    -90.1917
    Latitude
    38.955963

    Nearby Similar for Sale

    • $150,000
      714 SF

      Charming Cottage for Commercial Use

      Updated cottage suitable for retail or office with parking.
      509 Pearl St, Godfrey, IL 62035
      View Details
    • $140,000
      1.06 Acres

      Godfrey, IL Commercial Office Space

      Turn-key office space in high-traffic area, ready for immediate occupancy.
      2720 Grovelin St, Godfrey, IL 62035
      View Details
    • $200,000
      2,106 SF

      Godfrey Road Commercial Property

      High-visibility commercial property on Godfrey Road with updated features.
      6118 Godfrey Rd, Godfrey, IL 62035
      View Details
    • $249,000
      2,760 SF

      Office Building in Godfrey, IL

      Office building with basement in D'Adrian Professional Park.
      1317 D'adrian Professional Park, Godfrey, IL 62035
      View Details
    • $120,000
      0.57 Acres

      Godfrey Mixed-Use Property For Sale

      Commercial and residential property with business and rental income potential.
      401 Pearl St, Godfrey, IL 62035
      View Details
    • $75,000
      1,652 SF

      Godfrey Office Building For Sale

      Commercial building with office conversion, high traffic location in Godfrey.
      6120 Godfrey Rd, Godfrey, IL 62035
      View Details
    • $200,000
      2,106 SF

      Godfrey Road Commercial Property For Sale

      Commercial property on Godfrey Road with high visibility and ample parking.
      6118 Godfrey Rd, Godfrey, IL 62035
      View Details
    • $75,000
      1,652 SF

      6120 Godfrey Road, Godfrey, IL 62035

      Office buildings • 1,652 SF
      6120 Godfrey Rd, Godfrey, IL 62035
      View Details
    • $350,000
      4.87 Acres

      Godfrey Commercial Land - I-255 Access

      Prime 4.87-acre commercial lot near Walmart.
      6405 Godfrey Rd, Godfrey, IL 62035
      View Details
    • $279,000
      Pending

      Land in Azalea Gardens Condominiums

      Land available in Azalea Gardens Condominiums community.
      4803 Azalea Pl, Godfrey, IL 62035
      View Details
    • $269,000
      0.48 Acres

      Godfrey Commercial Building - High Visibility

      Multi-use building with ample parking and basement.
      3021 Godfrey Rd, Godfrey, IL 62035
      View Details
    • $80,000
      0.14 Acres

      Godfrey Road Commercial Building

      High-traffic location, updated office space
      6120 Godfrey Rd, Godfrey, IL 62035
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.8 acre commercial property suitable for various businesses.
    Where is this commercial land located?
    The property is located at 6108 Godfrey Rd Godfrey, IL.
    What is the asking price?
    The asking price for this property is $295,000.
    What are key features of this property?
    This property features: - 1.8 acre m/l commercial property suitable for a variety of businesses.; - Located within the Enterprise Zone and Business District.; - Opportunity to build to suit specific business needs.
    (618) 971-7720
    Request Owner's contact information
    6108 Godfrey Rd Godfrey, IL 62035
    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.
    6108 Godfrey Rd
    Godfrey, IL 62035
    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
    6108 Godfrey Rd Godfrey, IL 62035
    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
    Mark Harman
    Real Estate License ID: 471015081
    (618) 971-7720 (618) 433-9436 (618) 465-6411
    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!