Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    O'Fallon Land For Sale Title is generated by Realmo AI

    1328 Park Plz Dr, O Fallon, IL

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Land available in premier mixed-use development with interstate visibility.

    Type:LAND
    Lot size:
    0.77 Acres
    Added:
    Mar 28, 2023
    Days on Market:
    1166
    Last Refresh:
    May 20 at 8:46 pm

    Property Features for 1328 Park Plz Dr

    General Information

    Standard status
    Active
    Lot size
    0.77 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    David Wittenauer
    David Wittenauer

    Listing agent David Wittenauer License #1999074639

    Listing office Wittenauer Properties

    Listing date Mar 28, 2023

    Source Moodyscre

    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 Wittenauer Properties

    HighLights

    • Great interstate visibility with interstate signage available.
    • Located in a strong retail corridor within a high growth area.
    • Easy access from I‑64, Hwy 50 and Green Mount Rd.
    • TIF District (23 years) was approved on May 7, 2012.
    • Central Park Plaza is a premier mixed‑use development.
    • Available lot sizes range from 0.77 – 27.82 acres.

    Overview

    Central Park Plaza is a mixed-use development. The available land ranges from 0.77 to 27.82 acres. The property has interstate visibility and interstate signage is available. It benefits from a strong retail corridor in a high growth area. A TIF District (23 years) was approved on May 7, 2012. The property has easy access from I-64, Hwy 50 and Green Mount Rd. It is located 14 miles from downtown St. Louis. The property has 1.2 miles of frontage along I-64 and is situated between Exit 14 (Highway 50) and Exit 16 (Green Mount Rd).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    O Fallon
    County
    St. Clair
    State
    Illinois
    Longitude
    -89.9448
    Latitude
    38.5871

    Nearby Similar for Sale

    • $799,000
      5,890 SF

      Versatile Mixed-Use Commercial Building

      Multi-use commercial building in O'Fallon with live-work potential.
      101 Springfield Court, O'Fallon, IL 62269
      View Details
    • $285,000
      1,120 SF

      O'Fallon Commercial Building For Sale

      Iconic building on Highway 50, near schools and I-64.
      406 W Highway 50, O'Fallon, IL 62269
      View Details
    • $235,000

      O'Fallon Land with Barn

      3.2 acres in O’Fallon, IL with barn and stables.
      937 Rowe Lane, O'Fallon, IL 62269
      View Details
    • $575,000

      Highway 50 Development Opportunity

      1.42 acres on Highway 50 in O'Fallon, Illinois.
      813 And 815 W Highway 50, O'Fallon, IL 62269
      View Details
    • $1,960,200
      1,296 SF

      Prime Commercial Land For Sale

      15 acres of commercial land in a high-traffic area.
      650 Hartman Lane, O'Fallon, IL 62269
      View Details
    • $1,520,000

      O'Fallon Multifamily Investment Opportunity

      Fully leased, 17-unit condominium portfolio in O'Fallon, Illinois.
      161-306 Eagle Ridge, O'Fallon, IL 62269
      View Details
    • $19,900

      Residential Land Near Scott AFB

      Residential land suitable for pre-fabricated home near Scott AFB.
      210 Meadowbrook Drive, O'Fallon, IL 62269
      View Details
    • $549,780

      10.78 Acres on Thouvenot Lane

      10.78 acres of commercial land for sale with utilities.
      1457 Thouvenot Ln, O'Fallon, IL 62269
      View Details
    • $449,000

      2.87 Acre Development Parcel

      2.87 acre parcel for development with high visibility.
      1414 Frontage Rd, O'Fallon, IL 62269
      View Details
    • $49,900

      O'Fallon Acreage: Build Your Dream

      0.98-acre lot near Timber Creek, no HOA, convenient location.
      906 Hawthorne Place, O'Fallon, IL 62269
      View Details
    • $1,960,200
      1,296 SF

      Commercial Land on Hartman Lane

      15-acre commercial lot near I-64 with high traffic.
      650 Hartman Lane, O'Fallon, IL 62269
      View Details
    • $3,190,000

      Retail Investment Opportunity on Highway

      High-visibility retail center with stable tenants near major retailers.
      1407 W Hwy 50, O'Fallon, IL
      View Details

    FAQs

    What type of property is this?
    Land - Land available in premier mixed-use development with interstate visibility.
    Where is this land located?
    The property is located at 1328 Park Plz Dr O Fallon, IL.
    What is the asking price?
    The asking price for this property is $201,247.
    What are key features of this property?
    This property features: Great interstate visibility with interstate signage available.; Located in a strong retail corridor within a high growth area.; Easy access from I‑64, Hwy 50 and Green Mount Rd.
    (618) 719-1197 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing David Wittenauer
    David Wittenauer
    Real Estate License ID: 1999074639
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    1328 Park Plz Dr, O'Fallon, IL
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!