Two-Building Triplex
For Sale
$430,000
Pending
2112 E Belle Avenue, Belleville, IL 62221
Six residential units feature three-bedroom layouts, attached garages, and tenant-paid utilities.
Property Size2,034 SF
Days on Market19
Property Features for 2112 E Belle Avenue
General Information
Standard status
Pending
Size
2,034 SF
Property subtype
Residential Income
Units
Unit Mix
6 x 3BR/2.5BA
Multifamily Units
6
Parking per Unit
1
Additional Details
Average Monthly Rent
$1,260
Taxes and HOA fees
Annual Taxes
$7,250
Building Details
Buildings
2
Listing Agency:
Johnston Realty, Inc.
(618) 779-4124
Listed By:
Gary Johnston · License #471004014
(618) 779-4124
Source:
Exprealty
Added: Jul 24
Changed: Aug 11
Last Checked: Aug 11 at 5:13AM
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 Johnston Realty, Inc.
Investment Insights
Based on property information with market context.
This multifamily offering includes two separate buildings, with three units in each structure. Every unit measures 1,212 square feet and includes three bedrooms, 2.5 baths, a large primary suite, and an attached one-car garage. The property is being sold in as-is condition, with no repairs to be completed by the seller.
Tenants are responsible for all utilities. The sale covers 2112 and 2116 E Belle Avenue, along with parcels 08-14.0-307-058 and 059. The six-unit configuration provides a consistent layout across the property and combines residential interiors with private attached garage space.
Tenants are responsible for all utilities. The sale covers 2112 and 2116 E Belle Avenue, along with parcels 08-14.0-307-058 and 059. The six-unit configuration provides a consistent layout across the property and combines residential interiors with private attached garage space.
Key Highlights
- Two buildings with 3 units each
- Each unit contains 1,212 square feet, 3 bedrooms, and 2.5 baths
- Attached 1‑car garage provided for every unit
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
$16,774
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
3.90%
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%
$335,480
$335.5K
Cap Rate 7%
$239,629
$239.6K
Cap Rate 9%
$186,378
$186.4K
Market Conditions
NOI Build-Up for 2,034 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
$25.6K $12.60/SF
− Vacancy
−$1.7K −$0.82/SF
EGI
$24.0K $11.78/SF
− OpEx
−$7.2K −$3.53/SF
NOI
$16.8K $8.25/SF
Area
St. Clair County, IL
Vacancy
6.50%
Lease Rate
$12.60 /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%
$335,480
Cap Rate 7%
$239,629
Cap Rate 9%
$186,378
Alternative Uses
Best Use
Multifamily LT 5
$239.6K
$209.7K – $279.6K
NOI $16,774 @ 7.0% cap · market cap 3.90%
Second Best
Apartment 5plus
$215.9K
$188.9K – $251.9K
NOI $15,111 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$481.5K
$421.3K – $561.8K
NOI $33,706 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
318
Businesses Nearby
Explore this area
Business Placement
Demographics for 62221, IL
29,039
Population
12,460
Households
2.3
Avg Household Size
38
Median Age
37%
College-Educated
96%
High-School Grad
35.0 sq mi
ZIP Area
830
Density / Sq Mi
$78,619
Median Household Income
$45,353
Median Earnings
$1,078
Median Rent
$207,200
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?
Triplex - Six residential units feature three-bedroom layouts, attached garages, and tenant-paid utilities.
Where is this triplex located?
The property is located at 2112 E Belle Avenue Belleville, IL.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Two buildings with 3 units each; Each unit contains 1,212 square feet, 3 bedrooms, and 2.5 baths; Attached 1‑car garage provided for every unit
