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

    221 Rec Plex Dr O Fallon, IL

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Land near O'Fallon's sports destination and healthcare highway.

    Type:LAND
    Lot size:
    0.65 Acres
    Added:
    Nov 7, 2025
    Days on Market:
    146
    Last Refresh:
    Mar 29 at 8:09 pm

    Property Features for 221 Rec Plex Dr

    General Information

    Standard status
    Active
    Lot size
    0.65 Acres
    Property subtype
    LAND

    Spaces For Lease

    at 221 Rec Plex Dr Contact us

    We can help!

    Listing Contact
    Tim Gearhart
    Tim Gearhart

    Listing agent Tim Gearhart

    Listing office L3 Corporation

    Listing date Nov 7, 2025

    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 L3 Corporation

    Overview

    Land Near Premier Sports Destination

    This land is located near a premier sports destination in O'Fallon, which has seen over $30 million in investment over the past decade for baseball and soccer facilities. O'Fallon parks attract over 3 million visitors annually. The site is also located near the emerging 'healthcare highway' on I-64, with Memorial East Hospital drawing 100,000 new visitors each year and St. Elizabeth's Hospital bringing in 250,000 visitors. Scott Air Force Base, employing 13,000 people with a payroll of nearly $2.4 billion, contributes an annual economic impact of $3 billion to the region. The regional appeal of O'Fallon generates nearly $315 million in annual food and drink demand and over $3 billion in annual retail demand.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Law Firm Building Supply Big Box & Wholesale Store Auto Repair Shop Gym & Fitness Center Kitchen & Bath Showroom HVAC Service Electrical Service Electronics & Wireless Store Travel Agency

    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
    -89.9907
    Latitude
    38.4745

    Nearby Similar for Lease

    • $21/mo

      Furnished Office Space in O'Fallon

      Class A office space available for lease in O'Fallon.
      620 Pierce Blvd, O Fallon, IL
      View Details
    • Contact for pricing

      O'Fallon Office/Retail Space for Lease

      600 SF office/retail space in O'Fallon's downtown district.
      300-302 W State St, O'Fallon, IL
      View Details
    • Contact for pricing

      Prime Commercial Lot For Lease

      3.64 AC lot in high-traffic area, ideal for retail.
      300 Southview Plaza, O'Fallon, IL, 62269
      View Details
    • $13/mo

      Retail Space on Hartman Lane

      1,200 SF retail space for lease in O’Fallon, IL.
      208-210 Hartman Ln, O'Fallon, IL
      View Details
    • $29/mo

      Retail Space on Central Park

      High-profile retail space with ample parking and signage opportunities.
      1140 Central Park Dr, O Fallon, IL
      View Details
    • Contact for pricing

      Retail Space Near Interstate 64

      Sublease opportunity in O'Fallon, IL with high visibility.
      1234 Central Park Dr, O'Fallon, IL
      View Details
    • Contact for pricing

      Executive Office Suite For Lease

      Executive office suite in O’Fallon, IL, near Interstate 64.
      9 Eagle Center, O'Fallon, IL 62269
      View Details
    • $25/mo

      Retail Space Near Mixed-Use Development

      Retail space available near a 29-acre mixed-use development.
      1222 Central Park Dr, O Fallon, IL
      View Details
    • Contact for pricing

      Retail Space Near Interstate 64

      Retail space with excellent visibility and access near St. Louis.
      700 Pierce Blvd, O'Fallon, IL
      View Details
    • $15/mo

      O'Fallon Office/Retail Space Available

      2,500 SF office/retail space in O'Fallon Downtown District.
      109 W 1st St, O'Fallon, IL
      View Details
    • Contact for pricing

      O'Fallon Retail Space Available

      Retail space available for lease in O'Fallon, Illinois.
      207 Scott Troy Rd, O Fallon, IL
      View Details
    • Contact for pricing

      Highway 50 Executive Office Suite

      Executive office suite for rent on Highway 50.
      1660 Essex Way, O'Fallon, IL
      View Details

    FAQs

    What type of property is this?
    Land - Land near O'Fallon's sports destination and healthcare highway.
    Where is this land located?
    The property is located at 221 Rec Plex Dr O Fallon, IL.
    What are key features of this property?
    This property features: Premier location: Just 7 minutes from Four Points, a premier sports destination.; Positioned near the emerging "healthcare highway" on I‑64, offering easy access to Memorial East Hospital and St. Elizabeth’s Hospital.; Close proximity to Scott Air Force Base, a major employer.
    (315) 569-9812
    We can help!
    Listing Contact
    Tim Gearhart
    Tim Gearhart
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!