Automotive Retail Center For
For Sale
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2347 OLD COLLINSVILLE RD, Belleville, IL 62221
Automotive retail center with flex space, storage, and garage.
Property Size9,303 SF
Price / SF$79.82
Days on Market82
Property Features for 2347 OLD COLLINSVILLE RD
General Information
Standard status
Active
Size
9,303 SF
Class
B
Property subtype
Retail, Industrial
Occupancy
100%
Lease Type
Modified Gross
Net Operating Income
$63,114
Building Details
Year Built
2003
Buildings
3
Units
7
Tenancy
Multi
Listing Agency:
Klamen Commercial Advisors
Listed By:
Jake Klamen · License #MO 2019001177
Source:
Crexi
Added: May 22
Changed: Aug 7
Last Checked: Aug 10 at 10:14AM
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 Klamen Commercial Advisors
Investment Insights
Based on property information with market context.
This property, currently operating as an automotive retail center, offers a combination of retail and industrial features. It includes 9,303 square feet of retail flex space divided into 7 suites, along with 6 self-storage units totaling 1,440 square feet, and a 900 square foot garage.
Key Highlights
- Rare combination of retail storefront aesthetic with industrial‑grade functionality.
- 9,303 square feet of retail flex space (7 suites).
- Currently operating as an automotive retail center.
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
$59,816
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
8.06%
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%
$1,196,320
$1.2M
Cap Rate 7%
$854,514
$854.5K
Cap Rate 9%
$664,622
$664.6K
Market Conditions
NOI Build-Up for 9,303 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
$90.4K $9.72/SF
− Vacancy
−$5.0K −$0.53/SF
EGI
$85.5K $9.19/SF
− OpEx
−$25.6K −$2.76/SF
NOI
$59.8K $6.43/SF
Area
St. Clair County, IL
Vacancy
5.50%
Lease Rate
$9.72 /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%
$1,196,320
Cap Rate 7%
$854,514
Cap Rate 9%
$664,622
Alternative Uses
Best Use
Retail
$1.33M
$1.16M – $1.55M
NOI $92,954 @ 7.0% cap · market cap 12.52%
Second Best
Flex RnD
$1.20M
$1.05M – $1.40M
NOI $83,901 @ 7.0% cap · market cap 11.30%
Theoretical Best
Office A
$2.20M
$1.93M – $2.57M
NOI $154,165 @ 7.0% cap · market cap 20.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
270
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 Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail property - Automotive retail center with flex space, storage, and garage.
Where is this retail property located?
The property is located at 2347 OLD COLLINSVILLE RD Belleville, IL.
What is the asking price?
The asking price for this property is $742,523.
What are key features of this property?
This property features: Rare combination of retail storefront aesthetic with industrial‑grade functionality.; 9,303 square feet of retail flex space (7 suites).; Currently operating as an automotive retail center.
