Building Details

Year Built 1979

Listing Agency: Century 21 Advantage

Listed By: Robert Knysak · License #475170786 Show Phone

Source: Nations-network

Added: Sep 10 Changed: Sep 14 Last Checked: Sep 17 at 5:37AM

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Investment Insights

Based on property information with market context.

This multifamily property contains three residential units within a 1,256-square-foot building constructed in 1979. The property is being sold as-is and is currently configured as an income-producing residential asset.

Located at 25 Blackburn Manor in Millstadt, Illinois, the property is near local amenities and provides access to surrounding areas. The three-unit layout offers a defined multifamily configuration for residential income use.

Key Highlights

• Three residential units in one multifamily property
• 1,256‑square‑foot building
• Constructed in 1979

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

$10,358

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

2.96%

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%

$207,160 $207.2K

Cap Rate 7%

$147,971 $148.0K

Cap Rate 9%

$115,089 $115.1K

Market Conditions

NOI Build-Up for 1,256 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

$15.8K $12.60/SF

− Vacancy

−$1.0K −$0.82/SF

EGI

$14.8K $11.78/SF

− OpEx

−$4.4K −$3.53/SF

NOI

$10.4K $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%

$207,160

Cap Rate 7%

$147,971

Cap Rate 9%

$115,089

Alternative Uses

Best Use

Multifamily LT 5

$148.0K

$129.5K – $172.6K (±1% cap)

NOI $10,358 @ 7.0% cap · market cap 2.96%

Second Best

Apartment 5plus

$133.3K

$116.6K – $155.5K (±1% cap)

NOI $9,331 @ 7.0% cap · market cap 2.67%

Theoretical Best

Office A

$297.3K

$260.2K – $346.9K (±1% cap)

NOI $20,814 @ 7.0% cap · market cap 5.95%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm HVAC Service Electrical Service Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Location Intelligence

Trade Area within ½ mile

196

Businesses Nearby

Explore this area Business Placement

Demographics for 62260, IL

7,162

Population

2,863

Households

2.5

Avg Household Size

46

Median Age

31%

College-Educated

98%

High-School Grad

43.9 sq mi

ZIP Area

163

Density / Sq Mi

$93,929

Median Household Income

$52,766

Median Earnings

$1,000

Median Rent

$229,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Triplex - Income-producing residential property offered as-is in Millstadt with access to surrounding areas.

Where is this triplex located?

The property is located at 25 Blackburn Manor Millstadt, IL.

What is the asking price?

The asking price for this property is $350,000.

What are key features of this property?

This property features: Three residential units in one multifamily property; 1,256‑square‑foot building; Constructed in 1979