Triplex with Current Rental
For Sale
$350,000
25 Blackburn Mnr, Millstadt, IL 62260
Three-unit residential income property near local amenities with established rents and access to surrounding areas.
Property Size1,256 SF
Price / SF$278.66
Days on Market239
Property Features for 25 Blackburn Mnr
General Information
Standard status
Active
Size
1,256 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,362
Listing Agency:
Century 21 Advantage
(618) 979-7115
Listed By:
Robert Knysak · License #475170786
(618) 979-7115
Source:
Exprealty
Added: Jan 5
Changed: Aug 31
Last Checked: Aug 31 at 12:39AM
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 Century 21 Advantage
Investment Insights
Based on property information with market context.
This Millstadt triplex contains three residential units, each with an established monthly rent. The property is being sold as-is, providing a straightforward opportunity to acquire a small multifamily asset with existing rental activity. Its configuration supports residential income use within a compact three-unit property.
Located near local amenities, the property also offers access to surrounding areas. The address is 25 Blackburn Mnr in Millstadt, Illinois. Current rental activity provides an operating history for review, while the as-is sale condition should be evaluated as part of the acquisition process.
Located near local amenities, the property also offers access to surrounding areas. The address is 25 Blackburn Mnr in Millstadt, Illinois. Current rental activity provides an operating history for review, while the as-is sale condition should be evaluated as part of the acquisition process.
Key Highlights
- Three‑unit triplex configuration
- Established monthly rents across all three units
- Property offered for sale as‑is
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
NOI $10,358 @ 7.0% cap · market cap 2.96%
Second Best
Apartment 5plus
$133.3K
$116.6K – $155.5K
NOI $9,331 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$297.3K
$260.2K – $346.9K
NOI $20,814 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential income property near local amenities with established rents and access to surrounding areas.
Where is this triplex located?
The property is located at 25 Blackburn Mnr 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‑unit triplex configuration; Established monthly rents across all three units; Property offered for sale as‑is
