Shopping Center with Development
4510 N Illinois Street, Swansea, IL 62226
For Sale
$980,000
Commercial Sale, Swansea, IL
Property Size6,000 SF
Lot Size2.28 Acres
Price / SF$163.33
Days on Market136
Property Features for 4510 N Illinois Street
General Information
Property type
Property subtype
Appliances
Subdivision
Directions
Standard status
APN
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Cooling system
Water source
Amenities
signage
Building Details
Year built
Floors in Building
Flooring type
Building materials
Listing Agency:
Coldwell Banker Brown Realtors · Coldwell Banker Real Estate
(618) 632-4700
Listed By:
Annmarie Pickering · License IL #475173204
(808) 866-4840
Added: Jun 29
Changed: Oct 18
Last Checked: Nov 11 at 2:06AM
MLS# 25069616
Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Millstone Plaza combines a 6,000-square-foot brick retail building with four 1,500-square-foot units on approximately 0.96 acres. The building was constructed in 2003 and includes carpeted flooring, multi-unit cooling, a water heater, and public water service.
The offering also includes a developed 1.51-acre lot approved for 9 additional units, bringing the combined land area to 2.28 acres. Property signage is positioned along 95 feet of frontage on Smelting Works, with permanent signage on Route 159. The building and developed lot are being offered together, with the seller willing to consider separating them.
The offering also includes a developed 1.51-acre lot approved for 9 additional units, bringing the combined land area to 2.28 acres. Property signage is positioned along 95 feet of frontage on Smelting Works, with permanent signage on Route 159. The building and developed lot are being offered together, with the seller willing to consider separating them.
Key Highlights
- 6,000 SF retail building with four 1,500 SF units
- Developed 1.51‑acre lot approved for 9 additional units
- Combined land area of 2.28 acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,951
Cap Rate
6.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,199,020
$1.2M
Cap Rate 7%
$856,443
$856.4K
Cap Rate 9%
$666,122
$666.1K
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$93.6K $15.60/SF
− Vacancy
−$8.0K −$1.33/SF
EGI
$85.6K $14.27/SF
− OpEx
−$25.7K −$4.28/SF
NOI
$60.0K $9.99/SF
Area
St. Clair County, IL
Vacancy
8.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,199,020
Cap Rate 7%
$856,443
Cap Rate 9%
$666,122
Alternative Uses
Best Use
Retail
$856.4K
$749.4K – $999.2K
NOI $59,951 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,429 @ 7.0% cap · market cap 10.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
670
Businesses Nearby
126k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 72%
Shops & Services 23%
Dining 5%
Target
Superstores
91,003 visits/mo
0.3 miles
Huck's
Shops & Services
23,351 visits/mo
0.1 miles
PNC Bank
Shops & Services
5,974 visits/mo
0.2 miles
Bandana's Bar-B-Q
Dining
5,721 visits/mo
0.1 miles
Demographics for 62226, IL
29,156
Population
13,285
Households
2.2
Avg Household Size
42
Median Age
33%
College-Educated
94%
High-School Grad
13.9 sq mi
ZIP Area
2,098
Density / Sq Mi
$66,018
Median Household Income
$43,284
Median Earnings
$946
Median Rent
$162,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Winchester Plaza — 4660 N Illinois St, Fairview Heights, IL 62208
Frequently Asked Questions
What type of property is this?
Shopping center - Brick retail center with multiple suites and an approved site for additional units.
Where is this shopping center located?
The property is located at 4510 N Illinois Street Swansea, IL.
What is the asking price?
The asking price for this property is $980,000.
What are key features of this property?
This property features: 6,000 SF retail building with four 1,500 SF units; Developed 1.51‑acre lot approved for 9 additional units; Combined land area of 2.28 acres
