509 Pearl Street, Godfrey, IL 62035
Commercial Sale - Godfrey, IL
- Added:
- Jun 15, 2026
- Days on Market:
- 8
- Last Refresh:
- Jun 22 at 7:06 pm
Property Features for 509 Pearl Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Exterior features
- Fencing
- Fencing
- Fenced
- Appliances
- Dryer, Washer/Dryer Combo
- Standard status
- Active
- APN
- 24-2-01-23-03-302-013
- Size
- 714 SF
- Lot size
- 0.92 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 1540
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1940
- Flooring type
- Vinyl
- Building materials
- Vinyl Siding
- Architectural style
- Other
Listing agent Whitney McIver License #475114662 (618) 531-2256
Listing office Tarrant and Harman Real Estate and Auction Co 3644 Fosterburg Rd., Alton, IL (618) 433-9436
Listing date Jun 15, 2026
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.
HighLights
- Former one‑bed, one‑bath cottage built in 1940, with vinyl siding and vinyl flooring
- Converted/updated for commercial use, with currently residential zoning and potential for business with a special use permit
- Capped plumbing in place from earlier hair salon use, plus washer/dryer combo and dryer included
- Heating and cooling: forced air heating and central air
- Large paved, fenced parking area in back with space for approximately 8–10 vehicles
- Fenced exterior features for added privacy and security
Overview
The property is currently zoned residential, and the listing notes that it may accommodate a variety of business types with a special use permit. A large, paved and fenced parking area is located in the back, with space for approximately 8 to 10 vehicles, which can be helpful for customer access and off-street convenience.
For the right buyer, this could be a flexible small-business footprint for uses such as a retail boutique, insurance office, law practice, creative studio, or other client-facing operation that can work through the special use permit path. Pre-approved buyers only are requested, with local financing preferred.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $17.1k | $24.00 |
| − Vacancy | −$2.1k | −$2.88 |
| EGI | $15.1k | $21.12 |
| − OpEx | −$3.8k | −$5.28 |
| NOI | $11.3k | $15.84 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Godfrey
- County
- Madison
- State
- Illinois
- Longitude
- -90.1884192
- Latitude
- 38.9576361
