Corner Retail and Office
For Sale
$150,000
601 Range Lane, Cahokia, IL 62206
Concrete block building on a high-visibility corner with on-site paved parking and a full basement.
Property Size576 SF
Price / SF$260.42
Days on Market153
Property Features for 601 Range Lane
General Information
Standard status
Active
Size
576 SF
Property subtype
Commercial
Additional Details
Corner Location
Yes
Amenities
full basement
newer furnace and central air
Building Details
Year Built
1954
Buildings
1
Stories
1
Building Size
576 SF
Construction
concrete block
Listing Agency:
RE/MAX Results Realty
(618) 581-2794
Listed By:
Star Harris · License #475.189193
(618) 581-2794
Source:
Century21laclede
Added: Mar 25
Changed: Aug 23
Last Checked: Aug 22 at 1:04PM
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 RE/MAX Results Realty
Investment Insights
Based on property information with market context.
This versatile commercial building is positioned on a high-visibility corner in Cahokia. The 576-square-foot concrete block structure is suited for retail, service-based businesses, or office use, and it includes existing trade fixtures from a prior salon operation. A full basement adds supplemental space for storage or other operational needs, and the property features updated mechanicals, including a newer furnace and central air.
The property sits on a paved lot that provides on-site parking for clients and staff. It is also described as being within walking distance of the local high school.
The building’s interior configuration supports multiple neighborhood-serving uses, with the added convenience of dedicated storage space in the basement and ready-to-operate trade fixtures.
The property sits on a paved lot that provides on-site parking for clients and staff. It is also described as being within walking distance of the local high school.
The building’s interior configuration supports multiple neighborhood-serving uses, with the added convenience of dedicated storage space in the basement and ready-to-operate trade fixtures.
Key Highlights
- 576 sq ft concrete block commercial building on a high‑visibility corner in Cahokia
- Versatile space suitable for retail, service‑based businesses, or office use; previously operated as a salon
- Includes existing trade fixtures from prior use
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
$5,755
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
3.84%
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%
$115,100
$115.1K
Cap Rate 7%
$82,214
$82.2K
Cap Rate 9%
$63,944
$63.9K
Market Conditions
NOI Build-Up for 576 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
$9.0K $15.60/SF
− Vacancy
−$764 −$1.33/SF
EGI
$8.2K $14.27/SF
− OpEx
−$2.5K −$4.28/SF
NOI
$5.8K $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 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%
$115,100
Cap Rate 7%
$82,214
Cap Rate 9%
$63,944
Alternative Uses
Best Use
Retail
$82.2K
$71.9K – $95.9K
NOI $5,755 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$136.4K
$119.3K – $159.1K
NOI $9,545 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
27k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 51%
Groceries 36%
Dining 8%
Electronics 6%
MotoMart
Shops & Services
12,514 visits/mo
0.5 miles
Aldi
Groceries
9,767 visits/mo
0.4 miles
Pizza Hut
Dining
2,127 visits/mo
0.5 miles
Boost Mobile
Electronics
1,514 visits/mo
0.5 miles
Valvoline Instant Oil Change
Shops & Services
1,471 visits/mo
0.4 miles
Demographics for 62206, IL
12,929
Population
6,586
Households
2
Avg Household Size
34
Median Age
12%
College-Educated
86%
High-School Grad
14.5 sq mi
ZIP Area
892
Density / Sq Mi
$39,520
Median Household Income
$27,611
Median Earnings
$1,021
Median Rent
$57,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Concrete block building on a high-visibility corner with on-site paved parking and a full basement.
Where is this retail space located?
The property is located at 601 Range Lane Cahokia, IL.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: 576 sq ft concrete block commercial building on a high‑visibility corner in Cahokia; Versatile space suitable for retail, service‑based businesses, or office use; previously operated as a salon; Includes existing trade fixtures from prior use
