651 S Madison Street, Lebanon, IL 62254

Listing Agency: RE/MAX Preferred

Listed By: Linda Miller · License IL #475145158 Show Phone

Source: Crexi

Added: Oct 14 Changed: Nov 10 Last Checked: Nov 12 at 7:53AM

Report an Issue

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 Preferred

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

The retail facility contains 11,742 square feet and sits on 2.05 +/- acres. Furniture, fixtures, and equipment are included in the offering.

At 651 S. Madison Street in Lebanon, the property fronts the S. Madison Street corridor, identified as IL Rte. 4 and Hwy 50. It is 3 miles north of I-64 via IL Rte. 4, 11 miles south of I-70 via the same route, and 32 minutes from downtown St. Louis, Missouri.

Key Highlights

• 11,742‑square‑foot retail facility
• 2.05 +/- acres
• Furniture, fixtures, and equipment included

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$117,324

Cap Rate

7.85%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,346,480 $2.3M

Cap Rate 7%

$1,676,057 $1.7M

Cap Rate 9%

$1,303,600 $1.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 11,742 SF

Gross rent

$183.2K $15.60/SF

− Vacancy

−$15.6K −$1.33/SF

EGI

$167.6K $14.27/SF

− OpEx

−$50.3K −$4.28/SF

NOI

$117.3K $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%

$2,346,480

Cap Rate 7%

$1,676,057

Cap Rate 9%

$1,303,600

Alternative Uses

Best Use

Retail

$1.68M

$1.47M – $1.96M (±1% cap)

NOI $117,324 @ 7.0% cap · market cap 7.85%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.78M

$2.43M – $3.24M (±1% cap)

NOI $194,583 @ 7.0% cap · market cap 13.02%

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

Don’s IGA Grocery & Convenience Store Coin Cloud Bitcoin ... Atm Western Union Bank

Suggested Use

Top Pick Real Estate Agency Law Firm Auto Parts Store Hair Salon Auto Repair Shop Spa & Massage Center

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

Location Intelligence

Trade Area within ½ mile

252

Businesses Nearby

Explore this area Business Placement

Demographics for 62254, IL

6,503

Population

2,725

Households

2.4

Avg Household Size

36

Median Age

37%

College-Educated

92%

High-School Grad

40.9 sq mi

ZIP Area

159

Density / Sq Mi

$89,500

Median Household Income

$36,381

Median Earnings

$1,100

Median Rent

$196,600

Median Home Value

Market

Average Price Trend$/SF for Retail space in St. Clair County, IL

$159 Jul

$112 Aug

$108 Sep

$110 Oct

Properties on Market for Retail space in St. Clair County

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Frequently Asked Questions

What type of property is this?

Retail space - The property includes furniture, fixtures, and equipment alongside its retail space.

Where is this retail space located?

The property is located at 651 S Madison Street Lebanon, IL.

What is the asking price?

The asking price for this property is $1,495,000.

What are key features of this property?

This property features: 11,742‑square‑foot retail facility; 2.05 +/- acres; Furniture, fixtures, and equipment included