8044 N Illinois St, Caseyville, IL 62232

Building Details

Year Built 1951 More

Buildings 3 More

Stories 2 More

Listing Agency: Barbermurphy Group

Listed By: Matt Barriger · License IL #475148523 Show Phone

Source: Crexi

Added: Feb 13 Changed: Nov 11 Last Checked: Nov 10 at 6:28AM

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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 Barbermurphy Group

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Investment Insights

Based on property information with market context.

This converted residential property features a 2,000-square-foot, two-story office building. The main level includes two offices, a reception area, a conference room, a restroom, and a full kitchen. The second story comprises three offices and a restroom. The lower level provides storage space, a wash basin, a sump pump, and houses the HVAC system, which is three years old, and a water heater, which is one year old. The roof was replaced in 2012. The property also includes two outbuildings. Building 1 offers 1,200 square feet of space with two 8-foot drive-in doors, a hot water heater, boiler floor heat, a restroom with a shower, air compressor lines, and a 12x12-foot lower-level storm shelter. Building 2 features two 8-foot overhead drive-in doors, shelving, and a concrete floor. This setup is suitable for a construction or contractor yard. The property is located on the north-south thoroughfare of Illinois 159/North Illinois Street, connecting St. Clair and Madison County, and is situated 3 miles north of Interstate 64. The total property size is 4,400 square feet.

Key Highlights

• 1,200 SF outbuilding featuring 2‑8' drive‑in doors, H/W heater, boiler floor heat, restroom w/shower, air compressor lines and 12’x12’ lower level storm shelter.
• Located on North South Thoroughfare of Illinois 159/North Illinois St. connecting St. Clair and Madison County, 3 miles North of Interstate 64.
• Converted 2,000 SF 2‑story residential building into office space with 5 offices, reception area, conference room, restroom & full kitchen.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$44,550

Cap Rate

8.93%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$891,000 $891.0K

Cap Rate 7%

$636,429 $636.4K

Cap Rate 9%

$495,000 $495.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,400 SF

Gross rent

$79.2K $18.00/SF

− Vacancy

−$7.9K −$1.80/SF

EGI

$71.3K $16.20/SF

− OpEx

−$26.7K −$6.07/SF

NOI

$44.6K $10.13/SF

Area

St. Clair County, IL

Vacancy

10.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$891,000

Cap Rate 7%

$636,429

Cap Rate 9%

$495,000

Alternative Uses

Best Use

Office B

$728.6K

$637.6K – $850.1K (±1% cap)

NOI $51,005 @ 7.0% cap · market cap 10.22%

Second Best

Mixed Use

$636.4K

$556.9K – $742.5K (±1% cap)

NOI $44,550 @ 7.0% cap · market cap 8.93%

Theoretical Best

Office A

$1.04M

$911.4K – $1.22M (±1% cap)

NOI $72,915 @ 7.0% cap · market cap 14.61%

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

Office buildings

Suggested Use

Top Pick Real Estate Agency Restaurant HVAC Service Parking Lot & Garage Electrical Service Kitchen & Bath Showroom

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

52

Businesses Nearby

Explore this area Business Placement

Demographics for 62232, IL

7,547

Population

3,082

Households

2.4

Avg Household Size

41

Median Age

22%

College-Educated

93%

High-School Grad

12.8 sq mi

ZIP Area

590

Density / Sq Mi

$64,268

Median Household Income

$42,485

Median Earnings

$1,077

Median Rent

$114,800

Median Home Value

Market

Properties on Market for Mixed-use properties in St. Clair County

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - Two-story office building with outbuildings, ideal for contractors.

Where is this mixed-use property located?

The property is located at 8044 N Illinois St Caseyville, IL.

What is the asking price?

The asking price for this property is $499,000.

What are key features of this property?

This property features: 1,200 SF outbuilding featuring 2‑8' drive‑in doors, H/W heater, boiler floor heat, restroom w/shower, air compressor lines and 12’x12’ lower level storm shelter.; Located on North South Thoroughfare of Illinois 159/North Illinois St. connecting St. Clair and Madison County, 3 miles North of Interstate 64.; Converted 2,000 SF 2‑story residential building into office space with 5 offices, reception area, conference room, restroom & full kitchen.