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    Retail Suites Available For Lease Title is generated by Realmo AI

    811 S Belt W, Belleville, IL 62220

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    Two retail suites available, suitable for various businesses.

    Type:Retail, Office
    Property size:
    6,450 SF
    Added:
    Oct 25, 2023
    Days on Market:
    930
    Last Refresh:
    Mar 16 at 10:27 am

    Property Features for 811 S Belt W

    General Information

    Standard status
    Active
    Size
    6,450 SF
    Property subtype
    Retail, Office

    Building Details

    Year Built
    1975

    Spaces For Lease

    at 811 S Belt W Contact us

    Suite 811-813 $6 /Mo

    Size
    6,450 SF
    Type
    Retail, Office
    Suite 811-813 (combined 6,450 SF) is a former event venue and fitness studio. Suites...
    show more
    Contact us

    Suite 823 $12 /Mo

    Size
    800 SF
    Type
    Retail, Office
    Suite 823 (800 SF) is a former salon and barbershop with three hot and cold water...
    show more
    Contact us

    We can help!

    Listing Contact
    Mike Durbin
    Mike Durbin

    Listing agent Mike Durbin License #IL 475167618

    Listing office Barbermurphy Group

    Listing date Oct 25, 2023

    Source Crexi

    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

    HighLights

    • High Visibility: Building visible from Route 15 with an ADT of 20,100.
    • Flexible Space: Suite 811‑813 can be demised down to 2,725 SF and 3,725 SF.
    • Former Salon/Barbershop: Suite 823 (800 SF) includes three hot/cold water hookups and washer/dryer hookups.
    • Versatile Use: Suite 811‑813 profiles well for workout facility, martial arts, or dance studio.
    • Suite 823 includes employee break area and separate kitchenette/dining prep.
    • Strategic Location: Located on IL Route 13 (S Belt West) off the roundabout to IL Route 15.

    Overview

    Two retail suites are available for lease. Suite 823, formerly a salon and barbershop, offers 800 square feet and includes three hot and cold water hook-ups, washer and dryer hook-ups, an employee break area, and a separate kitchenette and dining prep area. Suite 811-813, a combined 6,450 square feet, previously served as an event venue and fitness studio. This suite can be divided into 2,725 square feet and 3,725 square feet configurations. The space is well-suited for a workout facility, martial arts studio, or dance studio. The building is located on IL Route 13 (S Belt West), near the roundabout to IL Route 15, and is visible from Route 15, which has an average daily traffic count of 20,100. The property is located outside the city limits of Belleville.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Belleville
    County
    St. Clair
    State
    Illinois
    Longitude
    -89.9914748
    Latitude
    38.5374951

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    FAQs

    What type of property is this?
    Retail space - Two retail suites available, suitable for various businesses.
    Where is this retail space located?
    The property is located at 811 S Belt W Belleville, IL.
    What are key features of this property?
    This property features: High Visibility: Building visible from Route 15 with an ADT of 20,100.; Flexible Space: Suite 811‑813 can be demised down to 2,725 SF and 3,725 SF.; Former Salon/Barbershop: Suite 823 (800 SF) includes three hot/cold water hookups and washer/dryer hookups.
    (502) 767-4199 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Mike Durbin
    Mike Durbin
    Real Estate License ID: IL 475167618
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    811 S Belt W, Belleville, IL 62220
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