Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    2423 Old Country Inn Dr Caseyville, IL 62232

    • Hospitality properties
    • 39,470 SF
    • 2.25 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hospitality properties

    Property Details for 2423 Old Country Inn Dr

    Year built
    1990
    Lot size
    2.25 lot acres
    Property size
    39,470 SF
    Property type
    Hospitality properties
    Property subtype
    Hotels

    Description

    This fee-simple Days Inn & Suites by Wyndham hotel presents a compelling value-add investment opportunity. Located at 2423 Old Country Inn Drive in Caseyville, Illinois, this two-story, 39,470-square-foot property boasts 84 keys and sits on a 2.25-acre lot. Built in 1990 and renovated in 2016, the hotel benefits from its convenient location off Interstate 64, experiencing over 80,000 vehicles daily. Amenities include an outdoor pool, on-site guest laundry, and ample parking. Guest rooms feature modern conveniences such as flat-screen televisions, microwaves, and mini-refrigerators

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Caseyville
    County
    St. Clair
    State
    Illinois
    Longitude
    -90.0488
    Latitude
    38.6129

    Comparable in this City

    • Value Estimation
      $1,395,000
      17,548 SF

      2423 Old Country Inn Dr

      HOTEL/MOTEL • 17,548 SF
      2423 Old Country Inn Dr, Caseyville, IL 62232-2305
      View Details
    • Value Estimation
      $1,230,000
      12,360 SF

      8950 Tucker Dr

      HOTEL/MOTEL • 12,360 SF
      8950 Tucker Dr, Caseyville, IL 62232-2332
      View Details
    • Value Estimation
      $865,000
      6,883 SF

      8787 Sasak Pl

      HOTEL/MOTEL • 6,883 SF
      8787 Sasak Pl, Caseyville, IL 62232-2154
      View Details
    • Value Estimation
      $615,000
      13,545 SF

      2431 Old Country Inn Dr

      HOTEL/MOTEL • 13,545 SF
      2431 Old Country Inn Dr, Caseyville, IL 62232-2305
      View Details
    • Value Estimation by Request
      0.69 Acres

      I-64 And Il-157

      Land • 0.69 Acres
      I-64 And Il-157, Mulberry Grove, IL 62232
      View Details
    • Value Estimation by Request
      164.30 Acres

      Devils Hole Rd

      INDUSTRIAL - VACANT LAND • 164.30 Acres
      Devils Hole Rd, Caseyville, IL 62232
      View Details

    Similar Nearby for Sale

    • $400,000

      Cleared Land Ready for Construction

      2.09 acre site for sale or build to suit.
      5315 N Illinois St, Fairview Heights, IL 62232
      View Details
    • Contact for pricing
      0.86 Acres

      Caseyville Land Ready For Development

      Vacant land with development potential in Caseyville, Illinois.
      1735 Cherokee St, Caseyville, IL 62232
      View Details
    • $79,900
      0.63 Acres

      Spacious Double Lot in Tanglewood

      Double lot in Tanglewood neighborhood, build your dream home!
      8038 Tahoe Rdg, Caseyville, IL 62232
      View Details
    • $595,000
      3,240 SF

      Caseyville 8-Unit Apartment Complex

      Well-maintained 8-unit apartment complex in Caseyville, Illinois.
      19 S Long St, Caseyville, IL 62232
      View Details
    • $425,000
      4,764 SF

      Caseyville Office/Warehouse For Sale

      4,764 SF Office/Warehouse, Excellent Location
      8853 Petroff Dr, Caseyville, IL 62232
      View Details
    • $60,000
      Pending

      Wooded Land Near Amenities

      Two wooded lots near shopping, freeways, and schools.
      1078 E Ofallon Dr, O Fallon, IL 62232
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      1,400 SF

      Fairview Heights Retail/Office Suites

      Office and retail suites available in established Fairview Heights center.
      4600-4660 N Illinois St, Fairview Heights, IL 62232
      View Details
    • $12 SF/Yr
      14,742 SF

      Retail Space in High-Traffic Area

      14,742 SF retail space with warehouse and high visibility.
      6100-6108 N Illinois St, Fairview Heights, IL 62232
      View Details
    • Contact for pricing
      1,950 SF

      Retail Space with Drive-Thru Potential

      Retail spaces available in top-ranked Fairview Heights power center.
      5909 N Illinois St, Fairview Heights, IL 62232
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space in Fairview Heights

      2000 SF retail space with excellent visibility and access.
      5909-5961 N Illinois St, Fairview Heights, IL 62232
      View Details
    • $1,400,000
      1,716 SF

      Former Medical Office For Lease

      1,716 SF medical office space available for lease.
      5400 N Illinois St, Fairview Heights, IL 62232
      View Details
    • $9,000 /Mo

      Warehouse with Rail Spur For Lease

      8.33 acres with warehouse and rail spur for lease.
      719 N 1St St, E St Louis, IL 62232
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2423 Old Country Inn Dr
    Caseyville, IL 62232
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.