Building Details

Buildings 1

Listing Agency: Tammy Mitchell Hines & Co.

Listed By: Tammy Hines · License #471000040 Show Phone

Added: Oct 30 Changed: Oct 31 Last Checked: Oct 31 at 3:06PM

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MLS# 26068536

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Investment Insights

Based on property information with market context.

This storefront property contains approximately 2,486+/- square feet on a 0.13+/- acre corner parcel. The building has forced-air heating and central air conditioning, and public utilities are available. The sale is AS-IS.

At Milton Road and Richmond Lane in Alton, the site has approximately 8K vehicles passing daily on Milton Road. The property is zoned C-2, General Commercial under the City of Alton; buyers should confirm permitted uses and business requirements with the city.

Key Highlights

• 2,486+/- square foot commercial building
• 0.13+/- acre corner lot
• C‑2, General Commercial zoning under the City of Alton

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$10,271

Cap Rate

6.85%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$205,420 $205.4K

Cap Rate 7%

$146,729 $146.7K

Cap Rate 9%

$114,122 $114.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,486 SF

Gross rent

$15.1K $6.06/SF

− Vacancy

−$392 −$0.16/SF

EGI

$14.7K $5.90/SF

− OpEx

−$4.4K −$1.77/SF

NOI

$10.3K $4.13/SF

Area

Madison County, IL

Vacancy

2.60%

Lease Rate

$6.06 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$205,420

Cap Rate 7%

$146,729

Cap Rate 9%

$114,122

Alternative Uses

Best Use

Retail

$435.8K

$381.4K – $508.5K (±1% cap)

NOI $30,509 @ 7.0% cap · market cap 20.34%

Second Best

Industrial

$146.7K

$128.4K – $171.2K (±1% cap)

NOI $10,271 @ 7.0% cap · market cap 6.85%

Theoretical Best

Office A

$677.6K

$592.9K – $790.6K (±1% cap)

NOI $47,433 @ 7.0% cap · market cap 31.62%

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

Intoxalock Ignition Interlock Building Supply Custom Sounds & Tint ... Electronics & Wireless Store Five Stars Roofing Roofing Company

Suggested Use

Top Pick Real Estate Agency Law Firm Spa & Massage Center Nail Salon Skin Care Clinic HVAC Service

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

Lease Details

8,000 VPD

Traffic count

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

181

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 62002, IL

30,176

Population

14,832

Households

2

Avg Household Size

41

Median Age

24%

College-Educated

92%

High-School Grad

41.3 sq mi

ZIP Area

731

Density / Sq Mi

$57,851

Median Household Income

$38,120

Median Earnings

$941

Median Rent

$114,300

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - C-2 general commercial zoning supports a range of uses subject to applicable city requirements.

Where is this storefront property located?

The property is located at 912 Milton Road Alton, 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: 2,486+/- square foot commercial building; 0.13+/- acre corner lot; C‑2, General Commercial zoning under the City of Alton