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    211 Main St Creve Coeur, IL 61610

    Sponsored
    For Sale
    $159,000

    1.69 Acres, B2 Zoning, High Visibility

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    Prime 1.69-acre commercial lot in Creve Coeur, Illinois, is available for development. This B2-zoned property boasts exceptional visibility on a four-lane Main Street thoroughfare, surrounded by a thriving mix of residential neighborhoods, churches, restaurants, and retail establishments. Recent improvements include updated lighting and sidewalks along Main Street. Nearby businesses include Dollar General, Lagondola Spaghetti House, and several other established enterprises. The property offers easy access and is conveniently located just seven miles from the nearest airport. This cleared lot presents a unique opportunity for developers seeking high-traffic exposure and a strong local market. The property's size and zoning allow for a variety of commercial uses, making it an attractive investment for those seeking to build a new business or expand an existing one. The area's established infrastructure and proximity to residential areas ensure a steady stream of potential customers. This is a rare opportunity to acquire a well-located, sizable commercial lot in a growing community. The asking price is $159,000.

    Property Features for 211 Main St

    General Information

    Property type
    Individual retail properties
    Lot Size
    73,616 SF

    HighLights

    • $159,000 asking price.
    • 1.69‑acre lot zoned B2.
    • Available for development with great visibility and easy access.
    • Located on a four‑lane main thoroughfare in Creve Coeur, IL, near residential, commercial, and retail properties.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Creve Coeur
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.601982120348
    Latitude
    40.644704444069

    Nearby Comparable

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      Highland & Main: Creve Coeur Land

      Prime Creve Coeur commercial land, development ready.
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      Prime Creve Coeur Industrial Land

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      1101 Wesley Rd, Creve Coeur, IL 61610
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    • $2,100,000

      40 Acres Commercial Land Available

      40 acres of commercial land near I-474 and Rt. 29.
      1101-1145 Wesley Rd, Creve Coeur, IL 61610
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    • $400,000
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      Prime M2 Zoned Industrial Land

      4 Acres, East Peoria, IL - Investment Opportunity
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      Prime East Peoria Commercial Land

      0.7-acre lot, high visibility, $540,000
      300 Camp St, East Peoria, IL 61611
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    • Contact for pricing
      13,000 SF

      Peoria Commercial Building - Huge Potential

      13,000 sq ft building, prime location, R8 zoning.
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    • $469,000
      23,684 SF

      Downtown Peoria Mixed-Use Building

      Prime Peoria location, 23,684 SF, high potential.
      2119 Adams St, Peoria, IL 61602
      View Details

    FAQs

    What type of property is this?
    Individual retail property - 1.69 Acres, B2 Zoning, High Visibility
    Where is this individual retail property located?
    The property is located at 211 Main St Creve Coeur, IL.
    What is the asking price?
    The asking price for this property is $159,000.
    What are key features of this property?
    This property features: $159,000 asking price.; 1.69-acre lot zoned B2.; Available for development with great visibility and easy access.
    Request Owner's contact information
    211 Main St Creve Coeur, IL 61610
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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.

    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
    211 Main St Creve Coeur, IL 61610
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