Restaurant Building on Carlyle
For Sale
Contact for pricing
601 Carlyle Avenue, Belleville, IL 62221
2,600 SF restaurant building for sale on Carlyle Avenue.
Property Size2,600 SF
Price / SF$115
Days on Market3195
Property Features for 601 Carlyle Avenue
General Information
Standard status
Active
Size
2,600 SF
Total Parking Spaces
38
Property subtype
Retail
Zoning
C-2
Building Details
Year Built
1973
Year Renovated
2017
Buildings
1
Stories
1
Listing Agency:
Barbermurphy Group
Listed By:
John Eichenlaub · License #IL 471004100
(618) 570-8344
Source:
Crexi
Added: Jan 17, 2018
Changed: Oct 9
Last Checked: Oct 16 at 8:32AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,600 square foot building, formerly an IHOP restaurant, is available for sale. It is situated in a high-visibility, high-traffic area with an average daily traffic count of 17,500 on Carlyle Avenue. The property presents an opportunity for conversion to office or retail use. All equipment, with the exception of leased equipment, is included in the sale. The building underwent a partial rehabilitation in 2017.
Key Highlights
- High visibility location with 17,500 ADT on Carlyle Ave.
- 2,600 SF building suitable for restaurant, office, or retail use.
- All restaurant equipment included in the sale (except leased equipment).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,979
Cap Rate
8.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$519,580
$519.6K
Cap Rate 7%
$371,129
$371.1K
Cap Rate 9%
$288,656
$288.7K
Market Conditions
NOI Build-Up for 2,600 SF
Gross rent
$40.6K $15.60/SF
− Vacancy
−$3.4K −$1.33/SF
EGI
$37.1K $14.27/SF
− OpEx
−$11.1K −$4.28/SF
NOI
$26.0K $9.99/SF
Area
St. Clair County, IL
Vacancy
8.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$519,580
Cap Rate 7%
$371,129
Cap Rate 9%
$288,656
Alternative Uses
Best Use
Specialty Retail
$506.0K
$442.7K – $590.3K
NOI $35,419 @ 7.0% cap · market cap 11.85%
Second Best
Retail
$371.1K
$324.7K – $433.0K
NOI $25,979 @ 7.0% cap · market cap 8.69%
Theoretical Best
Office A
$615.5K
$538.6K – $718.1K
NOI $43,086 @ 7.0% cap · market cap 14.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
302
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 62221, IL
29,039
Population
12,460
Households
2.3
Avg Household Size
38
Median Age
37%
College-Educated
96%
High-School Grad
35.0 sq mi
ZIP Area
830
Density / Sq Mi
$78,619
Median Household Income
$45,353
Median Earnings
$1,078
Median Rent
$207,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - 2,600 SF restaurant building for sale on Carlyle Avenue.
Where is this conventional restaurant located?
The property is located at 601 Carlyle Avenue Belleville, IL.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: High visibility location with 17,500 ADT on Carlyle Ave.; 2,600 SF building suitable for restaurant, office, or retail use.; All restaurant equipment included in the sale (except leased equipment).
