Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    Illini Dr Belleville, IL 62223

    Sponsored
    For Sale
    $547,549

    Prime Commercial Development Site in Belleville, IL

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    402
    This exceptional 16.76-acre commercial land parcel presents a unique investment opportunity in Belleville, Illinois. Located in a Tax Increment Financing (TIF) District and Enterprise Zone, this property offers significant financial incentives for developers. The site boasts convenient access to major transportation arteries, including Interstate 255 (Exit 17), and is situated just nine miles from downtown St. Louis, providing easy access to a large and diverse market. Zoned C-1, this property is ready for immediate development, with all utilities already in place. The land is priced at $0.75 per square foot, totaling $547,549. The property's advantageous location next to the Belleville UPS Distribution Center further enhances its appeal and potential for significant return on investment. The parcel's size and strategic location make it ideal for a wide range of commercial developments, offering substantial potential for growth and profitability. The APN is 07-11.0-303-034. This is a rare opportunity to acquire a fully-serviced, prime commercial site in a thriving area with substantial economic development incentives. Don't miss out on this exceptional chance to build your next commercial venture. The address is Illini Drive, Belleville, IL 62223.

    Property Features for 0 Illini Dr

    General Information

    Property type
    Land
    Lot Size
    730,066 SF

    We can help!

    Listing Contact
    Tony Smallmon
    Tony Smallmon

    Learn more

    Property Insight Report

    HighLights

    • 16.76‑acre commercial land parcel near the Belleville UPS Distribution Center.
    • Located in a Tax Increment Financing (TIF) District and Enterprise Zone.
    • Fully serviced, C‑1 zoned lot ready for development; all utilities available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Belleville
    County
    St. Clair
    State
    Illinois
    Longitude
    -90.0664927
    Latitude
    38.5406563

    Nearby Similar for Sale

    • $799,000
      5,890 SF

      Versatile Mixed-Use Commercial Building

      Multi-use commercial building in O'Fallon with live-work potential.
      101 Springfield Ct, O Fallon, IL 62269
      View Details
    • $535,000
      3.81 Acres

      Belleville Mixed-Use Property with Charm

      3,428 sq ft home with business potential on 3.81 acres.
      110 Fullerton Rd, Belleville, IL 62226
      View Details
    • $240,000
      2,926 SF

      Mixed-Use Building Near Downtown Belleville

      Two-story mixed-use property with commercial space and updated apartment.
      719 Centreville Ave, Belleville, IL 62220
      View Details
    • New
      $450,000
      5,100 SF

      Historic Belleville Loft Income Property

      Four loft units in downtown Belleville, generating income.
      511 E Main St, Belleville, IL 62220
      View Details
    • $500,000
      61,787 SF

      Belleville Mixed-Use Redevelopment Opportunity

      61,787 SF facility on 17.53 acres with redevelopment potential.
      1901 Mascoutah Ave, Belleville, IL 62220
      View Details
    • $150,000
      Pending

      Charming Belleville Duplex For Sale

      All-brick duplex with potential for investors or owner-occupants.
      204 Gilbert St, Belleville, IL 62226
      View Details
    • $149,900
      2,344 SF

      Belleville Duplex: Investment Opportunity

      Updated duplex in Belleville, ideal for investors or owner-occupants.
      619 E Mckinley St, Belleville, IL 62220
      View Details
    • $325,000
      3,400 SF

      Downtown Belleville Commercial Space

      Turnkey commercial building in the heart of Downtown Belleville.
      7 S High St, Belleville, IL 62220
      View Details
    • $600,000
      8,736 SF

      Belleville Multifamily Building with Apartments

      Well-maintained 8-unit apartment building in Belleville, Illinois.
      8612 W Main St, Belleville, IL 62223
      View Details
    • $129,900
      3,300 SF

      Belleville Residential Income Property

      Residential income property featuring multiple units in Belleville, Illinois.
      326 Portland Ave, Belleville, IL 62220
      View Details
    • $269,999
      1,246 SF

      Belleville Multifamily Investment Opportunity

      Five-unit residential building near downtown Belleville.
      208 S Charles St, Belleville, IL 62220
      View Details
    • $127,900
      1,437 SF

      Belleville Commercial Building with Equipment

      Turnkey commercial building with equipment in high-traffic Belleville location.
      507 Sherman St, Belleville, IL 62221
      View Details

    FAQs

    What type of property is this?
    Land - Prime Commercial Development Site in Belleville, IL
    Where is this land located?
    The property is located at Illini Dr Belleville, IL.
    What is the asking price?
    The asking price for this property is $547,549.
    What are key features of this property?
    This property features: 16.76-acre commercial land parcel near the Belleville UPS Distribution Center.; Located in a Tax Increment Financing (TIF) District and Enterprise Zone.; Fully serviced, C-1 zoned lot ready for development; all utilities available.
    (618) 407-4240
    Request Owner's contact information
    Illini Dr Belleville, IL 62223
    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.
    Illini Dr
    Belleville, IL 62223
    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
    Illini Dr Belleville, IL 62223
    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

    We can help!
    Listing Contact
    Tony Smallmon
    Tony Smallmon
    Real Estate License ID: IL 475120946
    (618) 407-4240
    Learn more
    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.