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    Property profile & analytics

    218 Main St Belleville, IL 62220

    • Office Properties & Spaces
    • 47,942 SF
    • 0.25 lot acres
    For Sale
    View listing
    $1,950,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Thompson Designers Inc / Structural Engineer
    • Precision Practice Management / Medical Billing Service / Professional Services
    • Celestial Health & Wellness LLC / Alternative Medicine Practice / Spa & Massage Center

    Property Details for 218 Main St

    Lot size
    0.25 lot acres
    Property size
    47,942 SF
    Property type
    Office Properties & Spaces

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Belleville
    County
    St. Clair
    State
    Illinois
    Longitude
    -89.9873
    Latitude
    38.5135

    Comparable in this City

    • Value Estimation by Request
      24,558 SF

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      819 Belt

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      305 Illinois St

      Office Properties & Spaces • 5,970 SF
      305 Illinois St, Belleville, IL 62220
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    • Value Estimation by Request
      5,970 SF

      305 Illinois St

      Office Properties & Spaces • 5,970 SF
      305 Illinois St, Belleville, IL 62220
      View Details
    • Value Estimation by Request

      222 Main St, Unit 4

      OFFICE BUILDING
      222 Main St, Belleville, IL 62220-1608
      View Details
    • Value Estimation by Request

      222 Main St, Unit 5

      OFFICE BUILDING
      222 Main St, Belleville, IL 62220-1608
      View Details

    Similar Nearby for Sale

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      Belleville Office Building For Sale

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    • $1,950,000
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      218 Main St

      Office Properties & Spaces • 47,942 SF
      218 Main St, Belleville, IL 62220
      View Details
    • $95,000
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      Belleville Commercial Building - $95K

      Historic Downtown Belleville, 4,088 SF, Vacant.
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    Similar Nearby for Lease

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      Belleville Executive Office Space

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      Downtown Belleville Office/Retail Space

      Office and retail space for lease in historic downtown Belleville.
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      3,450 SF

      Downtown Belleville Office Space Available

      Office suites available in downtown Belleville near courthouse and amenities.
      15 N 1St St, Belleville, IL 62220
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    • $12 SF/Yr
      5,146 SF

      Belleville Office Space For Rent

      Office space available in Belleville, Illinois.
      218-222 W Main St, Belleville, IL 62220
      View Details
    • Contact for pricing
      1,736 SF

      First Floor Office Suite

      First floor office suite with natural lighting and large layouts.
      521 W Main St, Belleville, IL 62220
      View Details
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    218 Main St
    Belleville, IL 62220
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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.

    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
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