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    Property profile & analytics

    4439 Il-177 Okawville, IL 62271

    • Retail properties
    • 12,400 SF
    • 4.50 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 4439 Il-177

    Lot size
    4.50 lot acres
    Property size
    12,400 SF
    Property type
    Retail properties
    Property subtype
    Restaurants

    Description

    This exceptional multi-use property in Okawville, Illinois, presents a compelling value-add investment opportunity. Located at 4439 State Route 177, this 4.5-acre site boasts a substantial 12,400 square feet of building space, encompassing a thriving bar and grill, residential quarters, and a significant storage facility. The storage component includes 88 mini-storage units, currently 98% leased, and a large 30x130-foot metal building suitable for vehicle or RV storage, plus a workshop. The property also offers ample land for future expansion of the storage facilities. The existing bar and grill operation adds to the overall revenue stream, although the provided NOI of $31,326 and 3.69% cap rate reflect only a portion of the potential income, as these figures are based on self-storage income alone, excluding the bar, gaming machines, and residential income. The property is zoned HB-1 and includes 60 parking spaces. The asking price is $850,000, translating to $68.55 per square foot. This unique combination of established businesses and high-demand storage units makes this property an attractive investment with significant upside potential. Its convenient location near Scott Air Force Base further enhances its appeal. The property's current occupancy rate is 80%. The APN is 16-05-14-100-013.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Okawville
    County
    Washington
    State
    Illinois
    Longitude
    -89.6227
    Latitude
    38.4479

    Comparable in this City

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      3,672 SF

      707 Hanover St

      MINI-WAREHOUSE, STORAGE • 3,672 SF
      707 Hanover St, Okawville, IL 62271-1910
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    • Value Estimation by Request
      3,633 SF

      401 Frnt St

      MINI-WAREHOUSE, STORAGE • 3,633 SF
      401 Frnt St, Okawville, IL 62271
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    • Value Estimation by Request
      7,168 SF

      206 Hanover St

      MINI-WAREHOUSE, STORAGE • 7,168 SF
      206 Hanover St, Okawville, IL 62271-1866
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    • Value Estimation by Request
      6.05 Acres

      1505 Tower Dr

      Retail properties • 1,400 SF
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    • Value Estimation by Request
      8,125 SF

      900 Hen House Rd

      Individual retail properties • 8,125 SF
      900 Hen House Rd, Okawville, IL 62271
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    • New
      Contact for pricing
      0.27 Acres

      Residential Lot in Established Area

      Ready-to-build lot in Okawville, established neighborhood, survey complete.
      105 N Hickory St, Okawville, IL 62271
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    4439 Il-177
    Okawville, IL 62271
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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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