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    1602-92 Carlyle Ave Belleville, IL 62221
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    1602-92 Carlyle Ave Belleville, IL 62221

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    • Land
    • 0.80 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 1602-92 Carlyle Ave

    Lot size
    0.80 lot acres
    Property type
    Land

    Description

    This exceptional commercial land opportunity in Belleville, Illinois, presents a unique investment prospect. Located at 1602-92 Carlyle Ave (IL Route 161) near North Green Mount Rd, the property boasts lot sizes ranging from 0.8 to 1.63 acres, priced competitively at $12.75 to $14.50 per acre. Its strategic location offers unparalleled access to significant traffic generators, including the Green Mount Commons Shopping Center (anchored by Walmart and Lowe's) just a quarter-mile away. The property's proximity to Southwestern Illinois College (8,841 students) and Belleville East High School (2,472 students), both within half a mile, ensures a consistent flow of potential customers. The site benefits from a strong co-tenancy mix, including established businesses such as Lee's Famous Recipe Chicken, Papa John's Pizza, The Tan Company, State Farm, The Stash, Copy N Ship, and Hi Tokyo Restaurant. This prime location and established commercial presence make this land ideal for a variety of development projects, offering substantial potential for return on investment. The property is situated in St. Clair County, Illinois, with a zip code of 62221. The precise coordinates are 38.518939 latitude and -89.936215 longitude. This is a rare opportunity to acquire commercial land in a thriving area with high visibility and strong demographics.

    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
    -89.9362
    Latitude
    38.5189

    Comparable in this City

    • Value Estimation by Request
      2.88 Acres

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      3.07 Acres

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      Land • 3.07 Acres
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      2.20 Acres

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      Land • 2.20 Acres
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      1.00 Acre

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      17.48 Acres

      988 Green Mount Rd

      Land • 17.48 Acres
      988 Green Mount Rd, Belleville, IL 62221
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      10.50 Acres

      310 Wingate Blvd

      Land • 10.50 Acres
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    Similar Nearby for Sale

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      Land Available in Expanding Community

      Land lots available near schools in a growing community.
      1602-92 Carlyle Ave, Belleville, IL 62221
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      Corner Development Site For Sale

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      1800-1810 N Belt E, Belleville, IL 62221
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      Waterford Place Gated Community Lot

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      Prime Shiloh Development Opportunity

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      Land For Sale Route 159

      1 to 9 acres of flat, developable land available.
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    Similar Nearby for Lease

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      Three Acres Developable Land

      Three acres of developable land in Shiloh, Illinois.
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      Prime Commercial Land For Rent

      Commercial land with high visibility and access, near major establishments.
      860 Carlyle Ave, Belleville, IL 62221
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    • Contact for pricing

      Office Space For Lease

      800 SF office space with private offices and reception.
      2626 West Blvd, Belleville, IL 62221
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      2,000 SF

      Retail Space in Carlyle Plaza

      Retail space available in a busy shopping center.
      20-76 Carlyle Plaza Dr, Belleville, IL 62221
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      5,856 SF

      Retail Space in Belleville, IL

      Retail space available in a busy shopping center.
      654-658 Carlyle Ave, Belleville, IL 62221
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      23,600 SF

      Retail Space For Lease

      Retail spaces available with monument and building signage.
      1620-1680 Lebanon Ave, Belleville, IL 62221
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    Belleville, IL 62221
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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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    1602-92 Carlyle Ave, Belleville, IL, 62221
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