Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    705 Illinois Rte Collinsville, IL 62234
    Back to Search
    Property profile & analytics

    705 Illinois Rte, Collinsville, IL 62234

    View on Map
    • Retail properties & Spaces
    • 5,999 SF
    • 1.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 705 Illinois Rte

    Lot size
    1.00 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Land

    Description

    This exceptional 1-acre commercial lot, located at 705 Illinois Route 157 in Collinsville, Illinois (zip code 62234), presents a unique investment opportunity. Priced at $750,000 ($17.22/SF land value), this property offers significant potential for new retail or restaurant development. The lot is zoned D Hp-1 (Hospitality Park District), allowing for a variety of uses, and includes 50 parking spaces. Its prime location boasts high visibility and accessibility, situated adjacent to a new Popeyes and Jimmy John's, and in close proximity to major retailers such as Home Depot, Walmart, and a proposed Chick-fil-A. The site is conveniently located north of Eastport Plaza, near the I-55/I-70 interchange, ensuring excellent traffic flow and customer access. This value-add investment is available for sale, ground lease, or build-to-suit options, with drive-thru potential. The site will be filled to grade, simplifying development. With a total area of 5,999 square feet, this property is ready for immediate development. This is an ideal opportunity for investors seeking a high-growth area with strong demographics and established commercial presence. Contact us today to learn more about this exceptional property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Collinsville
    County
    Madison
    State
    Illinois
    Longitude
    -90.0104
    Latitude
    38.6855

    Comparable in this City

    • Value Estimation by Request
      5,999 SF

      705 Il-157

      Land
      705 Il-157, Collinsville, IL 62234
      View Details
    • Value Estimation by Request
      62.58 Acres

      Eastport Plaza Dr

      Farms
      0 Eastport Plaza Dr, Collinsville, IL 62234
      View Details
    • Value Estimation by Request
      0.48 Acres

      18 Ashland Ave

      Land
      18 Ashland Ave, Collinsville, IL 62234
      View Details
    • Value Estimation by Request

      317 Bissell Ave

      Multifamily properties
      317 Bissell Ave, Collinsville, IL 62234
      View Details
    • Value Estimation by Request
      3.03 Acres

      204-206 Bluff Rd

      Land
      204-206 Bluff Rd, Collinsville, IL 62234
      View Details
    • Value Estimation by Request
      2.66 Acres

      Executive Dr

      Land
      0 Executive Dr, Collinsville, IL 62234
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land For Sale Collinsville

      Land available for sale in Collinsville, Illinois.
      705 Blf Rd Hwy 157, Collinsville, IL 62234
      View Details
    • Contact for pricing

      119.94 Acres Available Land

      Large land parcel available in Collinsville, Illinois.
      NW Quadrant Of Lemen Settlement Rd, Collinsville, IL 62234
      View Details
    • Contact for pricing

      Residential Lots Near Downtown Collinsville

      Affordable building lots for new homes in established neighborhood.
      32 Jefferson Ave, Collinsville, IL 62234
      View Details
    • Contact for pricing

      Eastport Commerce Center Outlot

      4.86 acre lot in growing industrial area.
      105 Commerce Center Dr, Collinsville, IL 62234
      View Details
    • Contact for pricing

      Commercial Development Site on Vandalia

      1.29 acre commercial development site on Vandalia Street.
      1830 Vandalia St, Collinsville, IL 62234
      View Details
    • $220,900
      0.10 Acres

      Collinsville Commercial Building Investment

      Three-unit brick building with adjoining lot.
      2008 Vandalia St, Collinsville, IL 62234
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Collinsville Build to Suit Lots

      Office/Warehouse lots available in Collinsville's Eastport District.
      1608 Eastport Plaza Dr, Collinsville, IL 62234
      View Details
    • Contact for pricing
      1,750 SF

      Retail Space Near Super Wal-Mart

      Retail space in power center near major highway intersection.
      1100-1146 Collinsville Crossing Blvd, Collinsville, IL 62234
      View Details
    • Contact for pricing

      Warehouse and Retail Space Available

      Multiple suites available for lease with high visibility.
      9500 Collinsville Rd, Collinsville, IL 62234
      View Details
    • Contact for pricing

      Retail/Office Space Near Interstate

      Adaptable space available for retail or office use.
      2549 Vandalia St, Collinsville, IL 62234
      View Details
    • Contact for pricing
      4,971 SF

      Retail Space Near St. Louis

      28,487 SF shopping center with retail space available.
      607-613 Belt Line Rd, Collinsville, IL 62234
      View Details
    • Contact for pricing
      20,000 SF

      Retail Space Near Rural King

      Retail space available near major retailers, restaurants, and tourist attractions.
      9525 Collinsville Rd, Collinsville, IL 62234
      View Details
    Request Owner's contact information
    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.
    705 Illinois Rte
    Collinsville, IL 62234
    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
    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

    Thank You for Inquiry
    705 Illinois Rte, Collinsville, IL, 62234
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!