305 Illinois St Belleville, IL 62220
Property profile & analytics
Location Intelligence
Current Use by Public Records
- Hospice of Southern Illinois / Nursing Home
- KC Aesthetics LLC / Spa & Massage Center / Skin Care Clinic
- El Moyo / Clothing & Fashion Store
Property Details for 305 Illinois St
- Year built
- 1900
- Property size
- 5,970 SF
- Property type
- Office Spaces
- Property subtype
- Investment properties
Description
This Belleville, IL, C-Class multi-tenant office building presents a compelling value-add investment opportunity. Priced at $295,000, this property boasts 5,970 square feet across two buildings, each two stories high, situated on multiple parcels totaling 6,170 square feet. Built in 1900 and renovated in 2010, the property features a mix of uses including office, apartment, and warehouse space. Currently, the occupancy rate stands at 75%, generating a strong NOI of $26,792 and a 9.10% cap rate. The property includes six units: a long-term insurance agency tenant, a newly established barbershop, two one-bedroom/one-bathroom apartments, and a leased rear warehouse. An additional 617 square foot office/retail suite is currently vacant, offering potential for owner-occupancy or leasing. This open-concept space features new flooring and paint. The property is zoned C-2 Heavy Commercial and benefits from ample parking. The land value alone is $41.88 per square foot. This is a rare opportunity to acquire a mixed-use property with significant upside potential in a desirable location. The property's strong cash flow, combined with the potential for increased occupancy and rental income, makes it an attractive investment for both seasoned and new investors. The APN is 08-21.0-419-012
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Belleville
- County
- St Clair
- State
- Illinois
- Longitude
- -89.9842
- Latitude
- 38.5168
