Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    5305-5315 Illinois St Fairview Heights, IL 62208
    Back to Search
    Property profile & analytics

    5305-5315 Illinois St, Fairview Heights, IL 62208

    View on Map
    • Land
    • 2.18 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 5305-5315 Illinois St

    Lot size
    2.18 lot acres
    Property type
    Land

    Description

    This exceptional 2.18-acre commercial development opportunity is located in Fairview Heights, Illinois, at 5305-5315 N. Illinois (IL-159), boasting 382 feet of frontage south of St. Clair Square. The property, identified by APN 03-33.0-210-020;021;024;03-33.0-212-028, is zoned B3, offering significant flexibility for a variety of commercial uses. The site currently features three small structures that can be readily vacated, allowing for immediate redevelopment. This prime location benefits from exceptional visibility and accessibility, situated along a high-traffic corridor with an average daily traffic count of 25,600 vehicles on Route 159. The asking price has been significantly reduced to $400,000, presenting a compelling investment opportunity for developers seeking a strategic location in a thriving market. The property's size and zoning make it ideal for a wide range of commercial projects, capitalizing on the high traffic volume and proximity to St. Clair Square. This is a rare chance to acquire a substantial commercial parcel in a desirable location at a reduced price. Don't miss this opportunity to secure a prime piece of Fairview Heights real estate.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Fairview Heights
    County
    St. Clair
    State
    Illinois
    Longitude
    -89.9852
    Latitude
    38.58

    Comparable in this City

    • Value Estimation by Request
      35.00 Acres

      IL-159 At I-64

      Land
      IL-159 At I-64, Fairview Heights, IL 62208
      View Details
    • Value Estimation by Request
      59.50 Acres

      Prime Development Land

      Land
      0 Prime Development Land, Fairview Heights, IL 62208
      View Details
    • Value Estimation by Request
      4.87 Acres

      Frank Scott Pkwy

      Land
      0 Frank Scott Pkwy, Fairview Heights, IL 62208
      View Details
    • Value Estimation by Request
      6.64 Acres

      4701 Illinois St

      Land
      4701 Illinois St, Fairview Heights, IL 62208
      View Details
    • Value Estimation by Request
      0.50 Acres

      1940 Sra Bradley R Smith Dr

      Land
      1940 Sra Bradley R Smith Dr, Fairview Heights, IL 62208
      View Details
    • Value Estimation by Request
      0.52 Acres

      5024 Illinois St

      Land
      5024 Illinois St, Fairview Heights, IL 62208
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      O'Fallon Development Land

      59.5 acres of land for sale in O'Fallon, Illinois.
      Prime Development Land, O Fallon, IL 62208
      View Details
    • Contact for pricing

      Fairview Heights Land for Sale

      Land available in Fairview Heights with buildable area.
      4701 N Illinois St, Fairview Heights, IL 62208
      View Details
    • Contact for pricing

      Commercial Development Site For Sale

      4.87 acre pad ready commercial development site for sale.
      Frank Scott Pkwy W, Fairview Heights, IL 62208
      View Details
    • $39,900
      1.04 Acres

      Stonewolf Subdivision Wooded Homesite

      One-acre wooded lot in Stonewolf Subdivision.
      1078 Blackwolf Ct, Fairview Heights, IL 62208
      View Details
    • Contact for pricing
      0.28 Acres

      Residential Building Lot in Fairview Heights

      Residential building lot near IL 159 and Ashland Avenue.
      114 Ashland Ave, Fairview Heights, IL 62208
      View Details
    • Contact for pricing
      0.34 Acres

      Residential Lot in Fairview Heights

      Residential lot in a cul-de-sac with easy access.
      83 Montclair Dr, Fairview Heights, IL 62208
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Land Near Interstate-64

      Commercial land for rent near I-64 and St. Louis.
      67 Ludwig Dr, Fairview Heights, IL 62208
      View Details
    • $2,023 /Mo

      Retail Space For Rent

      Retail space available for rent in Fairview Heights, IL.
      6601 North Illinois St, Fairview Heights, IL 62208
      View Details
    • Contact for pricing

      Professional Office Spaces For Lease

      Professional office spaces for lease with full service leases.
      10314 Lincoln Trl, Fairview Heights, IL 62208
      View Details
    • Contact for pricing
      13,049 SF

      Retail with Warehouse Space

      13,049 SF retail/warehouse space available for lease.
      317 Lincoln Hwy, Fairview Heights, IL 62208
      View Details
    • Contact for pricing
      2,026 SF

      Retail Space in Fairview Heights

      Retail spaces available in Schnucks-anchored shopping center on Lincoln Highway.
      525 Lincoln Hwy, Fairview Heights, IL 62208
      View Details
    • Contact for pricing
      1,680 SF

      Fairview Heights Retail Opportunity

      Retail spaces available in established Fairview Heights shopping center.
      55-81 Ludwig Dr, Fairview Heights, IL 62208
      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.
    5305-5315 Illinois St
    Fairview Heights, IL 62208
    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
    5305-5315 Illinois St, Fairview Heights, IL, 62208
    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!