Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    311 Centreville Ave Belleville, IL 62223
    Property profile & analytics

    311 Centreville Ave, Belleville, IL 62223

    View on Map
    • Warehouses
    • 7,282 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 311 Centreville Ave

    Year built
    1987
    Property type
    Warehouses
    Property subtype
    Office Spaces

    Description

    This exceptional 1,300 square foot space, part of a larger 7,282 square foot building, offers a blend of office and warehouse functionality, perfect for a variety of businesses. Located in St. Clair County, with convenient access just off Centreville Avenue and Monroe Street, this single-tenant property boasts a practical layout. The warehouse area features an 8-foot overhead drive-in door and an exhaust fan, ensuring efficient loading and ventilation. Connected to a shared restroom, the adjoining office/storage space provides a comfortable and functional workspace. Built in 1987, the building is zoned D-1, offering flexibility for various commercial uses. The property's APN is 08-28.0-129-023. This is an excellent opportunity to secure a well-located, versatile commercial space that combines the benefits of both office and warehouse environments. The remaining 5,982 square feet of the building is currently occupied. This property is ready for immediate occupancy. Don't miss this chance to establish your business in a prime location.

    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
    -89.9942
    Latitude
    38.5104

    Comparable in this City

    • Value Estimation by Request
      63,588 SF

      9480 Il-15

      Distribution properties
      9480 Il-15, Belleville, IL 62223
      View Details
    • Value Estimation by Request
      35,052 SF

      40 64Th St

      Retirement homes
      40 64Th St, Belleville, IL 62223
      View Details
    • Value Estimation by Request
      0.74 Acres

      1617 Sauget Industrial Pkwy

      Land
      1617 Sauget Industrial Pkwy, Belleville, IL 62223
      View Details
    • Value Estimation
      $8,360,000
      147,888 SF

      1 Busch Blvd

      INDUSTRIAL (GENERAL)
      1 Busch Blvd, Belleville, IL 62223-1017
      View Details
    • Value Estimation by Request
      0.22 Acres

      100 Superior Dr

      INDUSTRIAL (GENERAL)
      100 Superior Dr, Belleville, IL 62223
      View Details
    • Value Estimation
      $640,000
      9,520 SF

      5841 Mine Haul Rd

      INDUSTRIAL (GENERAL)
      5841 Mine Haul Rd, Belleville, IL 62223-7641
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      25,188 SF

      Truck Terminal For Sale

      25,188 SF truck terminal with income-generating potential.
      5920 Gateway Industrial Dr, Belleville, IL 62223
      View Details
    • Contact for pricing
      25,188 SF

      Truck Terminal with Income Potential

      25,188 SF truck terminal with existing lease income.
      5920 Gateway Industrial Dr, Belleville, IL 62223
      View Details
    • Contact for pricing
      10,480 SF

      Belleville Industrial Property for Sale

      Industrial property featuring 10,480 square feet of space in Belleville.
      5921 Gateway Industrial Dr, Belleville, IL 62223
      View Details
    • Contact for pricing
      2,030 SF

      Medical Office in Copper Bend

      2,030 SF medical office in established office park.
      2900 Frank Scott Pkwy W, Belleville, IL 62223
      View Details
    • $105,000
      1,110 SF

      Belleville Medical Office - $105K

      1,110 SF Medical Office, Vacant, Great Location
      2900 Frank Scott Pkwy, Belleville, IL 62223
      View Details
    • Contact for pricing
      8,736 SF

      Belleville Office Space Available

      8,736 SF office space for rent in Belleville, IL.
      28 W 64Th St, Belleville, IL 62223
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      12,340 SF

      Belleville Office/Warehouse Space Available

      12,340 SF office/warehouse space for lease in Belleville, IL.
      9480 State Route 15, Belleville, IL 62223
      View Details
    • Contact for pricing
      18,309 SF

      Belleville Office Space for Lease

      Professional office suites available with highway visibility and ample parking.
      7650 Magna Dr, Belleville, IL 62223
      View Details
    • Contact for pricing
      520 SF

      Shiloh Parkway Plaza Office Suites

      Office suites for lease in high-growth Shiloh Parkway Plaza.
      1207 Frank Scott Pkwy, Shiloh, IL 62223
      View Details
    • Contact for pricing

      Renovated Co-working Shared Space

      Newly renovated co-working space with professional and affordable amenities.
      6500 W Main St, Belleville, IL 62223
      View Details
    • Contact for pricing

      Retail Space in Belleville

      Retail space in a dynamic Belleville location.
      1609 W Main St, Belleville, IL 62223
      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.
    311 Centreville Ave
    Belleville, IL 62223
    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
    311 Centreville Ave, Belleville, IL, 62223
    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!