Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    2 Sheryl Dr Fairview Heights, IL 62208

    • Commercial real estate
    • 1,474 SF
    • 0.31 lot acres
    For Sale
    View listing
    $177,000
    Last Sale
    Jul 25, 2022
    $142,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1227075
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2 Sheryl Dr

    Year built
    1956
    Construction
    WOOD
    Lot size
    0.31 lot acres
    Property size
    1,474 SF
    Property type
    Commercial real estate
    APN
    03-29-0-205-009
    APU
    3290205009

    Description

    This 13,504 square foot lot in Fairview Heights, Illinois, presents a unique investment opportunity at an asking price of $177,000. Located at 2 Sheryl Drive, 62208, this property boasts a flexible zoning designation, previously utilized as a hair salon. The building features two separate front entrances, offering diverse usage potential. Interior amenities include two wash bowl stations with fixtures and ample storage/workspace. Exterior features are equally compelling, with 15 parking spaces, including two handicap-accessible spots, and an additional two spaces under a carport. An outdoor storage shed is also included. Note that the Fairview Heights Zoning Board is phasing out multi-use properties along Route 50; this property's future zoning classification should be verified independently. The property is classified as Industrial and Land, with a warehouse and commercial subtype. This property is ideal for a variety of commercial uses or even a residential conversion, subject to zoning regulations. The property's location offers convenient access to Route 50 and surrounding amenities. This is a rare opportunity to acquire a versatile property in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $110,000
      ML approach
      $130,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $149,000
      Market price range: $58.2k - $197k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fairview Heights
    County
    St. Clair
    State
    Illinois
    Longitude
    -90.0098
    Latitude
    38.5936
    CBSA code
    41180
    CBSA name
    ST. LOUIS, MO-IL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,889
    $12,743
    $44,111
    $56,854
    -
    $38,229
    $132,333
    $170,562

    Comparable in this City

    • Value Estimation
      $250,000
      0.43 Acres

      1000 Lincoln Hwy

      COMMERCIAL (GENERAL) • 0.43 Acres
      1000 Lincoln Hwy, Fairview Heights, IL 62208-2221
      View Details
    • Value Estimation
      $250,000
      0.66 Acres

      10002 Lincoln Trl

      COMMERCIAL (GENERAL) • 0.66 Acres
      10002 Lincoln Trl, Fairview Heights, IL 62208
      View Details
    • Value Estimation
      $260,000
      1.18 Acres

      Ofallon Dr

      COMMERCIAL (GENERAL) • 1.18 Acres
      Ofallon Dr, Fairview Heights, IL 62208
      View Details
    • Value Estimation by Request

      134 Saint Clair Sq

      COMMERCIAL (GENERAL)
      134 Saint Clair Sq, Fairview Heights, IL 62208-2135
      View Details
    • Value Estimation
      $350,000
      3,024 SF

      9723 State Rte 161

      COMMERCIAL (GENERAL) • 3,024 SF
      9723 State Rte 161, Fairview Heights, IL 62208-1659
      View Details
    • Value Estimation
      $290,000
      2,576 SF

      6 Schaperkoetter Dr

      COMMERCIAL (GENERAL) • 2,576 SF
      6 Schaperkoetter Dr, Fairview Heights, IL 62208
      View Details

    Similar Nearby for Sale

    • $225,000
      2.69 Acres

      Fairview Heights Development Land

      Prime 2.69-acre commercial site
      816 Fountains Pkwy, Fairview Heights, IL 62208
      View Details
    • $150,000
      4.87 Acres

      Frank Scott Parkway Commercial Land

      Prime 4.87-Acre Development Site
      0 Frank Scott Pkwy, Fairview Heights, IL 62208
      View Details
    • $824,000
      103.00 Acres

      Prime Fairview Heights Commercial Land

      103 Acres, R-3 Zoning, $824,000
      0 Smt Spg, Fairview Heights, IL 62208
      View Details
    • Contact for pricing
      59.50 Acres

      O'Fallon, IL Development Land

      59.5 Acres, Prime Location, Hwy 50 Access
      0 Prime Development Land, Fairview Heights, IL 62208
      View Details
    • $320,000
      0.33 Acres

      Fairview Heights Commercial Property

      High-traffic retail space, 2700 sq ft, $320,000
      10099 Lincoln Trl, Fairview Heights, IL 62208
      View Details
    • $10,000,000
      35.00 Acres

      Prime Fairview Heights Development Site

      72-Acre Mixed-Use Land, $10M
      IL-159 At I-64, Fairview Heights, IL 62208
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      97,459 SF

      Plaza St. Clair Retail Center

      Fairview Heights retail space available.
      525 Lincoln Hwy, Fairview Heights, IL 62208
      View Details
    • $5 SF/Yr
      37,000 SF

      Fairview Heights Industrial Space

      27,000 SF Warehouse/Office Available
      9510 St Clair Ave, Fairview Heights, IL 62208
      View Details
    • $10 SF/Yr
      13,049 SF

      Fairview Heights Office/Warehouse

      13,049 SF Retail/Industrial Space. High Visibility.
      317 Lincoln Hwy, Fairview Heights, IL 62208
      View Details
    • Contact for pricing
      85,603 SF

      Fairview Heights Retail Space

      Prime Retail Space, 24,502 SF Available
      6601 Illinois St, Fairview Heights, IL 62208
      View Details
    • Contact for pricing
      1,067,610 SF

      St. Clair Square Office Suites

      Prime Fairview Heights Office Space
      134 St Clair Sq, Fairview Heights, IL 62208
      View Details
    • Contact for pricing
      20,200 SF

      Midway Plaza Retail Space

      Fairview Heights, IL Strip Center - 20,200 SF Available
      0 Lincoln Trl, 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.
    2 Sheryl Dr
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.