601 Carlyle AveBelleville, IL 62221

Property Details for 601 Carlyle Ave

Year built

1973

Lot size

0.56 AC

Property size (Sq ft)

2,600 SF

Property type

Retail properties

Property subtype

Drive through restaurants

APN

08-23-0-305-017

APU

8230305017

Description

This 2,600 square foot retail space, formerly an IHOP, is available for $299,000. Located at 601 Carlyle Avenue in Belleville, Illinois (zip code 62221), this property boasts a high-visibility location with 17,500 average daily traffic counts. The single-story building sits on a 0.55-acre lot and includes 38 parking spaces. Built in 1973 and partially renovated in 2017, the property features C-2 zoning, offering flexibility for conversion to office or retail use. All equipment (excluding leased items) is included in the sale price of $299,000, translating to $115 per square foot. The property's APN is 08-23.0-305-017. This presents a unique opportunity for investors and entrepreneurs seeking a well-located, adaptable commercial space in a thriving area of St. Clair County. The building's past use as a restaurant provides a solid foundation for a variety of potential businesses. The ample parking and high traffic volume ensure excellent visibility and accessibility for customers.

• CAP approach

  CAP return

  Valuation

  6%

  $873,628

  6.5%

  $806,426

  7%

  $748,824

• Comparable approach

  Method

  Valuation

  Relative Method

  $510,794

  Geo Method

  $510,794

• Alternative Use

  Use

  Valuation

  Residential

  $680,250

  Hospitality

  $623,106

  Educational

  $518,417

  Medical

  $536,246

  Retail

  $806,426

Location Insight

City

Belleville

County

St. Clair

State

Illinois

Latitude

38.5166

Longitude

-89.9571

CBSA code

41180

CBSA name

ST. LOUIS, MO-IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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