Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1026 Welkins St Mount Vernon, IL 62864-5464
    Back to Search
    Property profile & analytics

    1026 Welkins St, Mount Vernon, IL 62864-5464

    View on Map
    • Commercial land
    Off-Market
    Last Sale Apr 15, 2025
    Property ID
    US28-4466963
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 1026 Welkins St

    Property type
    Commercial land
    APN
    07-32-251-004
    APU
    732251004

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 15, 2025 — Bruce Taylor Steven W Scott Warranty Deed —
    Dec 26, 2019 — Steven W Scott Melvin Orley Scott J Est Personal Representative Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Mount Vernon
    County
    Jefferson
    State
    Illinois
    Longitude
    -88.896
    Latitude
    38.3074
    CBSA code
    34500
    CBSA name
    MOUNT VERNON, IL MICROPOLITAN 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
    2021
    $317
    $3,422
    $0.00
    $3,422
    -
    $10,266
    $0.00
    $10,266

    Comparable in this City

    • Value Estimation by Request

      Mount

      VACANT COMMERCIAL LAND
      Mount, Vernon, IL 62864
      View Details
    • Value Estimation by Request

      2411 Broadway St

      VACANT COMMERCIAL LAND
      2411 Broadway St, Mount Vernon, IL 62864-2917
      View Details
    • Value Estimation by Request

      1703 14th St

      VACANT COMMERCIAL LAND
      1703 14th St, Mount Vernon, IL 62864-4926
      View Details
    • Value Estimation by Request

      319 15th St

      VACANT COMMERCIAL LAND
      319 15th St, Mount Vernon, IL 62864
      View Details
    • Value Estimation by Request

      1107 Salem Rd

      VACANT COMMERCIAL LAND
      1107 Salem Rd, Mount Vernon, IL 62864-3440
      View Details
    • Value Estimation by Request

      2413 Broadway St

      VACANT COMMERCIAL LAND
      2413 Broadway St, Mount Vernon, IL 62864-2974
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Prime Commercial Land Available

      6.21 acres of commercial land in Mt. Vernon, Illinois.
      4515 Ilberry Rd, Mount Vernon, IL 62864
      View Details
    • Contact for pricing

      Land with Highway Frontage

      Commercial land with frontage on Wells Bypass and I-57.
      Wl Byp And Ambassador Rd, Mount Vernon, IL 62864
      View Details
    • $115,500

      Commercial Lot For Sale

      Commercial lot in high-traffic area, city utilities available.
      2906 Broadway Mt, Vernon, IL 62864
      View Details
    • $78,500
      2,232 SF

      Versatile Commercial Property Package

      Multi-building commercial property with residential potential in Mt Vernon, IL.
      314 S 5 St Mt, Vernon, IL 62864
      View Details
    • $50,000
      4.00 Acres

      4 Acres on Illinois Highway

      4 acres with highway access, suitable for business or residential.
      E Illinois Hwy 15 Mt, Vernon, IL 62864
      View Details
    • Contact for pricing
      0.17 Acres

      Mount Vernon Commercial Land Parcel

      0.172 acre commercial land parcel in Mount Vernon, Illinois.
      1526 Perkins Ave, Mount Vernon, IL 62864
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      33 Acre New Development Site

      33-acre new development site at a major crossroads.
      41 Mateer Dr Mt, Vernon, IL 62864
      View Details
    • Contact for pricing

      Mount Vernon Land For Lease

      Land available for lease in Mount Vernon, Illinois.
      4615 Broadway St, Mount Vernon, IL 62864
      View Details
    • Contact for pricing

      Prime Location Office Unit

      1,000 SF office unit in high-traffic location.
      2801 Broadway St #A Mt, Vernon, IL 62864
      View Details
    • Contact for pricing
      1,378 SF

      Medical Office Space Available

      Class A medical building connected to St. Mary’s Hospital.
      2 Good Samaritan Way Mt, Vernon, IL 62864
      View Details
    • Contact for pricing

      Retail Spaces Available For Rent

      Retail spaces ranging from 630 to 4,738 SqFt available.
      42nd St Mt, Vernon, IL 62864
      View Details
    • Contact for pricing

      Prime Location Business Opportunity

      Exceptional spaces in a high-traffic plaza with recent upgrades.
      610 S 42 St Mt, Vernon, IL 62864
      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.
    1026 Welkins St
    Mount Vernon, IL 62864-5464
    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
    1026 Welkins St, Mount Vernon, IL, 62864
    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!