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    Property profile & analytics

    1708 New Car Dr O'Fallon, IL 62269

    • Lifestyle centers
    • 16,991 SF
    • 1.66 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1592383
    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

    • Lifestyle centers

    Property Details for 1708 New Car Dr

    Year built
    2000
    Lot size
    1.66 lot acres
    Property size
    16,991 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional 16,991 square foot shopping center, located at 1708 New Car Dr in O'Fallon, Illinois, presents a lucrative investment opportunity. Built in 2000 and situated on a 1.66-acre lot, the property boasts a desirable B-2 Commercial zoning designation, allowing for a wide range of commercial uses. The center's prime location in the thriving O'Fallon market ensures high visibility and accessibility for businesses. The asking price is $2,150,000. This well-maintained property offers significant potential for immediate income generation and long-term appreciation. Its substantial size and strategic location within St. Clair County, Illinois, make it an ideal investment for both seasoned and emerging investors seeking a strong return on investment in a stable and growing market. The property's 2000 construction date suggests a relatively modern building with potential for minimal immediate capital expenditure. The zip code is 62269. The property's coordinates are latitude 38.5963569 and longitude -89.9572079. This retail shopping center represents a rare opportunity to acquire a well-positioned asset in a highly sought-after location. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    O'Fallon
    County
    St Clair
    State
    Illinois
    Longitude
    -89.9572079
    Latitude
    38.5963569

    Comparable in this City

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      Retail/Showroom Building with Ample Parking

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      Auto Dealer Retail/Showroom Building

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    Similar Nearby for Sale

    • $1,300,000
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      O'Fallon Retail Center Investment

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      187 Auto Ct, O'Fallon, IL 62269
      View Details
    • $3,190,000

      Retail Investment Opportunity on Highway

      High-visibility retail center with stable tenants near major retailers.
      1407 Highway 50 W, O Fallon, IL 62269
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      22,000 SF

      New Mixed-Use Development in O’Fallon

      Mixed-use development combining housing, entertainment, and retail.
      1354 Porter Rd, O Fallon, IL 62269
      View Details
    • Contact for pricing
      14,909 SF

      Retail/Showroom Building with Ample Parking

      Turn-key auto dealer retail/showroom with high visibility and traffic.
      105 Auto Ct, O Fallon, IL 62269
      View Details
    • $1,300,000
      3,104 SF

      Auto Dealer Retail/Showroom Building

      Turn-key auto dealer retail/showroom building with ample parking.
      187 Auto Ct, O Fallon, IL 62269
      View Details
    • $459,000
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      Belleville Investment Property For Sale

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      1926 W Main St, Belleville, IL 62269
      View Details

    Similar Nearby for Lease

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      Retail Space in O'Fallon Center

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      O'Fallon Retail Space - Hwy 50

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      Retail Space Near Mixed-Use Development

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      O'Fallon Retail/Office Opportunity

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    1708 New Car Dr
    O'Fallon, IL 62269
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    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
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