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    2122 Pontoon Rd Granite City, IL 62040-4000
    Property profile & analytics

    2122 Pontoon Rd Granite City, IL 62040-4000

    View on Map
    • Office Spaces
    • 3,584 SF
    • 0.22 lot acres
    Off-Market
    Last Sale Oct 11, 2023
    $2,750,000
    Property ID
    US28-2054150
    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
    $3,130,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 2122 Pontoon Rd

    Year built
    1988
    Lot size
    0.22 lot acres
    Property size
    3,584 SF
    Property type
    Office Spaces
    APN
    22-2-20-09-05-101-027
    APU
    222200905101027

    Description

    This established Granite City, IL office park offers four Class B buildings totaling 14,336 square feet on a 0.91-acre lot. Each of the two-story buildings comprises 3,584 square feet and is separately parceled, presenting a unique value-add opportunity for investors seeking to lease or sell individually. Currently vacant, this turnkey property is zoned C-2 and boasts a prominent pylon sign. Built in 1988, the property is ideally situated near a population exceeding 10,000 residents within a one-mile radius, making it attractive for owner-occupiers and investors alike. The asking price is $125,000. The property's address is 2122, 2126, 2128, and 2132 Pontoon Road, Granite City, IL 62040. The APN numbers are 22-2-20-09-05-101-027, 22-2-20-09-05-101-028, 22-2-20-09-05-101-029, 22-2-20-09-05-101-030, 22-2-20-09-05-101-031, and 22-2-20-09-05-101-032. This presents a rare chance to acquire a versatile and well-located office complex in a thriving area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,520,000
      ML approach
      $3,510,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Granite City
    County
    Madison
    State
    Illinois
    Longitude
    -90.1117
    Latitude
    38.7313
    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
    2022
    $6,641
    $10,570
    $55,830
    $66,400
    -
    $31,742
    $167,658
    $199,400

    Comparable in this City

    • Value Estimation by Request
      894 SF

      3005 Madison Ave

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      View Details
    • Value Estimation by Request
      0.04 Acres

      1326 Niedringhaus Ave, Unit A

      OFFICE (GENERAL) • 0.04 Acres
      1326 Niedringhaus Ave, Granite City, IL 62040-4626
      View Details
    • Value Estimation by Request
      1,217 SF

      3165 Myrtle Ave, Unit 5

      OFFICE (GENERAL) • 1,217 SF
      3165 Myrtle Ave, Granite City, IL 62040-5012
      View Details
    • Value Estimation by Request
      1,032 SF

      3136 Nameoki Rd

      OFFICE (GENERAL) • 1,032 SF
      3136 Nameoki Rd, Granite City, IL 62040-5013
      View Details
    • Value Estimation by Request
      1,404 SF

      928 Niedringhaus Ave

      OFFICE (GENERAL) • 1,404 SF
      928 Niedringhaus Ave, Granite City, IL 62040-3141
      View Details
    • Value Estimation by Request
      3,115 SF

      2355 Pontoon Rd

      OFFICE (GENERAL) • 3,115 SF
      2355 Pontoon Rd, Granite City, IL 62040-4022
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • Contact for pricing

      Office and Industrial Spaces Available

      Office and industrial spaces for rent on Chain of Rocks Road.
      122 East Chain Of Rocks Rd, Pontoon Beach, IL 62040
      View Details
    • $9 SF/Yr
      1,032 SF

      Granite City Office Space Available

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      View Details
    • Contact for pricing

      Granite City Warehouse with Office

      12,000 SF warehouse with office space for lease.
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      Office/Retail Building with Store Frontage

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      Retail Space Available For Rent

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      View Details
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      3,372 SF

      Granite City Office Building

      Well-maintained office building with high visibility and strong tenants.
      3723 Nameoki Rd, Granite City, IL 62040
      View Details
    Request Owner's contact information
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    Granite City, IL 62040-4000
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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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