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    2307 Benton Rd Mount Vernon, IL 62864
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    2307 Benton Rd, Mount Vernon, IL 62864

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    • Distribution centers
    Off-Market
    Property ID
    US28-3595629
    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

    • Distribution centers

    Property Details for 2307 Benton Rd

    Property type
    Distribution centers

    Description

    This exceptional commercial real estate offering encompasses nearly six acres of prime land in Mt. Vernon, IL's desirable business district, just south of the downtown area. The property boasts four existing buildings: a meticulously updated 3-bedroom, 2-bathroom home with modern amenities and included appliances; an 800 sq ft commercial building (40x20 ft, 12 ft ceilings) featuring a versatile layout ideal for office, retail, or showroom use, complete with a kitchenette, laundry, and bathroom; and two additional pole barn/metal structures providing ample warehousing, manufacturing, or storage space. The expansive lot offers abundant parking and significant potential for expansion or future development. This property presents a unique opportunity for investors, developers, and business owners seeking a versatile and strategically located asset in Southern Illinois. The property is zoned B2 and offers endless possibilities. All buildings are included in the sale price of $425,000.

    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
    -88.9035604
    Latitude
    38.2921663

    Comparable in this City

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      2,232 SF

      Versatile Commercial Property Package

      Multi-building commercial property with residential potential in Mt Vernon, IL.
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      Freestanding Retail Building For Sale

      4,190 SF retail building in Mount Vernon, Illinois.
      130 N 44Th St, Mount Vernon, IL 62864
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    Similar Nearby for Sale

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      Commercial Building on Corner Lot

      2700 SF commercial building with high traffic and storage.
      823 S 10 St Mt, Vernon, IL 62864
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      4,500 SF

      Income-Producing Commercial Property For Sale

      Versatile commercial property with income potential and flexible use options.
      1300 George St Mt, Vernon, IL 62864
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      8,667 SF

      Industrial Building on Large Lot

      8,667 SF industrial building on approximately 5 acres.
      500 Gee St, Mount Vernon, IL 62864
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      16,800 SF

      Mt. Vernon Warehouse on 7 Acres

      Well-maintained 16,800 SF office/warehouse near I-57/I-64.
      12086 Il Highway 148, Herrin, IL 62864
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      2,232 SF

      Versatile Commercial Property Package

      Multi-building commercial property with residential potential in Mt Vernon, IL.
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    • $1,204,167

      Freestanding Retail Building For Sale

      4,190 SF retail building in Mount Vernon, Illinois.
      130 N 44Th St, Mount Vernon, IL 62864
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    Similar Nearby for Lease

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      8,000 SF

      8,000 SF Industrial Warehouse

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      3,850 SF

      Retail Space Near Kroger

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      1,500 SF

      Retail Center Shadow Anchored

      Retail space available in shadow-anchored shopping center.
      101 Davidson Rd, Mount Vernon, IL 62864
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    2307 Benton Rd
    Mount Vernon, IL 62864
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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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    2307 Benton Rd, Mount Vernon, IL, 62864
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