Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2614 Grandview Ave Alton, IL 62002-2903

    • Apartment buildings
    • 5,133 SF
    • 0.46 lot acres
    OFF-MARKET
    Value Estimations
    $520,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1457068
    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

    • Apartment buildings

    Property Details for 2614 Grandview Ave

    Construction
    MIXED
    Lot size
    0.46 lot acres
    Property size
    5,133 SF
    Property type
    Apartment buildings
    APN
    23-2-08-07-18-304-014
    APU
    232080718304014

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $590,000
      6.5%
      $545,000
      7%
      $505,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Alton
    County
    Madison
    State
    Illinois
    Longitude
    -90.1475
    Latitude
    38.8944
    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
    $3,434
    $7,110
    $32,030
    $39,140
    -
    $21,351
    $96,186
    $117,537

    Comparable in this City

    • Value Estimation by Request
      3,691 SF

      702 Milton Rd

      APARTMENT HOUSE (5+ UNITS) • 3,691 SF
      702 Milton Rd, Alton, IL 62002-2134
      View Details
    • Value Estimation by Request
      1,024 SF

      635 5th St

      APARTMENT HOUSE (5+ UNITS) • 1,024 SF
      635 5th St, Alton, IL 62002-2679
      View Details
    • Value Estimation
      $1,765,000
      18,432 SF

      1101 Washington Ave

      APARTMENT HOUSE (5+ UNITS) • 18,432 SF
      1101 Washington Ave, Alton, IL 62002-2808
      View Details
    • Value Estimation
      $9,475,000
      7,920 SF

      5 Riv Reach Ct

      APARTMENT HOUSE (5+ UNITS) • 7,920 SF
      5 Riv Reach Ct, Alton, IL 62002-7388
      View Details
    • Value Estimation
      $10,810,000
      7,920 SF

      6 Riv Reach Ct

      APARTMENT HOUSE (5+ UNITS) • 7,920 SF
      6 Riv Reach Ct, Alton, IL 62002-7389
      View Details
    • Value Estimation by Request
      2,806 SF

      1330 Langdon St

      APARTMENT HOUSE (5+ UNITS) • 2,806 SF
      1330 Langdon St, Alton, IL 62002-3610
      View Details

    Similar Nearby for Sale

    • $285,000
      33,150 SF

      Former School with Redevelopment Potential

      Former school building suitable for redevelopment in Alton, Illinois.
      121 W Elm St, Alton, IL 62002
      View Details
    • New
      $139,000
      1,594 SF

      Alton, IL Four-Unit Multifamily Property

      Four-unit multifamily property with strong rental history in Alton, IL.
      612 Mechanic St, Alton, IL 62002
      View Details
    • $59,900
      Pending

      Alton Duplex with Two Units

      Duplex in Alton, Illinois, featuring two separate units.
      728-730 E 6Th St, Alton, IL 62002
      View Details
    • $225,000
      3,062 SF

      Commercial Building with Income Apartment

      All-brick commercial building with income-producing apartment in high-traffic area.
      2248 E Broadway, Alton, IL 62002
      View Details
    • $210,000
      1,443 SF

      Multifamily Property with Cottage House

      Multifamily property featuring a main residence and separate cottage house.
      3302 College Ave, Alton, IL 62002
      View Details
    • $110,000
      0.11 Acres

      Alton, IL Investment Duplex

      Duplex in Christian Hill, walking distance to downtown Alton.
      314 W 4Th St, Alton, IL 62002
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      26,123 SF

      Redeveloped Shopping Center Anchor Space

      Anchor space available in a redeveloped shopping center.
      1705-1721 Homer M Adams Pkwy, Alton, IL 62002
      View Details
    • $665 /Mo
      500 SF

      Office Space in Honke Building

      500 SF office space available for lease in Alton.
      307 Henry St, Alton, IL 62002
      View Details
    • Contact for pricing
      50,063 SF

      Alton Corners Retail Space Available

      Prime Alton, IL retail space; 3 units available.
      309 Homer M Adams Pkwy, Alton, IL 62002
      View Details
    • $13 SF/Yr
      21,625 SF

      Alton Retail Space with Visibility

      Retail space with high visibility and flexible usage options.
      96 Northport Dr, Alton, IL 62002
      View Details
    • $13 SF/Yr
      21,625 SF

      Alton Retail Space For Lease

      Retail space with high visibility and flexible usage options available.
      90 Northport Dr, Alton, IL 62002
      View Details
    • $12 SF/Yr
      133,154 SF

      Versatile Industrial Space in Godfrey

      Industrial property with office and shop space for lease.
      4436 Industrial Dr, Alton, IL 62002
      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.
    2614 Grandview Ave
    Alton, IL 62002-2903
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!