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    2705 College Ave Alton, IL 62002
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    Property profile & analytics

    2705 College Ave Alton, IL 62002

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    • Apartment buildings
    • 6,904 SF
    • 0.39 lot acres
    For Sale
    $980,000
    View Listing →
    Alton Multifamily Investment Opportunity For Sale
    $980,000
    0.33 Acres

    Alton Multifamily Investment Opportunity

    Two buildings with 14 units near dental college.

    2705 College Avenue, Alton, IL 62002
    View Listing
    Property ID
    US28-1738819
    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

    • Apartment buildings

    Property Details for 2705 College Ave

    Lot size
    0.39 lot acres
    Property size
    6,904 SF
    Property type
    Apartment buildings
    APN
    23-2-08-07-10-102-001
    APU
    232080710102001

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $795,000
      6.5%
      $735,000
      7%
      $680,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $782,000
      Market price range: $320k - $2.00M

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

    Location Insight

    • Map
    • Local Demand
    City
    Alton
    County
    Madison
    State
    Illinois
    Longitude
    -90.1462
    Latitude
    38.9031
    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
    $14,787
    $5,910
    $162,630
    $168,540
    -
    $17,748
    $488,378
    $506,126

    Comparable in this City

    • Value Estimation by Request
      5,766 SF

      2336 Brown St

      APARTMENT HOUSE (5+ UNITS) • 5,766 SF
      2336 Brown St, Alton, IL 62002-3966
      View Details
    • Value Estimation
      $9,860,000
      11,988 SF

      17 Riv Reach Ct

      APARTMENT HOUSE (5+ UNITS) • 11,988 SF
      17 Riv Reach Ct, Alton, IL 62002-7397
      View Details
    • Value Estimation
      $9,910,000
      11,998 SF

      14 Riv Reach Ct

      APARTMENT HOUSE (5+ UNITS) • 11,998 SF
      14 Riv Reach Ct, Alton, IL 62002-7391
      View Details
    • Value Estimation
      $4,790,000
      76,022 SF

      1710 Muny Vis Dr

      APARTMENT HOUSE (100+ UNITS) • 76,022 SF
      1710 Muny Vis Dr, Alton, IL 62002-5633
      View Details
    • Value Estimation by Request
      4,622 SF

      1903 Park Ave

      APARTMENT HOUSE (5+ UNITS) • 4,622 SF
      1903 Park Ave, Alton, IL 62002-4782
      View Details
    • Value Estimation by Request
      7,560 SF

      2224 State St

      APARTMENT HOUSE (5+ UNITS) • 7,560 SF
      2224 State St, Alton, IL 62002-4380
      View Details

    Similar Nearby for Sale

    • $285,000
      33,150 SF

      Former School with Redevelopment Potential

      Former school building suitable for redevelopment into residential or commercial property.
      121 W Elm St, Alton, IL 62002
      View Details
    • $980,000
      0.33 Acres

      Alton Multifamily Investment Opportunity

      Two buildings with 14 units near dental college.
      2705 College Ave, Alton, IL 62002
      View Details
    • $285,000
      33,150 SF

      Former School with Redevelopment Potential

      Former school building suitable for redevelopment or community use.
      121 W Elm St, Alton, IL 62002
      View Details
    • $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
    • $225,000
      3,826 SF

      Alton Multifamily Investment Opportunity

      Charming five-unit building in Alton, Illinois, for sale.
      1011 State St, Alton, IL 62002
      View Details
    • $200,000
      2,275 SF

      Alton Multifamily Property Ready

      Multi-family property in historic district ready for redevelopment.
      427 E 4Th St, Alton, IL 62002
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      21,625 SF

      Prime Corner Retail Space Available

      Corner retail space with high visibility and flexible use options.
      92 Northport Dr, Alton, IL 62002
      View Details
    • Contact for pricing

      Alton Commercial Land For Rent

      Commercial land available for rent in Alton, Illinois.
      2600 Homer Adams Pkwy, Alton, IL 62002
      View Details
    • $2,948 /Mo

      Commercial Land Ready For Development

      Commercial land suitable for various development projects, high-traffic location.
      3412 Fosterburg Rd, Alton, IL 62002
      View Details
    • Contact for pricing

      Alton Retail Space For Lease

      Retail space available in Alton, Illinois with high traffic.
      1837 Homer 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
    • $665 /Mo
      500 SF

      Office Space in Honke Building

      Office space for lease in full-service building with parking.
      307 Henry St, Alton, IL 62002
      View Details
    View Listing
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    2705 College Ave
    Alton, IL 62002
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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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