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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2736 Progress Ave Caseyville, IL 62232-2149

    • Drive through restaurants
    • 3,011 SF
    • 0.87 lot acres
    OFF-MARKET
    Last Sale
    May 11, 2022
    $1,506,000
    Value Estimations
    $1,370,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-5365034
    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

    • Drive through restaurants

    Property Details for 2736 Progress Ave

    Year built
    1999
    Lot size
    0.87 lot acres
    Property size
    3,011 SF
    Property type
    Drive through restaurants
    APN
    02-13-0-415-004
    APU
    2130415004

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,200,000
      ML approach
      $1,260,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Caseyville
    County
    St. Clair
    State
    Illinois
    Longitude
    -90.0441
    Latitude
    38.6174
    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
    2023
    $26,732
    $48,100
    $139,401
    $187,501
    -
    $144,300
    $418,203
    $562,503

    Comparable in this City

    • Value Estimation
      $1,820,000
      2,040 SF

      2413 Old Country Inn Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,040 SF
      2413 Old Country Inn Dr, Caseyville, IL 62232-2305
      View Details
    • Value Estimation
      $630,000
      4,068 SF

      8850 Petroff Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,068 SF
      8850 Petroff Dr, Caseyville, IL 62232-2329
      View Details
    • Value Estimation
      $560,000
      2,576 SF

      2411 Old Country Inn Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,576 SF
      2411 Old Country Inn Dr, Caseyville, IL 62232-2304
      View Details
    • Value Estimation by Request
      1,418 SF

      89th St

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,418 SF
      89th St, Caseyville, IL 62232
      View Details
    • Value Estimation
      $960,000
      5,216 SF

      1 Rauckman Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 5,216 SF
      1 Rauckman Dr, Caseyville, IL 62232-2322
      View Details
    • Value Estimation by Request
      1,786 SF

      405 Main St

      CONVENIENCE STORE • 1,786 SF
      405 Main St, Caseyville, IL 62232
      View Details

    Similar Nearby for Sale

    • $499,000
      6,405 SF

      Pool Hall/Bar Restaurant For Sale

      Pool hall/bar restaurant with ample parking and equipment included.
      519 N Main St, Caseyville, IL 62232
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    • $2,200,000
      5,896 SF

      Restaurant Building with High Visibility

      Second-generation restaurant with existing FF&E, ample parking, and signage.
      6900 N Illinois St, Fairview Heights, IL 62232
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    • $425,000
      4,764 SF

      Caseyville Office/Warehouse For Sale

      4,764 SF Office/Warehouse, Excellent Location
      8853 Petroff Dr, Caseyville, IL 62232
      View Details
    • $799,000
      7,820 SF

      Mixed-Use Property in Fairview Heights

      5,940 SF building with office, warehouse, and showroom space.
      5515 Old Collinsville Rd, Fairview Heights, IL 62232
      View Details
    • $400,000

      Cleared Land Ready for Construction

      2.09 acre site for sale or build to suit.
      5315 N Illinois St, Fairview Heights, IL 62232
      View Details
    • $79,900
      0.63 Acres

      Spacious Double Lot in Tanglewood

      Double lot in Tanglewood neighborhood, build your dream home!
      8038 Tahoe Rdg, Caseyville, IL 62232
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    Similar Nearby for Lease

    • Contact for pricing
      1,950 SF

      Retail Space with Drive-Thru Potential

      Retail spaces available in top-ranked Fairview Heights power center.
      5909 N Illinois St, Fairview Heights, IL 62232
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space in Fairview Heights

      2000 SF retail space with excellent visibility and access.
      5909-5961 N Illinois St, Fairview Heights, IL 62232
      View Details
    • $13 SF/Yr
      1,400 SF

      Fairview Heights Retail/Office Suites

      Office and retail suites available in established Fairview Heights center.
      4600-4660 N Illinois St, Fairview Heights, IL 62232
      View Details
    • $12 SF/Yr
      14,742 SF

      Retail Space in High-Traffic Area

      14,742 SF retail space with warehouse and high visibility.
      6100-6108 N Illinois St, Fairview Heights, IL 62232
      View Details
    • $13 SF/Yr
      2,500 SF

      Retail/Office Center in Fairview Heights

      Retail/office spaces available in high-traffic Fairview Heights location.
      5317-5327 N Illinois St, Fairview Heights, IL 62232
      View Details
    • $1,400,000
      1,716 SF

      Former Medical Office For Lease

      1,716 SF medical office space available for lease.
      5400 N Illinois St, Fairview Heights, IL 62232
      View Details
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    2736 Progress Ave
    Caseyville, IL 62232-2149
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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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