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

    4204 Frank Scott Pkwy Belleville, IL 62223

    • Commercial real estate
    • 61.00 lot acres
    For Sale
    View listing
    $2,482,920
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2183716
    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

    • Commercial real estate

    Property Details for 4204 Frank Scott Pkwy

    Lot size
    61.00 lot acres
    Property type
    Commercial real estate
    APN
    08-19.0-300-007

    Description

    This exceptional 61-acre parcel presents a significant development opportunity in Belleville, Illinois. Located at 4204 Frank Scott Pkwy W, this commercially and residentially zoned (A-1 Single Family) property boasts over 2,400 feet of frontage along Frank Scott Parkway West. The land is level and easily divisible, making it ideal for a variety of projects. All utilities are available on-site, simplifying development plans. The property benefits from its location within a Tax Increment Financing (TIF) district and Enterprise Zone, offering potential economic incentives. Its strategic position across from Belleville West Township High School and a quarter-mile south of Route 15 provides excellent visibility and accessibility. The surrounding area features a thriving commercial corridor, anchored by major retailers such as Home Depot and Target, and numerous auto dealerships, ensuring high traffic volume and strong potential for commercial success. The asking price is $2,482,920, with a land value of $0.95 per square foot. The APN is 08-19.0-300-007. This is a rare opportunity to acquire a substantial tract of land in a high-growth area with significant development potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Belleville
    County
    St Clair
    State
    Illinois
    Longitude
    -90.033872
    Latitude
    38.516255

    Comparable in this City

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    • $335,275

      Development Site on Frank Scott

      13.41 acre development site for sale with utilities.
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      0.50 Acres

      Residential Land in Established Neighborhood

      Two parcels totaling 0.5 acres for building a dream home.
      29 Highwood Dr, Belleville, IL 62223
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    • $55,000

      Corner Land Parcel For Sale

      One acre of land at Frank Scott Parkway and Memory Lane.
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    • $170,000
      12.22 Acres

      Vacant Land Along Route 15

      12.22 acres of vacant land with many possibilities.
      8100 Excellence Pl, Belleville, IL 62223
      View Details

    Similar Nearby for Sale

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      Belleville, IL Multifamily Investment

      Prime 40,896 SF building, 4 acres, great potential.
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    • $1,047,190
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    • $289,000
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      Belleville Industrial Land - $289K

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      76.80 Acres for Development

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    Similar Nearby for Lease

    • Contact for pricing
      1 SF

      Belleville, IL Commercial Land

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    • $17 SF/Yr
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      Retail Space in Belleville, IL

      Retail space available for lease in Belleville, Illinois.
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    • $21 SF/Yr
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      Belleville Office Suites Available

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    Belleville, IL 62223
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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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