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    481 Frank Scott Pkwy W Belleville, IL 62223
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    481 Frank Scott Pkwy W Belleville, IL 62223

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    • Commercial land
    For Sale
    $1,179,360
    View Listing →
    Land For Sale
    $1,179,360
    65.52 Acres

    Land

    Commercial land · 65.52 Acres

    481 Frank Scott Pkwy W, Belleville, IL 62223
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    Property ID
    US28-2057591
    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

    • Commercial land

    Property Details for 481 Frank Scott Pkwy W

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    Description: 65.52 Acre Development Site Available for sale with 1,200 FT Frontage on Frank Scott Parkway West. Averages 12,900 vehicles of daily traffic. Seller Will Divide. Located a half of mile from the intersection of Frank Scott parkway and IL Rt 159. Just 2.5 Miles to I-64, Exit 12.

    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
    Belleville
    County
    St. Clair
    State
    Illinois
    Longitude
    -89.9967675
    Latitude
    38.5749717

    Comparable in this City

    • $74,000
      1.50 Acres

      Belleville Land with Highway Frontage

      Two commercial lots with highway frontage and available utilities.
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      Commercial Site on Magna Drive

      2.35 acre commercial site with utilities in TIF district.
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    • $1,179,360

      65.52 Acre Development Site

      Development site with 1,200 FT frontage on Frank Scott Parkway.
      481 Frank Scott Pkwy, Belleville, IL 62223
      View Details
    • Contact for pricing

      Mixed-Use Development Site Available

      11.44 acre mixed-use development site for sale.
      1211 Frank Scott Pkwy W, Belleville, IL 62223
      View Details
    • Contact for pricing

      Commercial Lots For Sale

      Two commercial lots totaling 2.35 acres, divisible to 1.14 acres.
      7500 Magna Dr, Belleville, IL 62223
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    • $954,835

      10.96 Acre Commercial Site

      Commercial site available in TIF District & Enterprise Zone.
      Sheffield Dr, Belleville, IL 62223
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    Similar Nearby for Sale

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      14.27 Acre Commercial Site

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      Commercial Site Near UPS Center

      16.76 acre commercial site available near UPS Distribution Center.
      Illini Dr, Belleville, IL 62223
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      Commercial Development Site Available

      16.76-acre commercial development site in TIF District & Enterprise Zone.
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      Commercial Site For Sale

      14.27 acre commercial site zoned C-1 with utilities.
      8109 Il-15, Belleville, IL 62223
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      Frank Scott Parkway Land Available

      1.78 acre commercial land near West Main Street.
      1941 Frank Scott Pkwy, Belleville, IL 62223
      View Details
    • Contact for pricing

      Belleville Commercial Land For Sale

      0.81 acre lot in office/retail corridor off West Main.
      6401 W Main St, Belleville, IL 62223
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      520 SF

      Shiloh Parkway Plaza Office Suites

      Office suites for lease in high-growth Shiloh Parkway Plaza.
      1207 Frank Scott Pkwy, Shiloh, IL 62223
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    • Contact for pricing

      Renovated Co-working Shared Space

      Newly renovated co-working space with professional and affordable amenities.
      6500 W Main St, Belleville, IL 62223
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      18,309 SF

      Belleville Office Space for Lease

      Professional office suites available with highway visibility and ample parking.
      7650 Magna Dr, Belleville, IL 62223
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    • Contact for pricing
      12,340 SF

      Belleville Office/Warehouse Space Available

      12,340 SF office/warehouse space for lease in Belleville, IL.
      9480 State Route 15, Belleville, IL 62223
      View Details
    • Contact for pricing

      Retail Space in Belleville

      Retail space in a dynamic Belleville location.
      1609 W Main St, Belleville, IL 62223
      View Details
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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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