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    Property profile & analytics

    648 Carlyle Ave Belleville, IL 62221

    • Banks
    • 3,557 SF
    • 0.73 lot acres
    For Sale
    View listing
    $1,700,000
    Last Sale
    Apr 22, 2022
    $215,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2582328
    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

    • A&W Restaurant / Restaurant

    Property Details for 648 Carlyle Ave

    Year built
    1977
    Construction
    STEEL FRAME
    Lot size
    0.73 lot acres
    Property size
    3,557 SF
    Property type
    Banks
    APN
    08-23-0-401-076
    APU
    8230401076

    Description

    This exceptional 3,557-square-foot freestanding commercial building, located at 648 Carlyle Ave in Belleville, Illinois (zip code 62221), presents a unique investment opportunity. Currently operating as an A&W restaurant, this completely renovated property is ideally suited for a variety of uses, including retail, medical offices, or general office space. Its prime location in the heart of a bustling retail area ensures high visibility and excellent access for customers and employees. The building boasts prominent signage, including both building signage and a pylon sign, maximizing marketing potential. The asking price is $1,700,000. The property's versatile layout and high-traffic location make it an attractive prospect for savvy investors seeking a strong return on investment. Situated in St. Clair County, this property offers easy access to major transportation routes and a thriving local community. The building's recent renovation ensures it is move-in ready, minimizing upfront costs for the new owner. Don't miss this chance to acquire a highly visible and well-maintained commercial property in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $170,000
      ML approach
      $220,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $210,000
      Market price range: $210k - $377k

    • Alternative Use

      Use
      Estimation
      FINANCIAL BUILDING
      $270,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Belleville
    County
    St. Clair
    State
    Illinois
    Longitude
    -89.9558
    Latitude
    38.5162
    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
    $10,915
    $80,032
    $23,226
    $103,258
    -
    $240,096
    $69,678
    $309,774

    Comparable in this City

    • Value Estimation
      $335,000
      3,136 SF

      1900 Carlyle Ave

      FINANCIAL BUILDING • 3,136 SF
      1900 Carlyle Ave, Belleville, IL 62221-4564
      View Details
    • Value Estimation
      $490,000
      5,456 SF

      2 Carlyle Plz Dr

      FINANCIAL BUILDING • 5,456 SF
      2 Carlyle Plz Dr, Belleville, IL 62221-6677
      View Details
    • Value Estimation
      $540,000
      5,872 SF

      2020 Belt E

      FINANCIAL BUILDING • 5,872 SF
      2020 Belt E, Belleville, IL 62221-5505
      View Details
    • Value Estimation
      $375,000
      3,196 SF

      655 Carlyle Ave

      FINANCIAL BUILDING • 3,196 SF
      655 Carlyle Ave, Belleville, IL 62221-6224
      View Details
    • Value Estimation
      $340,000
      2,958 SF

      2500 Grn Mt Cmns Dr

      FINANCIAL BUILDING • 2,958 SF
      2500 Grn Mt Cmns Dr, Belleville, IL 62221-6741
      View Details
    • Value Estimation
      $975,000
      3,126 SF

      360 Grn Mt Rd

      FINANCIAL BUILDING • 3,126 SF
      360 Grn Mt Rd, Belleville, IL 62221-5881
      View Details

    Similar Nearby for Sale

    • $1,395,000
      3,557 SF

      Renovated Retail Building For Sale

      Freestanding, renovated retail building in high-traffic area.
      648 Carlyle Ave, Belleville, IL 62221
      View Details
    • $533,419
      7,925 SF

      Dollar General Investment Opportunity

      Single tenant Dollar General in Belleville, IL for sale.
      4 Wade Sq, Belleville, IL 62221
      View Details
    • Contact for pricing
      8,417 SF

      Freestanding Retail Building on Carlyle

      8,417 SF retail building on 0.99 acres for sale.
      1000 Carlyle Ave, Belleville, IL 62221
      View Details
    • $127,900
      1,437 SF

      Belleville Commercial Building with Equipment

      Turnkey commercial building with equipment in high-traffic Belleville location.
      507 Sherman St, Belleville, IL 62221
      View Details
    • $299,000
      2,600 SF

      Restaurant Building For Sale

      2,600 SF restaurant in high-traffic area, suitable for conversion.
      601 Carlyle Ave, Belleville, IL 62221
      View Details
    • $299,000
      2,600 SF

      Prime Belleville Restaurant Space

      2600 SF, High-Traffic Location, $299K
      601 Carlyle Ave, Belleville, IL 62221
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      23,600 SF

      Retail Space For Lease

      Retail spaces available with monument and building signage.
      1620-1680 Lebanon Ave, Belleville, IL 62221
      View Details
    • Contact for pricing
      3,410 SF

      Retail Space in Belleville, IL

      Retail space available for lease in Belleville, Illinois.
      1611 W Main St, Belleville, IL 62221
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space Near Major Retailers

      Retail space in high-traffic location near Belleville East High School.
      651 Carlyle Ave, Belleville, IL 62221
      View Details
    • Contact for pricing
      17,986 SF

      Retail Space in Carlyle Plaza

      Retail space available in a busy shopping center.
      100-110 Carlyle Plaza Dr, Belleville, IL 62221
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space in Carlyle Plaza

      Retail space available in a busy shopping center.
      20-76 Carlyle Plaza Dr, Belleville, IL 62221
      View Details
    • Contact for pricing
      5,856 SF

      Retail Space in Belleville, IL

      Retail space available in a busy shopping center.
      654-658 Carlyle Ave, Belleville, IL 62221
      View Details
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    Belleville, IL 62221
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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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