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    Property profile & analytics

    Mount Vernon, IL 62864

    • Industrial properties
    OFF-MARKET
    Last Sale
    May 25, 2022
    $346,500
    Value Estimations
    $380,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-3548749
    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

    • Industrial properties

    Property Details for Mount

    Property type
    Industrial properties
    APN
    11-06-427-015
    APU
    1106427015

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Estimation
      $385,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $400,000
      6.5%
      $355,000
      7%
      $405,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $365,000
      Geo Method
      $395,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $430,000
      Retail
      $430,000
      Mixed-Use
      $355,000
      Hospitality
      $335,000
      Educational
      $435,000
      Residential Income
      $380,000
      Energy
      $360,000
      Income-Based Land
      $330,000
      Food Service
      $430,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Vernon
    County
    Jefferson
    State
    Illinois
    Longitude
    -88.908
    Latitude
    38.2949
    CBSA code
    34500
    CBSA name
    MOUNT VERNON, IL MICROPOLITAN 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
    2021
    $9,276
    $3,309
    $110,404
    $113,713
    -
    $9,927
    $331,212
    $341,139

    Comparable in this City

    • Value Estimation by Request
      22.89 Acres

      Wl By-Pass

      Land • 22.89 Acres
      0 Wl By-Pass, Mount Vernon, IL 62864
      View Details
    • Value Estimation by Request

      1313 Harlan Rd

      INDUSTRIAL (GENERAL)
      1313 Harlan Rd, Mount Vernon, IL 62864-6014
      View Details
    • Value Estimation by Request

      718 Shawnee St

      INDUSTRIAL (GENERAL)
      718 Shawnee St, Mount Vernon, IL 62864-5328
      View Details
    • Value Estimation by Request
      3.00 Acres

      2501 10Th St

      Distribution properties • 16,769 SF
      2501 10Th St, Mount Vernon, IL 62864
      View Details
    • Value Estimation by Request

      1525 Herbert St Rear Of

      INDUSTRIAL (GENERAL)
      1525 Herbert St Rear Of, Mount Vernon, IL 62864-5651
      View Details
    • Value Estimation by Request

      9221 Il Highway 15

      Distribution properties
      9221 Il Highway 15, Mount Vernon, IL 62864
      View Details

    Similar Nearby for Sale

    • $450,000

      Mt. Vernon Commercial Complex

      High-Yield Investment Opportunity: 95% Occupied
      1300 George St, Mount Vernon, IL 62864
      View Details
    • Contact for pricing
      22.89 Acres

      Prime Mount Vernon Commercial Land

      22.89 Acres, Industrial Zoning
      0 Wl By-Pass, Mount Vernon, IL 62864
      View Details
    • Contact for pricing
      1.00 Acre

      Mt. Vernon, IL Development Opportunity

      Prime Mixed-Use Development Site in Illinois
      41 Mateer Dr, Mount Vernon, IL 62864
      View Details
    • $365,000

      Thriving IL Gaming & Venue

      Turnkey Entertainment Business, $365K
      2845 Benton Rd, Mount Vernon, IL 62864
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    • $145,000

      Mt. Vernon Warehouse - $145K

      Spacious Warehouse, Ample Parking, 4.49 Acres
      500 Gee St, Mount Vernon, IL 62864
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    • $3,518,000
      55.94 Acres

      Davidson Ave Commercial Land

      55 Acres, Prime Industrial Location
      0 Davidson Ave, Mount Vernon, IL 62864
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    Similar Nearby for Lease

    • $0.71 SF/Yr
      2,096 SF

      Broadway Street Commercial Property

      Versatile Commercial Space, High Traffic Area
      2003 Broadway St, Mount Vernon, IL 62864
      View Details
    • $4 SF/Yr
      3,900 SF

      Prime Flex Space, 34th Street

      Downtown Flex Space - Ready to Build Out
      412 34Th St, Mount Vernon, IL 62864
      View Details
    • Contact for pricing
      17,091 SF

      Times Square Mall Retail Spaces

      Prime Mt. Vernon retail space available.
      0 42Nd St, Mount Vernon, IL 62864
      View Details
    • $38 SF/Yr
      125 SF

      815 Broadway: Prime Commercial Space

      Updated Office Space, Parking Included
      815-3 Broadway St, Mount Vernon, IL 62864
      View Details
    • Contact for pricing

      Customizable Office Space on Broadway

      High-visibility office space for lease in Mt Vernon, IL.
      3405 W Broadway St Mt, Vernon, IL 62864
      View Details
    • Contact for pricing
      25,700 SF

      Mt Vernon Office Space Available

      Office space with private offices, training room, and reception area.
      128 N 3 St Mt, Vernon, IL 62864
      View Details
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    Vernon, IL 62864
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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.

    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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