3214 Illinois StSwansea, IL 62226

Property Details for 3214 Illinois St

Year built

1957

Construction

WOOD

Lot size

0.55 AC

Property size (Sq ft)

1,821 SF

Property type

Commercial real estate

APN

08-09-0-205-010

APU

8090205010

Description

This 3,000 square foot Class B executive office building, situated on a 0.55-acre lot in Belleville, Illinois (zip code 62226), presents a unique investment opportunity. Built in 1957, this two-story property features a main level with a reception/waiting area, four exam rooms, and two offices, complemented by an elevated deck. The finished walkout basement includes a kitchenette, a large sitting/break area, a bathroom with a shower, and a spacious room suitable for various uses, potentially as an apartment or additional office space. The property boasts 25 parking spaces, including additional parking in the rear. Zoned PB, this high-visibility location on Highway 159 offers excellent potential for medical or professional use, benefiting from high traffic volume. The rear of the 0.55-acre lot is heavily wooded, providing a tranquil backdrop. The asking price is $299,500, translating to $125 per square foot. The property's APN is 08-09.0-205-010. This gross lease property is currently a single tenancy.

• CAP approach

  CAP return

  Valuation

  6%

  $471,871

  6.5%

  $435,573

  7%

  $404,461

• Comparable approach

  Method

  Valuation

  Relative Method

  $141,965

  Geo Method

  $141,965

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $859,327

  Retail / Commercial

  $440,309

  Mixed-Use / Specialty

  $438,464

  Hospitality / Lodging

  $321,329

  Office

  $435,573

  Institutional / Educational

  $455,728

  Residential Income

  $533,202

  Multifamily

  $641,018

  Automotive / Energy

  $390,624

  Parking / Income-Based Land

  $135,071

  Restaurant / Food Service

  $227,462

  Healthcare / Senior Housing

  $449,919

Location Insight

City

Swansea

County

St. Clair

State

Illinois

Latitude

38.5505

Longitude

-89.9837

CBSA code

41180

CBSA name

ST. LOUIS, MO-IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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