4510 N Illinois Street
Value-Add Retail Center with Approved Expansion Opportunity
Marketing description
Millstone Plaza offers investors a rare opportunity to acquire an income-producing retail center with significant upside in the heart of Swansea's thriving commercial corridor. Situated on approximately 2.28 acres along highly traveled Illinois Route 159, the property features a well-maintained 6,000 SF multi-tenant retail building plus an adjacent development-ready lot approved for future expansion.
The existing center consists of four 1,500 SF suites designed to accommodate a variety of retail, office, service, and professional users. Investors benefit from immediate income generation while retaining the ability to increase value through future development.
With approvals already in place for up to nine additional units, Millstone Plaza provides a compelling value-add opportunity in a market experiencing continued residential and commercial growth.
Investment highlights
✔ Income-Producing Retail Center
- 6,000 SF multi-tenant building
- Four 1,500 SF suites
- Established retail center with strong visibility
✔ Value-Add Development Potential
- Additional lot approved for expansion - infrastructure already in place
- Potential for up to nine additional units
- Opportunity to substantially increase NOI and property value
✔ Prime Commercial Corridor Location
- Frontage on Illinois Route 159
- Approximately 95 feet of frontage on Smelting Works Road
- High daily traffic counts and excellent exposure
✔ Excellent Accessibility
- Approximately 2 miles from Interstate 64
- Convenient access to Belleville, O'Fallon, Fairview Heights, Shiloh, and downtown St. Louis
✔ Strong Market Fundamentals
- Located within one of the Metro East region's most active retail corridors
- Supported by surrounding residential growth and established commercial development
- Close proximity to major retailers, healthcare facilities, and employment centers
✔ Flexible Exit Strategies
- Hold for stable cash flow
- Develop approved expansion
- Owner-user opportunity with supplemental rental income
- Potential future condominium or phased development options
Listing Contacts
Valuation Calculator
Valuation Metrics
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
