Building Details

Year Built 2020

Buildings 1

Stories 1

Listing Agency: Keller Williams Realty - Champaign

Listed By: Clayton Maddox · License #475.189441 Show Phone

Source: Crexi

Added: Jul 8 Changed: Sep 2 Last Checked: Sep 4 at 7:29PM

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Investment Insights

Based on property information with market context.

Key Highlights

• Meticulous commercial building built in 2020 in Tilton’s Commercial district
• Total of 15,904 SF: Shop 1 8,448 SF, Shop 2 5,280 SF, breezeway 576 SF, office 1,600 SF
• Ceiling height of 16' with 14' overhead door height

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$97,858

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

8.15%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$1,957,160 $2.0M

Cap Rate 7%

$1,397,971 $1.4M

Cap Rate 9%

$1,087,311 $1.1M

Market Conditions

NOI Build-Up for 15,904 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$126.0K $7.92/SF

− Vacancy

−$10.8K −$0.68/SF

EGI

$115.1K $7.24/SF

− OpEx

−$17.3K −$1.09/SF

NOI

$97.9K $6.15/SF

Area

Vermilion County, IL

Vacancy

8.60%

Lease Rate

$7.92 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$1,957,160

Cap Rate 7%

$1,397,971

Cap Rate 9%

$1,087,311

Alternative Uses

Best Use

Warehouse

$1.40M

$1.22M – $1.63M (±1% cap)

NOI $97,858 @ 7.0% cap · market cap 8.15%

Second Best

Industrial

$1.15M

$1.01M – $1.34M (±1% cap)

NOI $80,589 @ 7.0% cap · market cap 6.72%

Theoretical Best

Specialty Retail

$3.10M

$2.71M – $3.61M (±1% cap)

NOI $216,883 @ 7.0% cap · market cap 18.07%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Suggested Use

Top Pick Building Supply Law Firm Big Box & Wholesale Store Hair Salon Nail Salon Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

16 ft

Clear height

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

164

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 61832, IL

32,878

Population

16,390

Households

2

Avg Household Size

40

Median Age

17%

College-Educated

90%

High-School Grad

27.3 sq mi

ZIP Area

1,204

Density / Sq Mi

$45,264

Median Household Income

$37,288

Median Earnings

$805

Median Rent

$78,400

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

Where is this flex space located?

The property is located at 1 Hodge Street Tilton, IL.

What is the asking price?

The asking price for this property is $1,200,000.

What are key features of this property?

This property features: Meticulous commercial building built in 2020 in Tilton’s Commercial district; Total of 15,904 SF: Shop 1 8,448 SF, Shop 2 5,280 SF, breezeway 576 SF, office 1,600 SF; Ceiling height of 16' with 14' overhead door height