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    348 State Highway 121 Bethany, IL 61914

    Sponsored
    For Sale
    $1,250,000

    High-traffic retail space, excellent visibility.

    Property size:
    7,500 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    351
    This exceptional 7,500 square foot retail property, located at 348 State Highway 121 in Bethany, Illinois, presents a unique investment opportunity. Priced at $1,250,000, this property boasts a highly desirable location on State Highway 121, ensuring excellent visibility and accessibility for potential customers. The building's substantial size offers ample space for a variety of retail uses, making it suitable for a wide range of businesses. The property sits on a lot with no additional acreage, focusing the investment entirely on the building itself. Its prime location on a busy state highway guarantees high traffic volume, providing significant potential for customer engagement and business growth. This is an ideal opportunity for an established business seeking expansion or a new venture looking for a strong foothold in a thriving community. The property's size and location combine to create a compelling investment prospect with significant potential for return. Serious inquiries are encouraged to explore this exceptional retail space and its potential to generate substantial revenue. The property is ready for immediate occupancy, allowing for a swift transition and commencement of operations. This is a rare opportunity to acquire a well-situated, sizable retail property in a desirable location.

    Property Features for 348 State Highway 121

    General Information

    Property type
    Retail properties
    Square Feet
    7,500 SF

    Building Details

    Year Built
    2017

    We can help!

    Listing Contact
    Alex Ruggieri

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail properties

    Suggested Use

    Restaurant Spa & Massage Auto Repair Shop Hair Salon Nail Salon Auto Parts Store Kitchen & Bath Storage Facility HVAC Service Bar & Pub

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bethany
    County
    Moultrie
    State
    Illinois
    Longitude
    -88.74505
    Latitude
    39.65258

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    Nearby Similar for Sale

    • $1,250,000
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    FAQs

    What type of property is this?
    Retail property - High-traffic retail space, excellent visibility.
    Where is this retail property located?
    The property is located at 348 State Highway 121 Bethany, IL.
    What is the asking price?
    The asking price for this property is $1,250,000.
    Request Owner's contact information
    348 State Highway 121 Bethany, IL 61914
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    Bethany, IL 61914
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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
    348 State Highway 121 Bethany, IL 61914
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    Listing Contact
    Alex Ruggieri
    Learn more
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