Listing Agency: eXp Realty b***@smalltownsells.com Show Phone

Listed By: Brittany Zickus · License #475197951 Show Phone

Source: Exprealty

Added: Jul 15, 2024 Changed: Aug 8 Last Checked: Jul 21 at 6:34AM

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Investment Insights

Based on property information with market context.

This retail space is located in the growing city of Newark, Illinois, in a prime location off of Route 71 and within walking distance of downtown Newark. The property is impeccably maintained and well-run. The property offers a 7.16% cap rate. The owner is open to staying on and continuing to operate for a new landlord or vacating for an owner/operator.

Key Highlights

• 7.16% Cap Rate
• Prime location off Rte. 71 and walking distance to downtown Newark
• NNN Triple Net Lease

Property Analytics

Property Profile

Current Use

Retail space

Suggested Use

Top Pick HVAC Service Electrical Service Furniture & Home Goods Grocery & Convenience Store Pharmacy Hair Salon

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

Location Intelligence

Trade Area within ½ mile

81

Businesses Nearby

5k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Dollar General Shops & Services

4,538 visits/mo 0.2 miles

Demographics for 60541, IL

3,061

Population

1,189

Households

2.6

Avg Household Size

41

Median Age

27%

College-Educated

96%

High-School Grad

83.1 sq mi

ZIP Area

37

Density / Sq Mi

$119,063

Median Household Income

$50,441

Median Earnings

$1,547

Median Rent

$302,900

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Retail space - Retail space in prime location with solid cap rate.

Where is this retail space located?

The property is located at 105 E State Route 71 Newark, IL.

What is the asking price?

The asking price for this property is $1,995,000.

What are key features of this property?

This property features: 7.16% Cap Rate; Prime location off Rte. 71 and walking distance to downtown Newark; NNN Triple Net Lease