105 E State Route 71, Newark, IL 60541

Listing Agency: eXp Realty i***@exprealty.net Show Phone

Listed By: Brittany Zickus · License IL #475197951 Show Phone

Source: Exprealty

Added: May 7, 2024 Changed: Nov 12 Last Checked: Nov 12 at 12:07PM

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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

Who owns this building? See the owner, sales and loan history

Open Analytics

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

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