Building Details

Building Size 2,800 SF

Year Built 1960

Buildings 1

Listing Agency: RE/MAX Preferred s***@remax.net Show Phone

Listed By: Rebecca DeMond · License #475131653 Show Phone

Source: Flowershomerealty

Added: Sep 8 Changed: Oct 23 Last Checked: Oct 23 at 1:27PM

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Investment Insights

Based on property information with market context.

This auto shop occupies two parcels totaling approximately 0.69 acres and includes a 2,800-square-foot building. The interior has a showroom and reception area, office space, and a restroom, with an attached garage and service area served by two overhead doors. The property was built in 1960 and is currently used as a car dealership.

The site is at 11 S State Street in Freeburg, Illinois. A large paved area provides space for vehicle inventory and customer parking.

Key Highlights

• 2,800‑square‑foot building on approximately 0.69 acres across two parcels
• Showroom and reception area, office space, and restroom
• Attached garage and service area with two overhead doors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$27,977

Cap Rate

5.09%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$559,540 $559.5K

Cap Rate 7%

$399,671 $399.7K

Cap Rate 9%

$310,856 $310.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,800 SF

Gross rent

$43.7K $15.60/SF

− Vacancy

−$3.7K −$1.33/SF

EGI

$40.0K $14.27/SF

− OpEx

−$12.0K −$4.28/SF

NOI

$28.0K $9.99/SF

Area

St. Clair County, IL

Vacancy

8.50%

Lease Rate

$15.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$559,540

Cap Rate 7%

$399,671

Cap Rate 9%

$310,856

Alternative Uses

Best Use

Retail

$399.7K

$349.7K – $466.3K (±1% cap)

NOI $27,977 @ 7.0% cap · market cap 5.09%

Second Best

Industrial

$257.2K

$225.0K – $300.1K (±1% cap)

NOI $18,003 @ 7.0% cap · market cap 3.27%

Theoretical Best

Office A

$662.9K

$580.0K – $773.3K (±1% cap)

NOI $46,400 @ 7.0% cap · market cap 8.44%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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

Open Analytics

Current Use

KENNEDI GOLF CART ... Hardware & Home Improvement

Suggested Use

Top Pick Law Firm Real Estate Agency Hair Salon Plumbing Service Bakery (Bike/Boat/Book/etc) Store

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

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

206

Businesses Nearby

21k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 83% Dining 17%

MotoMart Shops & Services

15,510 visits/mo 0.4 miles

SUBWAY Dining

2,181 visits/mo 0.5 miles

Regions Bank Shops & Services

1,947 visits/mo 0.1 miles

Pizza Hut Dining

1,395 visits/mo 0.1 miles

Demographics for 62243, IL

5,796

Population

2,537

Households

2.3

Avg Household Size

45

Median Age

34%

College-Educated

95%

High-School Grad

51.7 sq mi

ZIP Area

112

Density / Sq Mi

$93,328

Median Household Income

$48,947

Median Earnings

$1,100

Median Rent

$268,200

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

Similar Off Market Nearby

• Dressler Truck Services — 409 w apple st, freeburg, il 62243
• Dean's Auto Body & Sales — 101 S State St, Freeburg, IL 62243
• Pickers On Wheels — 203 S State St, Freeburg, IL 62243
• Bill's Auto Services — 410 N State St, Freeburg, IL 62243
• affordable automotive — 302 N State St, Freeburg, IL 62243

Frequently Asked Questions

What type of property is this?

Auto shop - A paved lot supports vehicle inventory and customer parking alongside the building’s office and service areas.

Where is this auto shop located?

The property is located at 11 S State Street Freeburg, IL.

What is the asking price?

The asking price for this property is $550,000.

What are key features of this property?

This property features: 2,800‑square‑foot building on approximately 0.69 acres across two parcels; Showroom and reception area, office space, and restroom; Attached garage and service area with two overhead doors