Building Details

Year built 1960

Listing Agency: RE/MAX Preferred · RE/MAX International h***@gmail.com Show Phone

Listed By: Rebecca DeMond · License #475131653 Show Phone

Added: Sep 8 Changed: Oct 16 Last Checked: Oct 30 at 8:06AM

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MLS# 26057884

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This automotive property at 11 S State Street includes a building arranged for dealership or service operations. The interior features a showroom and reception area, office space, and a restroom, while the attached garage and service area includes two overhead doors. The property is currently used as a car dealership.

The site covers approximately 0.69 acres across two parcels, with a large paved lot along State Street. The paved area can accommodate vehicle inventory, customer parking, equipment, or other business needs. Built in 1960, the property combines an automotive-oriented building with an established paved site in Freeburg.

Key Highlights

• Approximately 0.69 acres across two parcels
• Building includes showroom and reception area, office, 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

Under-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

• U-Haul Neighborhood Dealer — 401 Marketplace Dr, Freeburg, IL 62243

Frequently Asked Questions

What type of property is this?

Automotive property - Automotive facility with a paved lot, customer-facing showroom, office, and attached service area.

Where is this automotive property 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: Approximately 0.69 acres across two parcels; Building includes showroom and reception area, office, and restroom; Attached garage and service area with two overhead doors