Corner Auto Shop
New
For Sale
$229,000
1114 S Galena Avenue, Dixon, IL 61021
Tenant-occupied brick commercial building on a prominent corner lot.
Property Size2,700 SF
Days on Market6
Property Features for 1114 S Galena Avenue
General Information
Standard status
Active
Size
2,700 SF
Property subtype
Commercial
Site & Location
Traffic Count
18,000 vehicles/day
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,108
Building Details
Building Size
2,700 SF
Year Built
1930
Buildings
1
Stories
1
Units
1
Construction
brick
Listing Agency:
Sauk Valley Properties LLC
(815) 288-2881
Listed By:
Beth Wilson · License #471010296
(815) 288-2881
Source:
Perillorealestategroup
Added: Aug 6
Changed: Aug 7
Last Checked: Aug 10 at 11:30AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Sauk Valley Properties LLC
Investment Insights
Based on property information with market context.
This tenant-occupied auto shop property includes a brick commercial building constructed in 1930. The offering consists of the real estate and building only; the existing independent business is not included in the sale.
The property occupies a corner lot along S. Galena Avenue in Dixon, Illinois, with reported exposure to more than 18,000 vehicles daily. Its street frontage and corner positioning provide a clear commercial presence along the corridor. The current tenant remains in place, providing an existing occupancy arrangement for the property.
The property occupies a corner lot along S. Galena Avenue in Dixon, Illinois, with reported exposure to more than 18,000 vehicles daily. Its street frontage and corner positioning provide a clear commercial presence along the corridor. The current tenant remains in place, providing an existing occupancy arrangement for the property.
Key Highlights
- Brick auto shop building constructed in 1930
- Tenant‑occupied property with an independent existing tenant
- Corner lot on S. Galena Avenue
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,813
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.22%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$376,260
$376.3K
Cap Rate 7%
$268,757
$268.8K
Cap Rate 9%
$209,033
$209.0K
Market Conditions
NOI Build-Up for 2,700 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$28.4K $10.50/SF
− Vacancy
−$1.5K −$0.55/SF
EGI
$26.9K $9.95/SF
− OpEx
−$8.1K −$2.99/SF
NOI
$18.8K $6.97/SF
Area
Lee County, IL
Vacancy
5.20%
Lease Rate
$10.50 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$376,260
Cap Rate 7%
$268,757
Cap Rate 9%
$209,033
Alternative Uses
Best Use
Retail
$473.4K
$414.2K – $552.3K
NOI $33,135 @ 7.0% cap · market cap 14.47%
Second Best
Industrial
$268.8K
$235.2K – $313.6K
NOI $18,813 @ 7.0% cap · market cap 8.22%
Theoretical Best
Office A
$735.9K
$644.0K – $858.6K
NOI $51,516 @ 7.0% cap · market cap 22.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18,000 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
951
Businesses Nearby
73k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 66%
Shops & Services 33%
Home Improvements & Furnishings 1%
McDonald's
Dining
29,689 visits/mo
0.4 miles
Circle K
Shops & Services
12,237 visits/mo
0.5 miles
Wendy's
Dining
9,188 visits/mo
0.4 miles
Hardee's
Dining
6,021 visits/mo
0.3 miles
Dollar General
Shops & Services
4,880 visits/mo
0.3 miles
Demographics for 61021, IL
22,984
Population
10,110
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
89%
High-School Grad
150.1 sq mi
ZIP Area
153
Density / Sq Mi
$65,719
Median Household Income
$40,805
Median Earnings
$823
Median Rent
$144,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Precision Automotive — 810 S Dement Ave, Dixon, IL 61021
- Walmart Auto Care Centers — 1640 S Galena Ave, Dixon, IL 61021
- Payne Automotive — 107 Keul Rd, Dixon, IL 61021
- Breedlove's 24 Hour Towing — 1114 s galena ave, dixon, il 61021
- Breedlove's Automotive — 1114 S Galena Ave, Dixon, IL 61021
Frequently Asked Questions
What type of property is this?
Auto shop - Tenant-occupied brick commercial building on a prominent corner lot.
Where is this auto shop located?
The property is located at 1114 S Galena Avenue Dixon, IL.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: Brick auto shop building constructed in 1930; Tenant‑occupied property with an independent existing tenant; Corner lot on S. Galena Avenue
