Building Details

Building Size 807 SF

Listing Agency: R & R Realty 1***@gmail.com Show Phone

Listed By: Tonya Crawford · License #471009760 Show Phone

Source: Shawneehillsrealestate

Added: Aug 17 Changed: Aug 20 Last Checked: Aug 20 at 9:35AM

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Investment Insights

Based on property information with market context.

This storefront property at 113 Park Road includes a kitchenette, an L-shaped bar, and a detached garage that provides additional storage. The building is positioned on a corner lot with access from Main St. and an oversized paved parking area that has received a fresh seal coat.

The property can accommodate an office, retail shop, barber shop, or salon, while gaming use is identified as possible subject to zoning approval. The listed zoning designation is Commericia. Its combination of storefront space, parking, service features, and detached storage supports several commercial configurations.

Key Highlights

• Corner lot with access from Main St.
• Oversized paved parking lot with fresh seal coat
• Kitchenette and L‑shaped bar included

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

$7,626

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

8.97%

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%

$152,520 $152.5K

Cap Rate 7%

$108,943 $108.9K

Cap Rate 9%

$84,733 $84.7K

Market Conditions

NOI Build-Up for 807 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

$12.1K $15.00/SF

− Vacancy

−$1.2K −$1.50/SF

EGI

$10.9K $13.50/SF

− OpEx

−$3.3K −$4.05/SF

NOI

$7.6K $9.45/SF

Area

Tazewell County, IL

Vacancy

10.00%

Lease Rate

$15.00 /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%

$152,520

Cap Rate 7%

$108,943

Cap Rate 9%

$84,733

Alternative Uses

Best Use

Retail

$108.9K

$95.3K – $127.1K (±1% cap)

NOI $7,626 @ 7.0% cap · market cap 8.97%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$315.8K

$276.3K – $368.4K (±1% cap)

NOI $22,105 @ 7.0% cap · market cap 26.01%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Storefront properties

Suggested Use

Top Pick Real Estate Agency Spa & Massage Center Pharmacy Auto Parts Store Nail Salon 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.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

203

Businesses Nearby

21k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Dollar General Shops & Services

7,535 visits/mo 0.1 miles

Casey's General Store Shops & Services

6,534 visits/mo 0.3 miles

Dollar General Shops & Services

5,364 visits/mo 0.3 miles

Lifes Path Transport Shops & Services

1,550 visits/mo 0.1 miles

Demographics for 61610, IL

4,942

Population

2,550

Households

1.9

Avg Household Size

41

Median Age

14%

College-Educated

89%

High-School Grad

4.1 sq mi

ZIP Area

1,205

Density / Sq Mi

$49,853

Median Household Income

$44,750

Median Earnings

$855

Median Rent

$86,500

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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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - Paved parking, a kitchenette, and detached storage add practical functionality.

Where is this storefront property located?

The property is located at 113 Park Road Creve Coeur, IL.

What is the asking price?

The asking price for this property is $85,000.

What are key features of this property?

This property features: Corner lot with access from Main St.; Oversized paved parking lot with fresh seal coat; Kitchenette and L‑shaped bar included