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    Galena Retail Space For Lease Title is generated by Realmo AI

    11358 Industrial Drive, Galena, IL 61036

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    For Lease
    $21 SF/Yr $9,896/Mo (calc)

    COMMERCIAL - Galena, IL

    Property size:
    5,655 SF
    Added:
    Jan 29, 2026
    Days on Market:
    107
    Last Refresh:
    May 16 at 8:06 pm

    Property Features for 11358 Industrial Drive

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    Commercial
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2
    Parking
    53
    Standard status
    Active
    APN
    13-001-078-09
    Size
    5,655 SF

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1978
    Floors in Building
    1
    Flooring type
    Concrete
    Building materials
    Brick, Stucco
    Roof type
    Rubber, Flat

    We can help!

    Listing Contact
    Tri State Commercial Group .

    Listing agent Tri State Commercial Group .

    Listing office Ruhl & Ruhl Realtors 600 Star Brewery Drive Suite 300, Dubuque, IL

    Listing date Jan 29, 2026

    MLS# 153864

    Copyright © 2026 East Central Iowa Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High traffic location: Nearly 11,000 cars pass daily
    • Rehabbed and remodeled in 2019
    • 1,655 SqFt of vacant space ready for business
    • Ample parking: 53 spaces, recently sealed and striped
    • Building size: 5,655 SqFt total
    • Owner may be open to dividing the space

    Overview

    This commercial building in Galena, Illinois, offers a space available for lease. The building, formerly a convenience store, was completely rehabbed and remodeled in 2019. The property has a total area of 5,655 square feet, with The Riverview Center leasing 4,000 square feet. A 1,655-square-foot vacant space is available. The location sees nearly 11,000 cars passing daily. The parking lot, recently sealed and striped, provides 53 parking spaces. The owner may consider dividing the space under the right circumstances. The property is zoned for commercial use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Riverview Center Social Service Agency The Fitness Foundry, LLC Gym & Fitness Center ATM Atm

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Auto Repair Shop Hair Salon Big Box & Wholesale Store Nail Salon Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Galena
    County
    Jo Daviess
    State
    Illinois
    Longitude
    -90.454808
    Latitude
    42.435641

    Nearby Similar for Lease

    • $12 SF/Yr
      4,065 SF

      Retail/Office Space in Galena

      Retail/office space available in Galena's shopping center.
      995 Galena Square Drive, Galena, IL 61036
      View Details
    • $1,500/Mo

      Historic Main Street Office/Retail Space

      Prime office/retail space with parking on historic Main Street.
      412 S Main, GALENA, IL 61036
      View Details
    • $8 SF/Yr
      4,065 SF

      Retail/Office Space in Galena Square

      4,065 SqFt retail/office space in Galena shopping center.
      995 Galena Square Drive, Galena, IL 61036
      View Details

    FAQs

    What type of property is this?
    Retail space - Remodeled retail space available in Galena with ample parking.
    Where is this retail space located?
    The property is located at 11358 Industrial Drive Galena, IL.
    What is the lease rate?
    The lease rate is $21 SF/Yr.
    What are key features of this property?
    This property features: High traffic location: Nearly 11,000 cars pass daily; Rehabbed and remodeled in 2019; 1,655 SqFt of vacant space ready for business
    (563) 564-9533
    We can help!
    Listing Contact
    Tri State Commercial Group .
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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