Listing Agency: Cissell Mueller Company Show Phone

Listed By: Robert D Cissell · License #1999024539 Show Phone

Source: Moodyscre

Added: Oct 24, 2024 Changed: Oct 5 Last Checked: Oct 21 at 12:14AM

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Investment Insights

Based on property information with market context.

This property features a 10,640 square foot freestanding mini-market store currently under construction. The absolute NNN lease has an annual rent of $120,837.48. New lease terms include 5% rent increases every 5 years. The lease term is 15 years, with an anticipated opening in early May 2025. The sale price is $1,859,038.15, reflecting a 6.5% CAP rate, with an average CAP rate of 6.83% over the 15-year term. The property is located at 601 S Moreland Rd, Bethalto, IL.

Key Highlights

• 15‑Year Absolute NNN Lease
• Freestanding 10,640 SF Building
• Attractive 6.5% CAP Rate

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$130,578

Cap Rate

7.05%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,611,560 $2.6M

Cap Rate 7%

$1,865,400 $1.9M

Cap Rate 9%

$1,450,867 $1.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,640 SF

Gross rent

$191.5K $18.00/SF

− Vacancy

−$5.0K −$0.47/SF

EGI

$186.5K $17.53/SF

− OpEx

−$56.0K −$5.26/SF

NOI

$130.6K $12.27/SF

Area

Madison County, IL

Vacancy

2.60%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,611,560

Cap Rate 7%

$1,865,400

Cap Rate 9%

$1,450,867

Alternative Uses

Best Use

Retail

$1.87M

$1.63M – $2.18M (±1% cap)

NOI $130,578 @ 7.0% cap · market cap 7.05%

Second Best

Specialty Retail

$1.80M

$1.58M – $2.10M (±1% cap)

NOI $126,189 @ 7.0% cap · market cap 6.82%

Theoretical Best

Office A

$2.90M

$2.54M – $3.38M (±1% cap)

NOI $203,011 @ 7.0% cap · market cap 10.97%

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

Property Analytics

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Current Use

Grocery and convenience stores

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Restaurant Hair Salon Auto Parts 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.

Location Intelligence

Trade Area within ½ mile

230

Businesses Nearby

17k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 73% Dining 27%

Dollar Tree Shops & Services

9,790 visits/mo 0.4 miles

SUBWAY Dining

2,622 visits/mo 0.4 miles

Valvoline Instant Oil Change Shops & Services

2,003 visits/mo 0.3 miles

Domino's Pizza Dining

1,917 visits/mo 0.3 miles

Extra Space Storage Shops & Services

388 visits/mo 0.4 miles

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Frequently Asked Questions

What type of property is this?

Grocery and convenience store - 10,640 SF freestanding building with NNN lease in Bethalto, IL.

Where is this grocery and convenience store located?

The property is located at 601 S Moreland Rd Bethalto, IL.

What is the asking price?

The asking price for this property is $1,851,097.

What are key features of this property?

This property features: 15‑Year Absolute NNN Lease; Freestanding 10,640 SF Building; Attractive 6.5% CAP Rate