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    Fully Occupied Retail Building Title is generated by Realmo AI

    342-372 W Chrysler Dr, Belvidere, IL

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    15,000 SF retail building, part of shopping center.

    Type:RETAIL
    Property size:
    15,100 SF
    Lot size:
    2.69 Acres
    Price / SF:
    $184/SF
    Added:
    May 8, 2023
    Days on Market:
    1129
    Last Refresh:
    May 20 at 9:11 pm

    Property Features for 342-372 W Chrysler Dr

    General Information

    Standard status
    Active
    Size
    15,100 SF
    Lot size
    2.69 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Jennifer Berry
    Jennifer Berry

    Listing agent Jennifer Berry

    Listing office GAMBINO REALTORS-Rkfd

    Listing date May 8, 2023

    Source Moodyscre

    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 GAMBINO REALTORS-Rkfd

    HighLights

    • High Traffic Location: 15,000 vehicles per day.
    • Anchored by Regional Grocer: Fiesta Market.
    • Fully Occupied Retail Building.
    • Strong Residential Development Surroundings.
    • Multiple Access Points: Pearl St. and Chrysler Dr.
    • Building Size: 15,000 SF.

    Overview

    This 15,000 square feet fully occupied retail building is part of a shopping center anchored by a regional grocer, Fiesta Market. The high-traffic center experiences 15,000 vehicles per day and faces Highway 20, with access from Pearl Street and Chrysler Drive. It is surrounded by strong residential development.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $271.8k $18.00
    − Vacancy −$9.5k −$0.63
    EGI $262.3k $17.37
    − OpEx −$78.7k −$5.21
    NOI $183.6k $12.16
    15,100 SF · lease $18.00/SF/yr · vacancy 3.50% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $2.62M
    $2.30M – $3.06M (±1% cap)
    NOI $183,601 @ 7.0% cap · market cap 6.60%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $4.02M
    $3.51M – $4.69M (±1% cap)
    NOI $281,150 @ 7.0% cap · market cap 10.11%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Belvidere
    County
    Boone
    State
    Illinois
    Longitude
    -88.8423
    Latitude
    42.2394

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    FAQs

    What type of property is this?
    Shopping center - 15,000 SF retail building, part of shopping center.
    Where is this shopping center located?
    The property is located at 342-372 W Chrysler Dr Belvidere, IL.
    What is the asking price?
    The asking price for this property is $2,780,000.
    What are key features of this property?
    This property features: High Traffic Location: 15,000 vehicles per day.; Anchored by Regional Grocer: Fiesta Market.; Fully Occupied Retail Building.
    (815) 871-6156 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jennifer Berry
    Jennifer Berry
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