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    New Baden Retail Space Available Title is generated by Realmo AI

    1219 E Cedar Street 6, New Baden, IL 62265

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    For Lease
    $2,000/Mo $24 SF/Yr (calc)

    Retail spaces available in New Baden Center retail strip.

    Type:Rental
    Property size:
    1,000 SF
    Lot size:
    0.90 Acres
    Added:
    Sep 10, 2024
    Days on Market:
    619
    Last Refresh:
    May 19 at 10:58 pm

    Property Features for 1219 E Cedar Street 6

    General Information

    Standard status
    Active
    Size
    1,000 SF
    Lot size
    0.90 Acres
    Property subtype
    Rental

    Building Details

    Year Built
    2024

    We can help!

    Listing Contact
    Jay Kehrer

    Listing agent Jay Kehrer License #475166243

    Listing office Strano & Associates

    Listing date Sep 10, 2024

    Source Exitrealty

    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 Strano & Associates

    HighLights

    • New retail space in a developing center.
    • Units can be combined for larger spaces (Units 4‑7).
    • Customizable to suit various business needs.
    • High‑visibility corner location in a retail center.
    • New Village Hall, Police Department, & Emergency Services being built nearby.
    • Suitable for a variety of businesses (restaurant, salon, shop, etc.).

    Overview

    Multiple retail spaces are available for lease in the New Baden Center retail strip, with individual units offering 1000 sq ft. Combining multiple units is an option for businesses requiring more space. Unit 1, a triple unit, is already leased and will be occupied by a trade contractor business with future plans for a distribution center. Unit 2 is leased to State Farm Insurance. Unit 3 is rough framed to 1000 sq ft. Units 4-7 are currently open and can be easily combined. Each unit can be customized to suit specific business needs. The location is suitable for a variety of businesses, including restaurants, nail salons, boutiques, ice cream shops, specialty food shops, gyms or sport studios, cleaning services, vacation services, and consultant services. This location is ideal for businesses ready to transition from a home-based operation to an official location. The property benefits from its corner location within a retail center. The City of New Baden has purchased the ground across Cedar Street and is currently constructing a new Village Hall, Police Department, and Emergency Services at that location.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    New Baden
    County
    Clinton
    State
    Illinois
    Longitude
    -89.687736
    Latitude
    38.537581

    Nearby Similar for Lease

    • $2,000/Mo
      1,000 SF

      New Baden Retail Space Available

      Retail spaces available in New Baden Center retail strip.
      1219 E Cedar Street, New Baden, IL 62265
      View Details
    • $2,000/Mo
      1,000 SF

      New Baden Retail Space Available

      Retail spaces available in New Baden Center retail strip.
      1219 E Cedar Street, New Baden, IL 62265
      View Details
    • $2,000/Mo
      1,000 SF

      New Baden Retail Space Available

      Retail spaces available in New Baden Center retail strip.
      1219 E Cedar Street, New Baden, IL 62265
      View Details
    • $2,000/Mo
      1,000 SF

      New Baden Retail Space Available

      Retail spaces available in New Baden Center retail strip.
      1219 E Cedar Street, New Baden, IL 62265
      View Details
    • $2,000/Mo
      1,000 SF

      New Baden Retail Strip Center

      Retail spaces available in New Baden Center retail strip.
      1219 E Cedar Street, New Baden, IL 62265
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail spaces available in New Baden Center retail strip.
    Where is this retail space located?
    The property is located at 1219 E Cedar Street 6 New Baden, IL.
    What is the lease rate?
    The lease rate is $2,000 /Mo.
    What are key features of this property?
    This property features: New retail space in a developing center.; Units can be combined for larger spaces (Units 4‑7).; Customizable to suit various business needs.
    (618) 670-2422
    We can help!
    Listing Contact
    Jay Kehrer
    Real Estate License ID: 475166243
    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.

    More about this property
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    1219 E Cedar Street 6, New Baden, IL 62265
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