Rehabbed Flex
For Sale
$249,000
122 W Bethalto Boulevard, Bethalto, IL 62010
Open interior provides a customizable starting point for retail, office, or other commercial use.
Property Size1,152 SF
Days on Market37
Property Features for 122 W Bethalto Boulevard
General Information
Standard status
Active
Size
1,152 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,143
Building Details
Building Size
1,152 SF
Year Built
1980
Buildings
1
Listing Agency:
Key Real Estate
(618) 200-1896
Listed By:
Paige Davis · License #475182630
(618) 200-1896
Source:
Exit2newbeginningz
Added: Jul 7
Changed: Aug 11
Last Checked: Aug 12 at 11:59AM
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 Key Real Estate
Investment Insights
Based on property information with market context.
This flex space at 122 W Bethalto Boulevard offers a renovated interior with an open configuration suited to a range of commercial plans. Flooring has been removed, allowing the next owner to select and install finishes that align with the intended operation. The property can support retail, office, or another commercial use, subject to verification of applicable requirements.
Built in 1980, the property is located in Bethalto, Illinois, with the address providing a clear commercial location for evaluation. Its unfinished interior presents a straightforward opportunity to shape the space around a specific business concept while retaining the benefit of completed rehabilitation work.
Built in 1980, the property is located in Bethalto, Illinois, with the address providing a clear commercial location for evaluation. Its unfinished interior presents a straightforward opportunity to shape the space around a specific business concept while retaining the benefit of completed rehabilitation work.
Key Highlights
- Renovated interior with an open configuration
- Flooring removed for new finish selection
- Suitable for retail, office, or other commercial use
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
$18,248
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
7.33%
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%
$364,960
$365.0K
Cap Rate 7%
$260,686
$260.7K
Cap Rate 9%
$202,756
$202.8K
Market Conditions
NOI Build-Up for 1,152 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
$27.6K $24.00/SF
− Vacancy
−$3.3K −$2.88/SF
EGI
$24.3K $21.12/SF
− OpEx
−$6.1K −$5.28/SF
NOI
$18.2K $15.84/SF
Area
Madison County, IL
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$364,960
Cap Rate 7%
$260,686
Cap Rate 9%
$202,756
Alternative Uses
Best Use
Office B
$260.7K
$228.1K – $304.1K
NOI $18,248 @ 7.0% cap · market cap 7.33%
Second Best
Retail
$202.0K
$176.7K – $235.6K
NOI $14,138 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$314.0K
$274.8K – $366.3K
NOI $21,980 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
278
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 62010, IL
10,847
Population
5,163
Households
2.1
Avg Household Size
41
Median Age
30%
College-Educated
93%
High-School Grad
21.2 sq mi
ZIP Area
512
Density / Sq Mi
$72,717
Median Household Income
$46,689
Median Earnings
$896
Median Rent
$170,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Geno's 140 — 120 W Bethalto Blvd, Bethalto, IL 62010
Frequently Asked Questions
What type of property is this?
Flex space - Open interior provides a customizable starting point for retail, office, or other commercial use.
Where is this flex space located?
The property is located at 122 W Bethalto Boulevard Bethalto, IL.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Renovated interior with an open configuration; Flooring removed for new finish selection; Suitable for retail, office, or other commercial use
