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    853 Main St Barry, IL 62312

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    Charming 1080 sq ft commercial property in historic district.

    Property size:
    1,080 SF
    Lot size:
    0.16 Acres

    Property Features for 853 Main St

    General Information

    Standard status
    Active
    Size
    1,080 SF
    Lot size
    0.16 Acres

    We can help!

    Listing Contact
    Jenna Hendrickson
    Source: Exitrealty

    Listing Agency: Davis & Associates, REALTORS Listing Agent: Jenna Hendrickson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Historic District Commercial Property

    Located in the heart of the historic business district, this commercial property offers 1080 sq ft of versatile space suitable for various business ventures. The property could be used for a cozy coffee shop, co-working office, insurance office, trendy retail store, or small gym/yoga studio. The front of the shop features newly installed floors in 2024. The interiors have been recently painted, creating a bright and inviting atmosphere. Sealed interior brick walls preserve the building's historical charm. A newly installed awning above the front door enhances the building's curb appeal and ties in with the historic aesthetic of the area. The sale includes a counter bar. The property is being sold AS-IS.
    Location Intelligence

    Current Use by Public Records

    Poppy's Flower Patch (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Restaurant Dental Office Building Supply Gym & Fitness Center Pharmacy Big Box & Wholesale Store Auto Repair Shop Department Store Hotel & Motel

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

    Similar Places Nearby

    Poppy's Flower Patch

    Location Insight

    • Map
    • Local Demand
    City
    Barry
    County
    Pike
    State
    Illinois
    Longitude
    -91.038711
    Latitude
    39.693615

    Nearby Similar for Sale

    • $500,000

      Hotel with Business Booster Program

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    • $61,000
      3,680 SF

      Mixed-Use Commercial Building in Barry, IL

      Mixed-use property with storefronts and apartment potential in Barry, IL.
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    • $44,900
      1,080 SF

      Historic Barry Commercial Building

      1080 sq ft, charming, AS-IS
      853 Main St, Barry, IL 62312
      View Details

    FAQs

    What type of property is this?
    Storefront property - Charming 1080 sq ft commercial property in historic district.
    Where is this storefront property located?
    The property is located at 853 Main St Barry, IL.
    What are key features of this property?
    This property features: - Prime location in the heart of the Historic Business District.; - Versatile 1080 sq ft space suitable for various business types (coffee shop, office, retail, studio).; - Newly installed floors (2024) in the front of the shop.
    (217) 224-8100
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    853 Main St Barry, IL 62312
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    Barry, IL 62312
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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
    853 Main St Barry, IL 62312
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    We can help!
    Listing Contact
    Jenna Hendrickson
    Real Estate License ID: 475208001
    (217) 224-8100
    Learn more
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