Sterling Commercial Land
For Sale
Contact for pricing
2612 W Le Fevre Road, Sterling, IL 61081
4 acre commercial land suitable for various business ventures.
Property Size4,236 SF
Lot Size4.00 Acres
Price / SF$83.81
Days on Market922
Property Features for 2612 W Le Fevre Road
General Information
Standard status
Active
Size
4,236 SF
Lot size
4.00 Acres
Property subtype
Special Purpose
Building Details
Year Built
1992
Buildings
1
Listing Agency:
Coldwell Banker Commercial Howes & Jefferies
(563) 242-3265
Listed By:
Dennis Lauver · License #B63532000
Source:
Crexi
Added: Feb 10, 2024
Changed: Aug 8
Last Checked: Aug 20 at 5:11AM
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 Coldwell Banker Commercial Howes & Jefferies
Investment Insights
Based on property information with market context.
This 4-acre commercial land is located northwest of the roundabout at W LeFevre and N Lynn Commercial in Sterling, IL. The site is landscaped and situated in the commercial district on the west side of town, near multiple primary employers. It is suitable for office, restaurant/bar, gaming with outdoor seating, or industrial use, including cold storage. The property offers an opportunity to implement various business plans.
Key Highlights
- 4‑acre commercial lot with diverse potential uses.
- Prime location in Sterling, IL, near the intersection of W LeFevre and N Lynn Commercial.
- Situated in a commercial district close to multiple primary employers.
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
$28,250
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
7.96%
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%
$565,000
$565.0K
Cap Rate 7%
$403,571
$403.6K
Cap Rate 9%
$313,889
$313.9K
Market Conditions
NOI Build-Up for 4,236 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
$48.3K $11.40/SF
− Vacancy
−$10.6K −$2.51/SF
EGI
$37.7K $8.89/SF
− OpEx
−$9.4K −$2.22/SF
NOI
$28.2K $6.67/SF
Area
Whiteside County, IL
Vacancy
22.00%
Lease Rate
$11.40 /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%
$565,000
Cap Rate 7%
$403,571
Cap Rate 9%
$313,889
Alternative Uses
Best Use
Specialty Retail
$792.4K
$693.4K – $924.5K
NOI $55,470 @ 7.0% cap · market cap 15.63%
Second Best
Office B
$403.6K
$353.1K – $470.8K
NOI $28,250 @ 7.0% cap · market cap 7.96%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
91
Businesses Nearby
Explore this area
Business Placement
Demographics for 61081, IL
21,064
Population
9,753
Households
2.2
Avg Household Size
43
Median Age
20%
College-Educated
91%
High-School Grad
124.4 sq mi
ZIP Area
169
Density / Sq Mi
$60,854
Median Household Income
$40,497
Median Earnings
$791
Median Rent
$121,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - 4 acre commercial land suitable for various business ventures.
Where is this commercial land located?
The property is located at 2612 W Le Fevre Road Sterling, IL.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: 4‑acre commercial lot with diverse potential uses.; Prime location in Sterling, IL, near the intersection of W LeFevre and N Lynn Commercial.; Situated in a commercial district close to multiple primary employers.
