Retail Building in Downtown
515 W State St Geneva, IL 60134
For Sale
$2,100,000
Single-user retail building in a prominent corner location.
Property Size12,000 SF
Lot Size0.60 Acres
Price / SF$175
Days on Market65
Property Features for 515 W State St
General Information
- Standard status
- Active
- Size
- 12,000 SF
- Lot size
- 0.60 Acres
- Property subtype
- Street Retail
Building Details
- Year Built
- 1953
Listing Agency:
SVN | Landmark Commercial Real Estate
(630) 938-4950
Listed By:
Neil Johnson · License #471012919
(630) 938-4950
Source:
Thebrokerlist
Added: May 21
Changed: Jul 10
Last Checked: Jul 24 at 4:07PM
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 SVN | Landmark Commercial Real Estate
Investment Insights
Based on property information with market context.
The property is a single-user retail building with an area exceeding 12,000 square feet, situated on 0.6 acres. It occupies a prominent corner location in downtown Geneva, Illinois, specifically at the northeast corner of State Street (Route 38) and Sixth Street. The surrounding area is a mixed-use commercial and residential zone, with a variety of shopping, restaurant, and office properties. Across Sixth Street is a retail center anchored by Ace Hardware and 7-Eleven. The property includes generous onsite private parking and a convenient delivery area in the rear. The location benefits from high traffic volume, with CoStar reporting 20,200 vehicles per day. Demographics within a 5-mile radius include a population of 106,657 and an average household income of $175,487. The property is suitable for various businesses, including grocery stores, specialty markets, liquor stores, furniture stores, fitness centers, or entertainment venues. The existing liquor store business is not for sale. The property presents an owner-user or redevelopment opportunity and includes coolers and storage space. Fixtures and equipment are negotiable.
Key Highlights
- Prominent corner location on State St (IL Rt 38) in downtown Geneva, IL
- 12,000+ sf building on 0.6 acre site suitable for owner‑user or redevelopment
- Generous onsite private parking
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 | $216.0k | $18.00 |
| − Vacancy | −$9.1k | −$0.76 |
| EGI | $206.9k | $17.24 |
| − OpEx | −$62.1k | −$5.17 |
| NOI | $144.8k | $12.07 |
12,000 SF · lease $18.00/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.07M
$1.81M – $2.41M
NOI $144,850 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.14M
$3.63M – $4.83M
NOI $290,014 @ 7.0% cap · market cap 13.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
SavWay Fine Wines ...
(Bike/Boat/Book/etc) Store
Similar Off Market Nearby
- Floral Wonders — 310 Campbell St, Geneva, IL 60134
FAQs
What type of property is this?
Storefront property - Single-user retail building in a prominent corner location.
Where is this storefront property located?
The property is located at 515 W State St Geneva, IL.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Prominent corner location on State St (IL Rt 38) in downtown Geneva, IL; 12,000+ sf building on 0.6 acre site suitable for owner‑user or redevelopment; Generous onsite private parking
