Fully Equipped Auto Body
For Sale
$850,000
1901 Princeton Avenue Marion, Marion, IL 62959
10,000 sq ft auto body shop on a fenced lot with two paint booths, overhead lifts, and multiple overhead doors.
Property Size10,004 SF
Price / SF$84.97
Days on Market49
Property Features for 1901 Princeton Avenue Marion
General Information
Standard status
Active
Size
10,004 SF
Zoning
commercial
Taxes and HOA fees
Annual Taxes
$6,284
Building Details
Building Size
10,004 SF
Listing Agency:
(309) 722-1612
Listed By:
Holly LaHood
(309) 722-1612
Source:
Realestatepeoria
Added: Jul 13
Changed: Aug 28
Last Checked: Aug 30 at 1:34PM
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 Holly LaHood
Investment Insights
Based on property information with market context.
This fully equipped auto body shop is offered for sale as a ready-to-operate facility. The large 10,000 sq ft building includes two paint booths, overhead lifts, and multiple overhead doors, along with the tools and equipment necessary for new ownership to operate from day one. The sale price includes the land and building, plus tools (excluding the owner’s personal tool bag), as well as equipment and customer list.
The property is set on a large fenced lot, supporting controlled vehicle and shop operations on-site.
Overall, the asset is designed around automotive repair work with dedicated paint and service capabilities, backed by the necessary shop infrastructure already in place.
The property is set on a large fenced lot, supporting controlled vehicle and shop operations on-site.
Overall, the asset is designed around automotive repair work with dedicated paint and service capabilities, backed by the necessary shop infrastructure already in place.
Key Highlights
- Zeigler auto body shop for sale featuring a 10,000 sq ft facility
- Equipped with 2 paint booths and multiple overhead doors for efficient workflow
- Includes overhead lifts and everything necessary for new owners to operate on day one (per remarks)
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
$50,564
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
5.95%
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%
$1,011,280
$1.0M
Cap Rate 7%
$722,343
$722.3K
Cap Rate 9%
$561,822
$561.8K
Market Conditions
NOI Build-Up for 10,004 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
$79.0K $7.90/SF
− Vacancy
−$6.8K −$0.68/SF
EGI
$72.2K $7.22/SF
− OpEx
−$21.7K −$2.17/SF
NOI
$50.6K $5.05/SF
Area
Williamson County, IL
Vacancy
8.60%
Lease Rate
$7.90 /SF/Yr
Expense Ratio
30.00%
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%
$1,011,280
Cap Rate 7%
$722,343
Cap Rate 9%
$561,822
Alternative Uses
Best Use
Retail
$1.17M
$1.02M – $1.36M
NOI $81,681 @ 7.0% cap · market cap 9.61%
Second Best
Industrial
$722.3K
$632.1K – $842.7K
NOI $50,564 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$2.11M
$1.85M – $2.46M
NOI $147,630 @ 7.0% cap · market cap 17.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
483
Businesses Nearby
206k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 33%
Dining 30%
Shops & Services 30%
Home Improvements & Furnishings 5%
Kroger
Groceries
42,767 visits/mo
0.2 miles
Aldi
Groceries
20,954 visits/mo
0.5 miles
Circle K
Shops & Services
17,662 visits/mo
0.1 miles
Wendy's
Dining
14,192 visits/mo
0.2 miles
Kroger Fuel Center
Shops & Services
10,969 visits/mo
0.3 miles
Demographics for 62959, IL
27,629
Population
12,997
Households
2.1
Avg Household Size
43
Median Age
28%
College-Educated
92%
High-School Grad
143.0 sq mi
ZIP Area
193
Density / Sq Mi
$69,914
Median Household Income
$44,145
Median Earnings
$895
Median Rent
$166,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - 10,000 sq ft auto body shop on a fenced lot with two paint booths, overhead lifts, and multiple overhead doors.
Where is this auto shop located?
The property is located at 1901 Princeton Avenue Marion Marion, IL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Zeigler auto body shop for sale featuring a 10,000 sq ft facility; Equipped with 2 paint booths and multiple overhead doors for efficient workflow; Includes overhead lifts and everything necessary for new owners to operate on day one (per remarks)
