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    Retail Investment Opportunity Title is generated by Realmo AI

    1301-1309 W Broadway, Centralia, IL 62801

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    For Sale
    $3,818,473

    Retail property with national tenants in a dense retail corridor.

    Type:Retail
    Added:
    Mar 5, 2026
    Days on Market:
    72
    Last Refresh:
    Apr 5 at 10:07 pm

    Property Features for 1301-1309 W Broadway

    General Information

    Standard status
    Active
    Property subtype
    Retail

    We can help!

    Listing Contact
    Robert Michil

    Listing agent Robert Michil

    Listing office

    Listing date Mar 5, 2026

    Source Legacycrea

    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 Robert Michil

    HighLights

    • National Grade Tenant: Dollar Tree (S&P: BBB-) provides stable income.
    • Located in a dense retail corridor with retailers including Walmart, Big Lots, AutoZone, ALDI, Schnucks, Ace Hardware, McDonald's, & More.
    • Essential Retailer: Internet, Pandemic, and Recession Proof Tenancy.
    • Strong Demos: High population density within 1 and 3 mile radii.
    • Constructed in 2017 with a modern facade and new roof with 20‑year warranty.
    • NN Lease Structure: Minimal Landlord Responsibilities.

    Overview

    This retail property, constructed in 2017, features a modern facade and a new roof with a 20-year warranty. It is located within the St. Louis MSA, ranked 21st in the U.S.A., in a dense retail corridor alongside retailers such as Walmart, Big Lots, AutoZone, ALDI, Schnucks, Ace Hardware, and McDonald's. The property benefits from high traffic counts, with 7,500 vehicles passing the site daily on W Broadway and over 13,000 vehicles on W McCord St. The location has strong demographics, with 3,900 residents within a 1-mile radius and over 15,600 within a 3-mile radius. The property is tenanted by Dollar Tree, a national grade tenant with a Standard & Poor's credit rating of "BBB-", and Goodwill. The NN lease structure involves minimal landlord responsibilities. Goodwill rent increases are scheduled for 9/1/2022, with the seller crediting the difference in rent at the close of escrow. The property is considered an essential retailer with internet, pandemic, and recession-proof tenancy, offering immediate upside opportunity.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Centralia
    County
    Marion
    State
    Illinois
    Longitude
    -89.1585
    Latitude
    38.5305

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    FAQs

    What type of property is this?
    NNN property - Retail property with national tenants in a dense retail corridor.
    Where is this nnn property located?
    The property is located at 1301-1309 W Broadway Centralia, IL.
    What is the asking price?
    The asking price for this property is $3,818,473.
    What are key features of this property?
    This property features: National Grade Tenant: Dollar Tree (S&P: BBB-) provides stable income.; Located in a dense retail corridor with retailers including Walmart, Big Lots, AutoZone, ALDI, Schnucks, Ace Hardware, McDonald's, & More.; Essential Retailer: Internet, Pandemic, and Recession Proof Tenancy.
    (248) 450-3254
    We can help!
    Listing Contact
    Robert Michil
    Learn More
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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.

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