Brick Mixed-Use
New
For Sale
$199,000
1305 S Division St, Carterville, IL 62918
Adaptable commercial building suited to office or retail use, with paved parking and adjoining open ground.
Property Size2,178 SF
Price / SF$91.37
Days on Market2
Property Features for 1305 S Division St
General Information
Standard status
Active
Size
2,178 SF
Additional Details
Highway Access
Yes
Building Details
Buildings
1
Construction
brick
Listing Agency:
COMMERCIAL REALTY ASSOCIATES
Listed By:
Rolf Schilling · License #471012048
(618) 303-0700
Source:
Amyboston.realtopiare
Added: Sep 8
Last Checked: Sep 8 at 2:39PM
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 COMMERCIAL REALTY ASSOCIATES
Investment Insights
Based on property information with market context.
This 2,178-square-foot brick commercial building offers a flexible layout for office or retail occupancy. The property includes a substantial concrete parking area along with a grass-covered section extending west of the building, providing additional site area beyond the structure itself.
The location is on S Division St. in Carterville, just north of the intersection with Hwy. 13. A “Welcome to Carterville” sign directly adjoins the property, adding a recognizable point of reference along the street.
The location is on S Division St. in Carterville, just north of the intersection with Hwy. 13. A “Welcome to Carterville” sign directly adjoins the property, adding a recognizable point of reference along the street.
Key Highlights
- 2,178‑square‑foot brick building
- Suitable for office or retail use
- Large concrete parking lot
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
$17,783
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
8.94%
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%
$355,660
$355.7K
Cap Rate 7%
$254,043
$254.0K
Cap Rate 9%
$197,589
$197.6K
Market Conditions
NOI Build-Up for 2,178 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
$28.2K $12.96/SF
− Vacancy
−$2.8K −$1.30/SF
EGI
$25.4K $11.66/SF
− OpEx
−$7.6K −$3.50/SF
NOI
$17.8K $8.16/SF
Area
Williamson County, IL
Vacancy
10.00%
Lease Rate
$12.96 /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%
$355,660
Cap Rate 7%
$254,043
Cap Rate 9%
$197,589
Alternative Uses
Best Use
Office B
$344.4K
$301.4K – $401.8K
NOI $24,110 @ 7.0% cap · market cap 12.12%
Second Best
Retail
$254.0K
$222.3K – $296.4K
NOI $17,783 @ 7.0% cap · market cap 8.94%
Theoretical Best
Office A
$459.2K
$401.8K – $535.7K
NOI $32,141 @ 7.0% cap · market cap 16.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
231
Businesses Nearby
Explore this area
Business Placement
Demographics for 62918, IL
10,538
Population
5,001
Households
2.1
Avg Household Size
38
Median Age
43%
College-Educated
97%
High-School Grad
37.5 sq mi
ZIP Area
281
Density / Sq Mi
$70,975
Median Household Income
$45,173
Median Earnings
$909
Median Rent
$183,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Adaptable commercial building suited to office or retail use, with paved parking and adjoining open ground.
Where is this mixed-use property located?
The property is located at 1305 S Division St Carterville, IL.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: 2,178‑square‑foot brick building; Suitable for office or retail use; Large concrete parking lot
