Heated & Cooled Turnkey Auto
For Sale
Contact for pricing
321 Centreville Ave, Belleville, IL 62220
Heated and cooled turnkey auto shop with newer windows, LED lighting, and a reception area with office and storage.
Property Size2,325 SF
Lot Size0.40 Acres
Price / SF$107.53
Days on Market1438
Property Features for 321 Centreville Ave
General Information
Standard status
Active
Size
2,325 SF
Lot size
0.40 Acres
Property subtype
RETAIL
Additional Details
Service Bays
3
Amenities
Heated & Cooled
Newer Windows
New LED Lighting
Reception Area/Waiting Room
Office
Storage Areas
Building Details
Buildings
1
Listing Agency:
BARBERMurphy
(618) 407-4240
Listed By:
Anthony Smallmon
(618) 407-4240
Source:
Moodyscre
Added: Sep 13, 2022
Changed: Aug 8
Last Checked: Aug 8 at 6:50PM
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 BARBERMurphy
Investment Insights
Based on property information with market context.
Turnkey auto shop totaling 2,325 SF on a 0.40-acre lot. The property includes Furniture, Fixtures, and Inventory (FF&I) and shop equipment, including three racks, an air compressor, oil separator, and tools/tool shelves. The shop is heated and cooled and features newer windows and new LED lighting.
The interior includes a reception area/waiting room, plus one office with two separate storage areas. The roof was replaced in 2020, and additional equipment details are available upon request.
The shop previously operated as Stock’s Underhood Specialist for 39 years, providing a familiar, ready-to-operate layout for automotive service uses.
The interior includes a reception area/waiting room, plus one office with two separate storage areas. The roof was replaced in 2020, and additional equipment details are available upon request.
The shop previously operated as Stock’s Underhood Specialist for 39 years, providing a familiar, ready-to-operate layout for automotive service uses.
Key Highlights
- 2,325 SF auto shop on a 0.40‑acre lot at 321 Centreville Ave, Belleville, IL 62220
- Turnkey includes FF&I (Furniture, Fixtures, and Inventory)
- Equipment includes three racks, air compressor, oil separator, and tools/tool shelves
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
$14,949
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
5.98%
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%
$298,980
$299.0K
Cap Rate 7%
$213,557
$213.6K
Cap Rate 9%
$166,100
$166.1K
Market Conditions
NOI Build-Up for 2,325 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
$22.6K $9.72/SF
− Vacancy
−$1.2K −$0.53/SF
EGI
$21.4K $9.19/SF
− OpEx
−$6.4K −$2.76/SF
NOI
$14.9K $6.43/SF
Area
St. Clair County, IL
Vacancy
5.50%
Lease Rate
$9.72 /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%
$298,980
Cap Rate 7%
$213,557
Cap Rate 9%
$166,100
Alternative Uses
Best Use
Retail
$331.9K
$290.4K – $387.2K
NOI $23,231 @ 7.0% cap · market cap 9.29%
Second Best
Industrial
$213.6K
$186.9K – $249.2K
NOI $14,949 @ 7.0% cap · market cap 5.98%
Theoretical Best
Office A
$550.4K
$481.6K – $642.2K
NOI $38,529 @ 7.0% cap · market cap 15.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Service bays
Location Intelligence
Trade Area within ½ mile
1,249
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 62220, IL
19,474
Population
8,784
Households
2.2
Avg Household Size
39
Median Age
28%
College-Educated
93%
High-School Grad
28.9 sq mi
ZIP Area
674
Density / Sq Mi
$65,261
Median Household Income
$37,105
Median Earnings
$976
Median Rent
$141,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Heated and cooled turnkey auto shop with newer windows, LED lighting, and a reception area with office and storage.
Where is this auto shop located?
The property is located at 321 Centreville Ave Belleville, IL.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 2,325 SF auto shop on a 0.40‑acre lot at 321 Centreville Ave, Belleville, IL 62220; Turnkey includes FF&I (Furniture, Fixtures, and Inventory); Equipment includes three racks, air compressor, oil separator, and tools/tool shelves
