Three-Unit Retail
For Sale
$495,000
407 S 4th St, Dunlap, IL 61525
2014 retail property offers multiple suites, an available unit, and county-approved plans for additional improvements.
Property Size4,500 SF
Price / SF$110
Days on Market21
Property Features for 407 S 4th St
General Information
Standard status
Active
Size
4,500 SF
Site & Location
Drive-Thru
Yes
Road Access
Yes
Building Details
Year Built
2014
Tenancy
Multi
Listing Agency:
RE/MAX Traders Unlimited
(309) 687-5000
Listed By:
Justin Ball, Jessica Ball · License #475175281
Source:
Schaublerealty
Added: Aug 8
Changed: Aug 28
Last Checked: Aug 28 at 8:01PM
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 RE/MAX Traders Unlimited
Investment Insights
Based on property information with market context.
Built in 2014, this 4,500-square-foot retail center contains three units. Unit C is available for lease, while Unit A is occupied by Dame Fine Coffee and Unit B is leased to Debbie's Slots and Gaming Lounge.
The property fronts Route 91 and sits across from Dunlap High School. County-approved plans provide for a second building with 3,000 square feet of additional space, along with more parking on the west side of the property.
The property fronts Route 91 and sits across from Dunlap High School. County-approved plans provide for a second building with 3,000 square feet of additional space, along with more parking on the west side of the property.
Key Highlights
- Three‑unit retail center totaling 4,500 SF
- Unit C available for lease
- Unit A occupied by Dame Fine Coffee
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
$37,558
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
7.59%
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%
$751,160
$751.2K
Cap Rate 7%
$536,543
$536.5K
Cap Rate 9%
$417,311
$417.3K
Market Conditions
NOI Build-Up for 4,500 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
$58.3K $12.96/SF
− Vacancy
−$4.7K −$1.04/SF
EGI
$53.7K $11.92/SF
− OpEx
−$16.1K −$3.58/SF
NOI
$37.6K $8.35/SF
Area
Peoria County, IL
Vacancy
8.00%
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%
$751,160
Cap Rate 7%
$536,543
Cap Rate 9%
$417,311
Alternative Uses
Best Use
Specialty Retail
$770.6K
$674.3K – $899.1K
NOI $53,944 @ 7.0% cap · market cap 10.90%
Second Best
Retail
$536.5K
$469.5K – $626.0K
NOI $37,558 @ 7.0% cap · market cap 7.59%
Theoretical Best
Multifamily LT 5
$3.94M
$3.44M – $4.59M
NOI $275,559 @ 7.0% cap · market cap 55.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
108
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 61525, IL
11,433
Population
4,324
Households
2.6
Avg Household Size
36
Median Age
69%
College-Educated
97%
High-School Grad
32.7 sq mi
ZIP Area
350
Density / Sq Mi
$153,300
Median Household Income
$88,125
Median Earnings
$1,167
Median Rent
$314,800
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?
Shopping center - 2014 retail property offers multiple suites, an available unit, and county-approved plans for additional improvements.
Where is this shopping center located?
The property is located at 407 S 4th St Dunlap, IL.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Three‑unit retail center totaling 4,500 SF; Unit C available for lease; Unit A occupied by Dame Fine Coffee
