Main Street Commercial
For Sale
$350,000
135 E Main Street, Glenwood, IL 60425
Commercial property on Main Street with warehouse and vacant lot.
Property Size2,925 SF
Lot Size1.84 Acres
Price / SF$119.66
Days on Market213
Property Features for 135 E Main Street
General Information
Standard status
Active
Size
2,925 SF
Lot size
1.84 Acres
Property subtype
Commercial
Building Details
Year Built
1959
Listing Agency:
RE/MAX 10
(708) 672-4700
Listed By:
DEBBIE JOHNSTON · License #475145225
Source:
Corcoran
Added: Jan 19
Changed: Jul 6
Last Checked: Aug 20 at 5:43AM
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 10
Investment Insights
Based on property information with market context.
This commercial property is located on busy Main Street. The front building, previously a gun store with a shooting range, presents numerous possibilities. The front section of the main building includes a 1000 square foot area divided into separate spaces, sharing one bathroom. This section could be leased for additional rental income. The gun range area is spacious, featuring a showroom, range, back office, and two safes, configured with a shooting range, meeting area, and showroom for merchandise display. The rear building is a large 45 x 65 warehouse with power, concrete floors, and tall ceilings. The property includes a vacant lot measuring 200 x 400 to the West.
Key Highlights
- Prime Main Street location for high visibility
- Existing gun range with showroom, meeting area, back office, and safes
- Large warehouse (45 x 65) with power, concrete floors, and tall ceilings
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
$15,289
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
4.37%
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%
$305,780
$305.8K
Cap Rate 7%
$218,414
$218.4K
Cap Rate 9%
$169,878
$169.9K
Market Conditions
NOI Build-Up for 2,925 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
$19.0K $6.48/SF
− Vacancy
−$967 −$0.33/SF
EGI
$18.0K $6.15/SF
− OpEx
−$2.7K −$0.92/SF
NOI
$15.3K $5.23/SF
Area
Cook County, IL
Vacancy
5.10%
Lease Rate
$6.48 /SF/Yr
Expense Ratio
15.00%
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%
$305,780
Cap Rate 7%
$218,414
Cap Rate 9%
$169,878
Alternative Uses
Best Use
Retail
$580.0K
$507.5K – $676.7K
NOI $40,599 @ 7.0% cap · market cap 11.60%
Second Best
Warehouse
$218.4K
$191.1K – $254.8K
NOI $15,289 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$1.01M
$883.6K – $1.18M
NOI $70,691 @ 7.0% cap · market cap 20.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
129
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60425, IL
8,781
Population
3,526
Households
2.5
Avg Household Size
42
Median Age
37%
College-Educated
94%
High-School Grad
5.6 sq mi
ZIP Area
1,568
Density / Sq Mi
$71,348
Median Household Income
$40,814
Median Earnings
$1,639
Median Rent
$182,000
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercial property on Main Street with warehouse and vacant lot.
Where is this storefront property located?
The property is located at 135 E Main Street Glenwood, IL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Prime Main Street location for high visibility; Existing gun range with showroom, meeting area, back office, and safes; Large warehouse (45 x 65) with power, concrete floors, and tall ceilings
