Building Details

Tenancy Multi

Listing Agency: HOUSE 2 HOME REALTY

Listed By: Kali Lynn (kalih2hrealty@gmail.com)

Source: Curveyrealestate

Added: Sep 29 Changed: Sep 30 Last Checked: Oct 4 at 9:13AM

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Investment Insights

Based on property information with market context.

This restaurant property contains 3,552 square feet divided among four commercial spaces on approximately 0.34 acres. Burger Nook, operating in the community since 1963, occupies one space, alongside additional commercial tenants. The offering includes the building and real estate; the businesses are not included in the sale.

The property is on S Park Avenue in Herrin, along a commercial corridor with an average daily traffic count of approximately 15,000. Existing occupancy provides rental income from the property.

Key Highlights

• 3,552‑square‑foot building with four commercial spaces
• Approximately 0.34 acres on S Park Avenue in Herrin
• Average daily traffic count of approximately 15,000

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$29,001

Cap Rate

5.80%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$580,020 $580.0K

Cap Rate 7%

$414,300 $414.3K

Cap Rate 9%

$322,233 $322.2K

Market Conditions

NOI Build-Up for 3,552 SF

Gross rent

$46.0K $12.96/SF

− Vacancy

−$4.6K −$1.30/SF

EGI

$41.4K $11.66/SF

− OpEx

−$12.4K −$3.50/SF

NOI

$29.0K $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 Rate 5%

$580,020

Cap Rate 7%

$414,300

Cap Rate 9%

$322,233

Alternative Uses

Best Use

Specialty Retail

$691.3K

$604.9K – $806.5K (±1% cap)

NOI $48,388 @ 7.0% cap · market cap 9.68%

Second Best

Retail

$414.3K

$362.5K – $483.4K (±1% cap)

NOI $29,001 @ 7.0% cap · market cap 5.80%

Theoretical Best

Office A

$748.8K

$655.2K – $873.6K (±1% cap)

NOI $52,417 @ 7.0% cap · market cap 10.49%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Conventional restaurants

Suggested Use

Top Pick Law Firm Dental Office HVAC Service Plumbing Service (Bike/Boat/Book/etc) Store Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

15,000 VPD

Traffic count

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

419

Businesses Nearby

121k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 51% Shops & Services 27% Groceries 22%

Kroger Groceries

26,449 visits/mo 0.4 miles

McDonald's Dining

22,345 visits/mo 0.5 miles

Dollar Tree Shops & Services

10,794 visits/mo 0.5 miles

Wendy's Dining

9,801 visits/mo 0.3 miles

Taco Bell Dining

8,831 visits/mo 0.5 miles

Demographics for 62948, IL

12,536

Population

6,177

Households

2

Avg Household Size

40

Median Age

24%

College-Educated

92%

High-School Grad

20.0 sq mi

ZIP Area

627

Density / Sq Mi

$59,031

Median Household Income

$40,633

Median Earnings

$1,010

Median Rent

$112,400

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Multiple commercial spaces and existing tenants occupy this restaurant property on Park Avenue.

Where is this conventional restaurant located?

The property is located at 900 S Park Avenue Herrin, IL.

What is the asking price?

The asking price for this property is $499,900.

What are key features of this property?

This property features: 3,552‑square‑foot building with four commercial spaces; Approximately 0.34 acres on S Park Avenue in Herrin; Average daily traffic count of approximately 15,000