Single-Story Retail
For Sale
Contact for pricing
139 E Walnut St, Oglesby, IL 61348
City water and sewer serve the property.
Property Size1,824 SF
Price / SF$158.99
Days on Market561
Property Features for 139 E Walnut St
General Information
Standard status
Active
Size
1,824 SF
Property subtype
RETAIL
Additional Details
Utilities to Site
Yes
Building Details
Stories
1
Listing Agency:
Coldwell Banker Commercial Real Estate Group
(815) 780-7952
Listed By:
Leah Erickson · License #475204597
(815) 780-7952
Source:
Moodyscre
Added: Jan 22, 2025
Changed: Jul 31
Last Checked: Aug 6 at 6:09AM
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 Coldwell Banker Commercial Real Estate Group
Investment Insights
Based on property information with market context.
This single-story retail space contains 1,824 square feet, with an average floor size and maximum contiguous area of 1,824 square feet. The property is more than 50 years old and sits on a lot under 1/2 acre.
Located at 139 E Walnut St in Oglesby, Illinois, the property has city water and city sewer service. Lot dimensions are listed as 23x167 and 17x114.
Located at 139 E Walnut St in Oglesby, Illinois, the property has city water and city sewer service. Lot dimensions are listed as 23x167 and 17x114.
Key Highlights
- 1,824‑square‑foot retail space with 1,824 square feet of maximum contiguous area
- Single‑story configuration with one available floor
- Lot dimensions listed as 23x167 and 17x114
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
$16,547
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
5.71%
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%
$330,940
$330.9K
Cap Rate 7%
$236,386
$236.4K
Cap Rate 9%
$183,856
$183.9K
Market Conditions
NOI Build-Up for 1,824 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
$26.3K $14.40/SF
− Vacancy
−$2.6K −$1.44/SF
EGI
$23.6K $12.96/SF
− OpEx
−$7.1K −$3.89/SF
NOI
$16.5K $9.07/SF
Area
LaSalle, IL
La Salle County, LA
Vacancy
10.00%
Lease Rate
$14.40 /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%
$330,940
Cap Rate 7%
$236,386
Cap Rate 9%
$183,856
Alternative Uses
Best Use
Retail
$236.4K
$206.8K – $275.8K
NOI $16,547 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$456.5K
$399.5K – $532.6K
NOI $31,956 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
123
Businesses Nearby
4k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
3,608 visits/mo
0.5 miles
Demographics for 61348, IL
4,576
Population
2,182
Households
2.1
Avg Household Size
44
Median Age
20%
College-Educated
93%
High-School Grad
39.3 sq mi
ZIP Area
116
Density / Sq Mi
$71,197
Median Household Income
$44,029
Median Earnings
$691
Median Rent
$139,100
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.
Frequently Asked Questions
What type of property is this?
Retail space - City water and sewer serve the property.
Where is this retail space located?
The property is located at 139 E Walnut St Oglesby, IL.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: 1,824‑square‑foot retail space with 1,824 square feet of maximum contiguous area; Single‑story configuration with one available floor; Lot dimensions listed as 23x167 and 17x114
