Building Details

Year Built 2006

Buildings 1

Units 1

Tenancy Single

Listing Agency: Marcus & Millichap - Austin

Listed By: Douglas Diffie · License #TX 656858 Show Phone

Source: Crexi

Added: Aug 18 Changed: Oct 8 Last Checked: Oct 16 at 9:19AM

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Investment Insights

Based on property information with market context.

This 9,014-square-foot retail property in Bartonville serves as a Dollar General location and was built in 2006. The asset is identified for commercial use and is situated within the Peoria MSA.

The current tenancy has 5+ years remaining on the term. Property information also indicates minimal landlord responsibilities, providing a defined operating profile for the existing retail occupancy.

Key Highlights

• Dollar General retail tenancy in the Peoria MSA
• 9,014 square feet of retail space
• Built in 2006

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$75,233

Cap Rate

8.91%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,504,660 $1.5M

Cap Rate 7%

$1,074,757 $1.1M

Cap Rate 9%

$835,922 $835.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 9,014 SF

Gross rent

$116.8K $12.96/SF

− Vacancy

−$9.3K −$1.04/SF

EGI

$107.5K $11.92/SF

− OpEx

−$32.2K −$3.58/SF

NOI

$75.2K $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 Rate 5%

$1,504,660

Cap Rate 7%

$1,074,757

Cap Rate 9%

$835,922

Alternative Uses

Best Use

Retail

$1.07M

$940.4K – $1.25M (±1% cap)

NOI $75,233 @ 7.0% cap · market cap 8.91%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$7.89M

$6.90M – $9.20M (±1% cap)

NOI $551,975 @ 7.0% cap · market cap 65.38%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Retail space

Suggested Use

Top Pick Law Firm Real Estate Agency Auto Parts Store Parking Lot & Garage Auto Repair Shop Plumbing Service

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

Location Intelligence

Trade Area within ½ mile

230

Businesses Nearby

96k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Groceries 44% Shops & Services 35% Dining 21%

Kroger Groceries

28,558 visits/mo 0.2 miles

McDonald's Dining

16,588 visits/mo 0.2 miles

Aldi Groceries

13,573 visits/mo 0.2 miles

Circle K Shops & Services

10,973 visits/mo 0.4 miles

Kroger Fuel Center Shops & Services

10,584 visits/mo 0.1 miles

Demographics for 61606, IL

6,798

Population

2,898

Households

2.3

Avg Household Size

26

Median Age

40%

College-Educated

92%

High-School Grad

1.2 sq mi

ZIP Area

5,665

Density / Sq Mi

$41,023

Median Household Income

$14,738

Median Earnings

$907

Median Rent

$119,800

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

Similar For Sale Nearby

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114-118 Argentina Ave, Bartonville, IL 61607

$399,900

1,793 SF

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Mixed-Use Property with Apartment Units

5807 & 5805 Adams St, Bartonville, IL 61607

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2,000 SF

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Frequently Asked Questions

What type of property is this?

Retail space - Established 2006 retail facility with more than five years remaining on the current term.

Where is this retail space located?

The property is located at 1512 W GARFIELD AVE Bartonville, IL.

What is the asking price?

The asking price for this property is $844,235.

What are key features of this property?

This property features: Dollar General retail tenancy in the Peoria MSA; 9,014 square feet of retail space; Built in 2006