Dollar General Retail
For Sale
Contact for pricing
1512 W GARFIELD AVE, Bartonville, IL 61606
Established 2006 retail facility with more than five years remaining on the current term.
Property Size9,014 SF
Price / SF$93.66
Days on Market14
Property Features for 1512 W GARFIELD AVE
General Information
Standard status
Active
Size
9,014 SF
Property subtype
Retail
Zoning
Commercial
Occupancy
100%
Lease Type
NN
Net Operating Income
$71,760
Building Details
Year Built
2006
Buildings
1
Units
1
Tenancy
Single
Listing Agency:
Marcus & Millichap - Austin
(512) 338-7872
Listed By:
Douglas Diffie · License #TX 656858
Source:
Crexi
Added: Aug 18
Changed: Aug 30
Last Checked: Aug 30 at 12:41AM
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 Marcus & Millichap - Austin
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.
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 = 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
$75,233
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
8.91%
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%
$1,504,660
$1.5M
Cap Rate 7%
$1,074,757
$1.1M
Cap Rate 9%
$835,922
$835.9K
Market Conditions
NOI Build-Up for 9,014 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
$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 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%
$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
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
NOI $551,975 @ 7.0% cap · market cap 65.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
