Auto Body Shop For
For Sale
Contact for pricing
1901 PRINCETON Avenue, Marion, IL 62959
Fully equipped 10,000 SF auto body shop on fenced lot.
Property Size10,000 SF
Price / SF$85
Days on Market106
Property Features for 1901 PRINCETON Avenue
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Land
Zoning
commercial
Listing Agency:
House 2 Home Realty
Listed By:
Jerry Beasley · License #IL 475.149703
Source:
Crexi
Added: May 15
Changed: Aug 8
Last Checked: Jul 15 at 3:44PM
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 House 2 Home Realty
Investment Insights
Based on property information with market context.
A 10,000 square foot auto body shop is available for purchase. The facility is fully equipped with two paint booths, overhead lifts, and multiple overhead doors. The sale includes the land, building, tools (excluding personal tool bags), equipment, and customer list. The property also features a large fenced lot. The current owner is retiring, presenting an opportunity for new ownership to begin operations immediately.
Key Highlights
- Fully equipped 10,000 sq ft auto body shop ready for immediate operation
- Price includes land, building, equipment, and customer list
- Features 2 paint booths and multiple overhead lifts
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
$50,544
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
5.95%
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%
$1,010,880
$1.0M
Cap Rate 7%
$722,057
$722.1K
Cap Rate 9%
$561,600
$561.6K
Market Conditions
NOI Build-Up for 10,000 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
$79.0K $7.90/SF
− Vacancy
−$6.8K −$0.68/SF
EGI
$72.2K $7.22/SF
− OpEx
−$21.7K −$2.17/SF
NOI
$50.5K $5.05/SF
Area
Williamson County, IL
Vacancy
8.60%
Lease Rate
$7.90 /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%
$1,010,880
Cap Rate 7%
$722,057
Cap Rate 9%
$561,600
Alternative Uses
Best Use
Retail
$1.17M
$1.02M – $1.36M
NOI $81,648 @ 7.0% cap · market cap 9.61%
Second Best
Industrial
$722.1K
$631.8K – $842.4K
NOI $50,544 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$2.11M
$1.84M – $2.46M
NOI $147,571 @ 7.0% cap · market cap 17.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
483
Businesses Nearby
206k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 33%
Dining 30%
Shops & Services 30%
Home Improvements & Furnishings 5%
Kroger
Groceries
42,767 visits/mo
0.2 miles
Aldi
Groceries
20,954 visits/mo
0.5 miles
Circle K
Shops & Services
17,662 visits/mo
0.1 miles
Wendy's
Dining
14,192 visits/mo
0.2 miles
Kroger Fuel Center
Shops & Services
10,969 visits/mo
0.3 miles
Demographics for 62959, IL
27,629
Population
12,997
Households
2.1
Avg Household Size
43
Median Age
28%
College-Educated
92%
High-School Grad
143.0 sq mi
ZIP Area
193
Density / Sq Mi
$69,914
Median Household Income
$44,145
Median Earnings
$895
Median Rent
$166,200
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?
Auto shop - Fully equipped 10,000 SF auto body shop on fenced lot.
Where is this auto shop located?
The property is located at 1901 PRINCETON Avenue Marion, IL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Fully equipped 10,000 sq ft auto body shop ready for immediate operation; Price includes land, building, equipment, and customer list; Features 2 paint booths and multiple overhead lifts
