Grocery Store with
For Sale
$450,000
1904 Walnut St, Murphysboro, IL 62966
Owner-operated facility includes freezers, shelving, and on-site parking.
Property Size2,800 SF
Lot Size0.30 Acres
Price / SF$160.71
Days on Market8
Property Features for 1904 Walnut St
General Information
Standard status
Active
Size
2,800 SF
Total Parking Spaces
15
Lot size
0.30 Acres
Property subtype
Commercial
Site & Location
Corner Location
Yes
Traffic Count
9,200 vehicles/day
Additional Details
Asking Price
$450,000
Building Details
Year Built
1969
Tenancy
Single
Listing Agency:
BARBERMurphy
(618) 277-4400
Listed By:
Michael J. Pierceall
(618) 277-4400
Source:
Barbermurphy
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 20 at 4:03AM
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 BARBERMurphy
Investment Insights
Based on property information with market context.
This owner-operated grocery store occupies a 2,800 SF building constructed in 1969. The sale includes coolers, freezers, and shelving, providing an existing retail setup for continued grocery use. The property sits on a 12,920 SF (0.30 acre) corner lot and includes 15 on-site parking spaces.
Located at 1904 Walnut Street along IL Rt. 13 in Murphysboro, the property fronts the city’s primary east/west business corridor. The site records 9,200 vehicles per day and is positioned on the west side of the downtown district. The Jackson County Courthouse is approximately one-half mile away, with downtown building renovations and reinvestment occurring in the surrounding area.
Located at 1904 Walnut Street along IL Rt. 13 in Murphysboro, the property fronts the city’s primary east/west business corridor. The site records 9,200 vehicles per day and is positioned on the west side of the downtown district. The Jackson County Courthouse is approximately one-half mile away, with downtown building renovations and reinvestment occurring in the surrounding area.
Key Highlights
- 2,800 SF grocery store building constructed in 1969
- 12,920 SF (0.30 acre) corner lot
- Coolers, freezers, and shelving included
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
$37,178
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
8.26%
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%
$743,560
$743.6K
Cap Rate 7%
$531,114
$531.1K
Cap Rate 9%
$413,089
$413.1K
Market Conditions
NOI Build-Up for 2,800 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
$51.7K $18.48/SF
− Vacancy
−$2.2K −$0.78/SF
EGI
$49.6K $17.70/SF
− OpEx
−$12.4K −$4.43/SF
NOI
$37.2K $13.28/SF
Area
Jackson County, IL
Vacancy
4.20%
Lease Rate
$18.48 /SF/Yr
Expense Ratio
25.00%
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%
$743,560
Cap Rate 7%
$531,114
Cap Rate 9%
$413,089
Alternative Uses
Best Use
Specialty Retail
$531.1K
$464.7K – $619.6K
NOI $37,178 @ 7.0% cap · market cap 8.26%
Second Best
Retail
$482.8K
$422.5K – $563.3K
NOI $33,798 @ 7.0% cap · market cap 7.51%
Theoretical Best
Office A
$763.2K
$667.8K – $890.4K
NOI $53,424 @ 7.0% cap · market cap 11.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9,200 VPD
Traffic count
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
421
Businesses Nearby
26k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 86%
Dining 14%
Murphysboro
Shops & Services
11,900 visits/mo
0.2 miles
Huck's
Shops & Services
7,835 visits/mo
0.1 miles
SUBWAY
Dining
3,559 visits/mo
0.2 miles
Regions Bank
Shops & Services
2,797 visits/mo
0.5 miles
Demographics for 62966, IL
14,026
Population
7,125
Households
2
Avg Household Size
43
Median Age
23%
College-Educated
90%
High-School Grad
111.0 sq mi
ZIP Area
126
Density / Sq Mi
$54,242
Median Household Income
$32,109
Median Earnings
$681
Median Rent
$117,800
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?
Grocery and convenience store - Owner-operated facility includes freezers, shelving, and on-site parking.
Where is this grocery and convenience store located?
The property is located at 1904 Walnut St Murphysboro, IL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2,800 SF grocery store building constructed in 1969; 12,920 SF (0.30 acre) corner lot; Coolers, freezers, and shelving included
