Listing Agency: The Boulder Group - Corporate Show Phone

Listed By: Randy Blankstein · License #471005983

Source: Moodyscre

Added: Jan 12 Changed: Aug 29 Last Checked: Aug 29 at 10:17PM

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Investment Insights

Based on property information with market context.

This 10,640-square-foot commercial property was constructed in 2024 and is subject to an absolute NNN lease, with no landlord responsibilities identified. More than 13 years remain on the lease, and rent increases by 5% every five years. The tenant carries an S&P BBB rating.

The property is located at 2950 Overpass Rd in Riverton, Illinois, within the Springfield MSA. Interstate 72 is nearby and records 16,000 VPD, providing a connection between Springfield and Decatur. The surrounding area includes 113,000+ residents within a 10-mile radius, while average household income exceeds $96,000 within 3 miles.

Key Highlights

• 10,640‑square‑foot commercial property constructed in 2024
• Absolute NNN lease with no landlord responsibilities
• More than 13 years remain on the lease

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

$102,782

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

4.63%

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%

$2,055,640 $2.1M

Cap Rate 7%

$1,468,314 $1.5M

Cap Rate 9%

$1,142,022 $1.1M

Market Conditions

NOI Build-Up for 10,640 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

$159.6K $15.00/SF

− Vacancy

−$12.8K −$1.20/SF

EGI

$146.8K $13.80/SF

− OpEx

−$44.0K −$4.14/SF

NOI

$102.8K $9.66/SF

Area

Sangamon County, IL

Vacancy

8.00%

Lease Rate

$15.00 /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%

$2,055,640

Cap Rate 7%

$1,468,314

Cap Rate 9%

$1,142,022

Alternative Uses

Best Use

Retail

$1.47M

$1.28M – $1.71M (±1% cap)

NOI $102,782 @ 7.0% cap · market cap 4.63%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.35M

$2.06M – $2.74M (±1% cap)

NOI $164,493 @ 7.0% cap · market cap 7.42%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Dollar General Discount Store

Suggested Use

Top Pick Auto Repair Shop HVAC Service Dental Office (Bike/Boat/Book/etc) Store Parking Lot & Garage Kitchen & Bath Showroom

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

53

Businesses Nearby

5k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Dollar General Shops & Services

4,968 visits/mo 0.0 miles

Demographics for 62561, IL

5,229

Population

2,437

Households

2.1

Avg Household Size

40

Median Age

19%

College-Educated

93%

High-School Grad

23.2 sq mi

ZIP Area

225

Density / Sq Mi

$78,519

Median Household Income

$43,305

Median Earnings

$1,034

Median Rent

$156,400

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

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

NNN property - Recently constructed commercial property with a long-term absolute NNN lease and scheduled rental increases.

Where is this nnn property located?

The property is located at 2950 Overpass Rd Riverton, IL.

What is the asking price?

The asking price for this property is $2,218,236.

What are key features of this property?

This property features: 10,640‑square‑foot commercial property constructed in 2024; Absolute NNN lease with no landlord responsibilities; More than 13 years remain on the lease