Building Details

Building Size 2,460 SF

Year Built 1971

Buildings 1

Listing Agency: Vieweg Real Estate

Listed By: Cole Babcock Show Phone

Source: Commercialcafe

Added: Aug 15 Changed: Oct 14 Last Checked: Oct 12 at 4:35PM

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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 Vieweg Real Estate

Investment Insights

Based on property information with market context.

Located at 301 S Chestnut St in Le Roy, Illinois, this 2,460-square-foot automotive shop and dealership was built in 1971. The building combines a customer-facing office area with a reception desk, waiting area, and private office. Its service component includes three operating bays with 10-foot overhead doors, plus a separate wash bay. The corner-lot setting provides convenient access and space for ample parking.

The property is 12 miles east of Bloomington-Normal and positioned just off Interstate 74. Its layout supports automotive service and dealership operations, with dedicated areas for customer reception, administration, vehicle work, and washing.

Key Highlights

• 2,460 SF automotive shop and dealership built in 1971
• Three working service bays with 10‑foot overhead doors
• Separate wash bay for vehicle service operations

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,764

Cap Rate

6.79%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$475,280 $475.3K

Cap Rate 7%

$339,486 $339.5K

Cap Rate 9%

$264,044 $264.0K

Market Conditions

NOI Build-Up for 2,460 SF

Gross rent

$36.9K $15.00/SF

− Vacancy

−$3.0K −$1.20/SF

EGI

$33.9K $13.80/SF

− OpEx

−$10.2K −$4.14/SF

NOI

$23.8K $9.66/SF

Area

McLean 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 Rate 5%

$475,280

Cap Rate 7%

$339,486

Cap Rate 9%

$264,044

Alternative Uses

Best Use

Retail

$339.5K

$297.1K – $396.1K (±1% cap)

NOI $23,764 @ 7.0% cap · market cap 6.79%

Second Best

Industrial

$242.7K

$212.4K – $283.2K (±1% cap)

NOI $16,989 @ 7.0% cap · market cap 4.85%

Theoretical Best

Office A

$512.8K

$448.7K – $598.3K (±1% cap)

NOI $35,896 @ 7.0% cap · market cap 10.26%

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

Property Analytics

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Current Use

Auto shops

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Auto Parts Store Electrical Service Hair Salon

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

Lease Details

3

Service bays

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

258

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 61752, IL

4,250

Population

1,880

Households

2.3

Avg Household Size

41

Median Age

37%

College-Educated

97%

High-School Grad

86.4 sq mi

ZIP Area

49

Density / Sq Mi

$86,845

Median Household Income

$50,248

Median Earnings

$791

Median Rent

$176,100

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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What type of property is this? Where is this auto shops located? What is the asking price? Find similar properties What are key features of this property?

Similar Off Market Nearby

• Love's Truck Care — 505 Persimmon Dr, Le Roy, IL 61752
• 150 Speed Shop — 208 N Walnut St, Le Roy, IL 61752
• Hail Automotive — 502 W Washington St, Le Roy, IL 61752
• Hutton Auto Care — 409 N Walnut St, Le Roy, IL 61752

Frequently Asked Questions

What type of property is this?

Auto shop - Corner-lot automotive facility includes office space, service bays, and a separate wash bay.

Where is this auto shop located?

The property is located at 301 S Chestnut St Le Roy, IL.

What is the asking price?

The asking price for this property is $350,000.

What are key features of this property?

This property features: 2,460 SF automotive shop and dealership built in 1971; Three working service bays with 10‑foot overhead doors; Separate wash bay for vehicle service operations