Retail Property For
For Sale
Contact for pricing
305 Lincoln Hwy, Franklin Grove, IL 61031
Retail property with limited competition and new construction.
Property Size10,640 SF
Price / SF$179.50
Days on Market162
Property Features for 305 Lincoln Hwy
General Information
Standard status
Active
Size
10,640 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$127,000
Building Details
Year Built
2026
Tenancy
Single
Listing Agency:
The Boulder Group
(847) 562-0003
Listed By:
Randy Blankstein · License #IL 471005983
Source:
Crexi
Added: Mar 2
Changed: Aug 8
Last Checked: Aug 10 at 4:30AM
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 The Boulder Group
Investment Insights
Based on property information with market context.
This retail property offers a capitalization rate of 6.65%. The property is a new build with a property size of 10640 square feet. The property is intended for retail use and is located in Franklin Grove, IL.
Key Highlights
- 6.65% Cap Rate
- New Build
- Year Built: 2026
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
$130,578
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
6.84%
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%
$2,611,560
$2.6M
Cap Rate 7%
$1,865,400
$1.9M
Cap Rate 9%
$1,450,867
$1.5M
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
$191.5K $18.00/SF
− Vacancy
−$5.0K −$0.47/SF
EGI
$186.5K $17.53/SF
− OpEx
−$56.0K −$5.26/SF
NOI
$130.6K $12.27/SF
Area
Lee County, IL
Vacancy
2.60%
Lease Rate
$18.00 /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%
$2,611,560
Cap Rate 7%
$1,865,400
Cap Rate 9%
$1,450,867
Alternative Uses
Best Use
Retail
$1.87M
$1.63M – $2.18M
NOI $130,578 @ 7.0% cap · market cap 6.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.90M
$2.54M – $3.38M
NOI $203,011 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
80
Businesses Nearby
Explore this area
Business Placement
Demographics for 61031, IL
1,430
Population
654
Households
2.2
Avg Household Size
46
Median Age
26%
College-Educated
94%
High-School Grad
44.9 sq mi
ZIP Area
32
Density / Sq Mi
$74,050
Median Household Income
$39,907
Median Earnings
$822
Median Rent
$148,600
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 property - Retail property with limited competition and new construction.
Where is this retail property located?
The property is located at 305 Lincoln Hwy Franklin Grove, IL.
What is the asking price?
The asking price for this property is $1,909,896.
What are key features of this property?
This property features: 6.65% Cap Rate; New Build; Year Built: 2026
