Collision Repair
For Sale
Contact for pricing
340 Detroit Avenue, Morton, IL 61550
Occupied by Caliber Collision under an absolute corporate NNN lease with renewal options.
Property Size15,000 SF
Lot Size1.38 Acres
Price / SF$128.87
Days on Market50
Property Features for 340 Detroit Avenue
General Information
Standard status
Active
Size
15,000 SF
Lot size
1.38 Acres
Property subtype
Retail
Site & Location
Traffic Count
9,400 vehicles/day
Highway Access
Yes
Road Access
Yes
Outdoor Storage
Yes
Additional Details
Asking Price
$1,933,000
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
TD Commercial Group
Listed By:
Carlos Alonso · License #FL SL3382569
Source:
Crexi
Added: Sep 1
Changed: Oct 6
Last Checked: Oct 19 at 6:20AM
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 TD Commercial Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property is an approximately 15,000-square-foot collision-repair facility on approximately 1.38 acres in Morton, Illinois. Caliber Collision occupies the building under an Absolute Corporate NNN lease expiring December 1, 2038. Lease provisions include 10% rent increases every five years and two additional five-year renewal options. The site includes specialized improvements serving collision-repair operations, while approximately 25% building coverage leaves exterior area for parking, vehicle staging, storage, and circulation.
Located on Detroit Avenue, the property has access to I-74 and I-155 and benefits from approximately 9,400 vehicles per day on the roadway. Surrounding activity includes industrial employers, retailers, schools, hotels, and healthcare providers. Caliber Collision operates more than 1,800 service centers across 41 states, and the lease includes a corporate guaranty.
Located on Detroit Avenue, the property has access to I-74 and I-155 and benefits from approximately 9,400 vehicles per day on the roadway. Surrounding activity includes industrial employers, retailers, schools, hotels, and healthcare providers. Caliber Collision operates more than 1,800 service centers across 41 states, and the lease includes a corporate guaranty.
Key Highlights
- Approximately 15,000‑square‑foot collision‑repair facility on approximately 1.38 acres
- Absolute Corporate NNN lease expires December 1, 2038
- 10% rent increases every five years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$141,750
Cap Rate
7.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,835,000
$2.8M
Cap Rate 7%
$2,025,000
$2.0M
Cap Rate 9%
$1,575,000
$1.6M
Market Conditions
NOI Build-Up for 15,000 SF
Gross rent
$225.0K $15.00/SF
− Vacancy
−$22.5K −$1.50/SF
EGI
$202.5K $13.50/SF
− OpEx
−$60.8K −$4.05/SF
NOI
$141.8K $9.45/SF
Area
Tazewell County, IL
Vacancy
10.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,835,000
Cap Rate 7%
$2,025,000
Cap Rate 9%
$1,575,000
Alternative Uses
Best Use
Retail
$2.03M
$1.77M – $2.36M
NOI $141,750 @ 7.0% cap · market cap 7.33%
Second Best
Industrial
$1.38M
$1.21M – $1.61M
NOI $96,447 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$5.87M
$5.14M – $6.85M
NOI $410,882 @ 7.0% cap · market cap 21.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
9,400 VPD
Traffic count
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
670
Businesses Nearby
12k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 78%
Home Improvements & Furnishings 22%
O'Reilly Auto Parts
Shops & Services
4,075 visits/mo
0.5 miles
Marathon
Shops & Services
3,516 visits/mo
0.4 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
2,655 visits/mo
0.5 miles
Kaizen Food And Gas
Shops & Services
704 visits/mo
0.4 miles
Napa Auto Parts
Shops & Services
616 visits/mo
0.3 miles
Demographics for 61550, IL
18,488
Population
8,053
Households
2.3
Avg Household Size
42
Median Age
40%
College-Educated
97%
High-School Grad
41.2 sq mi
ZIP Area
449
Density / Sq Mi
$92,269
Median Household Income
$48,692
Median Earnings
$1,001
Median Rent
$247,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Morton Diagnostic Repair — 220 S Main St, Morton, IL 61550
- Raisor Motor Company — 307 S Main St, Morton, IL 61550
- Caliber Collision — 340 Detroit Ave, Morton, IL 61550
- Comprehensive Collision Center — 342 Detroit Ave, Morton, IL 61550
- Lighthouse Buick GMC Service Center — 100 W Jackson St, Morton, IL 61550
Frequently Asked Questions
What type of property is this?
Auto shop - Occupied by Caliber Collision under an absolute corporate NNN lease with renewal options.
Where is this auto shop located?
The property is located at 340 Detroit Avenue Morton, IL.
What is the asking price?
The asking price for this property is $1,933,000.
What are key features of this property?
This property features: Approximately 15,000‑square‑foot collision‑repair facility on approximately 1.38 acres; Absolute Corporate NNN lease expires December 1, 2038; 10% rent increases every five years
