Building Details

Building Size 18,057 SF

Listed By: Timothy Nichols · License #License(s): IL: 475.159619 Show Phone

Source: Marcusmillichap

Added: Jul 24 Changed: Sep 6 Last Checked: Sep 13 at 4:21AM

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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 Timothy Nichols

Investment Insights

Based on property information with market context.

Marcus & Millichap is pleased to present the 4-Property Central Illinois GPM Portfolio, offered for sale. The portfolio includes four gas stations and related retail/commercial spaces, with a total property size of 18,057 square feet.

The properties are located at 401 Market St, Ogden, IL 61859. The public remarks note a 7.25% figure, but no additional performance or underwriting details were provided in the listing information.

This offering is presented as a multi-property portfolio, suitable for buyers seeking consolidated ownership across several gas station and commercial retail assets within the same portfolio.

Key Highlights

• 4‑property gas station and retail portfolio in Ogden, Illinois
• Central Illinois GPM portfolio offered for sale
• Remarks include a 7.25% figure

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

$204,038

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

3.55%

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%

$4,080,760 $4.1M

Cap Rate 7%

$2,914,829 $2.9M

Cap Rate 9%

$2,267,089 $2.3M

Market Conditions

NOI Build-Up for 18,057 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

$288.2K $15.96/SF

− Vacancy

−$16.1K −$0.89/SF

EGI

$272.1K $15.07/SF

− OpEx

−$68.0K −$3.77/SF

NOI

$204.0K $11.30/SF

Area

Champaign County, IL

Vacancy

5.60%

Lease Rate

$15.96 /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%

$4,080,760

Cap Rate 7%

$2,914,829

Cap Rate 9%

$2,267,089

Alternative Uses

Best Use

Specialty Retail

$2.91M

$2.55M – $3.40M (±1% cap)

NOI $204,038 @ 7.0% cap · market cap 3.55%

Second Best

Retail

$2.18M

$1.91M – $2.54M (±1% cap)

NOI $152,665 @ 7.0% cap · market cap 2.65%

Theoretical Best

Office A

$3.76M

$3.29M – $4.38M (±1% cap)

NOI $262,968 @ 7.0% cap · market cap 4.57%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Phillips 66 Gas Station Village Pantry Grocery & Convenience Store Western Union Bank Godfather's Pizza Restaurant

Suggested Use

Top Pick Storage Facility Big Box & Wholesale Store (Bike/Boat/Book/etc) Store Building Supply Hair Salon Nail 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.

Location Intelligence

Trade Area within ½ mile

66

Businesses Nearby

14k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 62% Groceries 38%

Phillips 66 Shops & Services

8,608 visits/mo 0.3 miles

Dollar General Market Groceries

5,361 visits/mo 0.1 miles

Demographics for 61859, IL

1,119

Population

478

Households

2.3

Avg Household Size

42

Median Age

25%

College-Educated

97%

High-School Grad

30.3 sq mi

ZIP Area

37

Density / Sq Mi

$99,583

Median Household Income

$49,000

Median Earnings

$1,266

Median Rent

$174,400

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

Frequently Asked Questions

What type of property is this?

Gas station - For sale portfolio of four gas station and retail properties in Ogden, Illinois.

Where is this gas station located?

The property is located at 401 Market St Ogden, IL.

What is the asking price?

The asking price for this property is $5,754,826.

What are key features of this property?

This property features: 4‑property gas station and retail portfolio in Ogden, Illinois; Central Illinois GPM portfolio offered for sale; Remarks include a 7.25% figure