Storefront Property with Central
For Sale
$314,900
405 E Main Street, Mahomet, IL 61853
Commercially zoned storefront with central air conditioning on E Main Street.
Property Size1,260 SF
Days on Market12
Property Features for 405 E Main Street
General Information
Standard status
Active
Size
1,260 SF
Property subtype
Business Opportunity
Zoning
COMMR
Taxes and HOA fees
Annual Taxes
$3,368
Amenities
Central Air
Building Details
Building Size
1,260 SF
Stories
1
Listing Agency:
(217) 840-4381
Listed By:
Brad Blumenshine
(217) 840-4381
Source:
Evrealestate
Added: Aug 8
Changed: Aug 18
Last Checked: Aug 19 at 6:23AM
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 Brad Blumenshine
Investment Insights
Based on property information with market context.
This storefront property at 405 E Main Street includes central air conditioning and is designated COMMR zoning. The property is located in Mahomet, Illinois, within Champaign County, with access from Main Street via RT 47.
Key Highlights
- Storefront property at 405 E Main Street, Mahomet, IL 61853
- COMMR zoning designation
- Central air conditioning
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
$10,653
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
3.38%
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%
$213,060
$213.1K
Cap Rate 7%
$152,186
$152.2K
Cap Rate 9%
$118,367
$118.4K
Market Conditions
NOI Build-Up for 1,260 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
$16.6K $13.20/SF
− Vacancy
−$1.4K −$1.12/SF
EGI
$15.2K $12.08/SF
− OpEx
−$4.6K −$3.62/SF
NOI
$10.7K $8.45/SF
Area
Champaign County, IL
Vacancy
8.50%
Lease Rate
$13.20 /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%
$213,060
Cap Rate 7%
$152,186
Cap Rate 9%
$118,367
Alternative Uses
Best Use
Retail
$152.2K
$133.2K – $177.6K
NOI $10,653 @ 7.0% cap · market cap 3.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$262.1K
$229.4K – $305.8K
NOI $18,350 @ 7.0% cap · market cap 5.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
406
Businesses Nearby
69k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 33%
Dining 31%
Groceries 30%
Home Improvements & Furnishings 6%
Schnucks
Groceries
20,721 visits/mo
0.5 miles
Circle K
Shops & Services
15,245 visits/mo
0.1 miles
Arby's
Dining
8,585 visits/mo
0.3 miles
Jimmy John's
Dining
5,925 visits/mo
0.2 miles
Monical's Pizza
Dining
4,644 visits/mo
0.2 miles
Demographics for 61853, IL
14,218
Population
5,338
Households
2.7
Avg Household Size
38
Median Age
52%
College-Educated
97%
High-School Grad
48.0 sq mi
ZIP Area
296
Density / Sq Mi
$114,974
Median Household Income
$56,473
Median Earnings
$1,226
Median Rent
$281,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Main Street Botanicals — 410 E Main St, Mahomet, IL 61853
Frequently Asked Questions
What type of property is this?
Storefront property - Commercially zoned storefront with central air conditioning on E Main Street.
Where is this storefront property located?
The property is located at 405 E Main Street Mahomet, IL.
What is the asking price?
The asking price for this property is $314,900.
What are key features of this property?
This property features: Storefront property at 405 E Main Street, Mahomet, IL 61853; COMMR zoning designation; Central air conditioning
