Retail Center Near Dunlap
For Sale
$495,000
407 4TH Street, Dunlap, IL 61525
4,500 SF retail center with investment income potential.
Property Size4,500 SF
Price / SF$110
Days on Market309
Property Features for 407 4TH Street
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Shopping Center / Retail
Building Details
Year Built
2014
Listing Agency:
RE/MAX
(309) 687-5000
Listed By:
Justin Ball · License #475175281
Source:
Remaxcommercial
Added: Sep 25, 2025
Changed: Jul 6
Last Checked: Jul 30 at 2:26AM
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 RE/MAX
Investment Insights
Based on property information with market context.
This 4,500 SF unit is located in an attractive retail center on Route 91, directly across from Dunlap High School, benefiting from high traffic. The property presents an opportunity for a business owner to occupy the building while generating investment income from other units. Alternatively, it can be leased out as a pure investment. Units A and C are available for lease, while Unit B is currently leased to Debbie's Slots and Gaming Lounge. There are county approved plans to add another building and additional parking to the property on the West side for an additional 3,000 Sq. Ft. of building. Financial information on the leased unit is available with a signed Non-Disclosure Agreement.
Key Highlights
- High‑traffic location on Route 91, directly across from Dunlap High School.
- 4,500 SF attractive retail center with investment income potential from multiple units.
- Opportunity for business owner to occupy and generate income or lease as a pure investment.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.3k | $12.96 |
| − Vacancy | −$4.7k | −$1.04 |
| EGI | $53.7k | $11.92 |
| − OpEx | −$16.1k | −$3.58 |
| NOI | $37.6k | $8.35 |
4,500 SF · lease $12.96/SF/yr · vacancy 8.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$536.5K
$469.5K – $626.0K
NOI $37,558 @ 7.0% cap · market cap 7.59%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$3.94M
$3.44M – $4.59M
NOI $275,559 @ 7.0% cap · market cap 55.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
75
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 61525, IL
11,433
Population
4,324
Households
2.6
Avg Household Size
36
Median Age
69%
College-Educated
97%
High-School Grad
32.7 sq mi
ZIP Area
350
Density / Sq Mi
$153,300
Median Household Income
$88,125
Median Earnings
$1,167
Median Rent
$314,800
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.
Frequently Asked Questions
What type of property is this?
Shopping center - 4,500 SF retail center with investment income potential.
Where is this shopping center located?
The property is located at 407 4TH Street Dunlap, IL.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: High‑traffic location on Route 91, directly across from Dunlap High School.; 4,500 SF attractive retail center with investment income potential from multiple units.; Opportunity for business owner to occupy and generate income or lease as a pure investment.
