Equipped Auto Service
For Sale
$80,000
Pending
500 Washington Street, Prophetstown, IL 61277
Auto service facility with equipment included and COMMR zoning for continued automotive operations.
Property Size1,377 SF
Days on Market9
Property Features for 500 Washington Street
General Information
Standard status
Pending
Size
1,377 SF
Property subtype
Business Opportunity
Zoning
COMMR
Taxes and HOA fees
Annual Taxes
$737
Building Details
Building Size
1,377 SF
Stories
1
Listing Agency:
RE/MAX Sauk Valley
(815) 625-3722
Listed By:
Patrick Foley
Source:
Jjillrealtygroup
Added: Aug 22
Changed: Aug 29
Last Checked: Aug 25 at 9:21AM
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 Sauk Valley
Investment Insights
Based on property information with market context.
This auto service center is offered with its equipment included, providing an existing setup for automotive service and repair operations. The property carries COMMR zoning and is positioned for continued commercial use as an auto shop or garage.
The property is located at 500 Washington Street in Prophetstown, Illinois, within ZIP code 61277. Equipment conveyance and the existing automotive configuration may support an operator seeking an established service location.
The property is located at 500 Washington Street in Prophetstown, Illinois, within ZIP code 61277. Equipment conveyance and the existing automotive configuration may support an operator seeking an established service location.
Key Highlights
- Auto service center and garage configuration
- Equipment included with the sale
- COMMR zoning
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
$6,832
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
8.54%
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%
$136,640
$136.6K
Cap Rate 7%
$97,600
$97.6K
Cap Rate 9%
$75,911
$75.9K
Market Conditions
NOI Build-Up for 1,377 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
$10.3K $7.50/SF
− Vacancy
−$568 −$0.41/SF
EGI
$9.8K $7.09/SF
− OpEx
−$2.9K −$2.13/SF
NOI
$6.8K $4.96/SF
Area
Whiteside County, IL
Vacancy
5.50%
Lease Rate
$7.50 /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%
$136,640
Cap Rate 7%
$97,600
Cap Rate 9%
$75,911
Alternative Uses
Best Use
Retail
$163.6K
$143.1K – $190.9K
NOI $11,451 @ 7.0% cap · market cap 14.31%
Second Best
Industrial
$97.6K
$85.4K – $113.9K
NOI $6,832 @ 7.0% cap · market cap 8.54%
Theoretical Best
Specialty Retail
$257.6K
$225.4K – $300.5K
NOI $18,032 @ 7.0% cap · market cap 22.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
151
Businesses Nearby
3k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 41%
Dining 41%
Home Improvements & Furnishings 17%
Conoco
Shops & Services
1,432 visits/mo
0.2 miles
SUBWAY
Dining
1,181 visits/mo
0.1 miles
Hometown Hardware
Home Improvements & Furnishings
605 visits/mo
0.1 miles
Pizza Joe's
Dining
243 visits/mo
0.4 miles
Demographics for 61277, IL
3,233
Population
1,325
Households
2.4
Avg Household Size
45
Median Age
16%
College-Educated
90%
High-School Grad
133.7 sq mi
ZIP Area
24
Density / Sq Mi
$72,837
Median Household Income
$40,000
Median Earnings
$735
Median Rent
$134,000
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
- Johnson Service Center — 607 Grove St, Prophetstown, IL 61277
- Dave's Service Station — 500 Washington St, Prophetstown, IL 61277
- Soleta Classic Restoration — 80 Grove St, Prophetstown, IL 61277
Frequently Asked Questions
What type of property is this?
Auto shop - Auto service facility with equipment included and COMMR zoning for continued automotive operations.
Where is this auto shop located?
The property is located at 500 Washington Street Prophetstown, IL.
What is the asking price?
The asking price for this property is $80,000.
What are key features of this property?
This property features: Auto service center and garage configuration; Equipment included with the sale; COMMR zoning
