CVS Drug Store
For Sale
Contact for pricing
501 West Center Street, Eureka, IL 61530
A 1994-built drug store property with a newly paved parking lot in Eureka, Illinois.
Property Size8,050 SF
Price / SF$130.68
Days on Market101
Property Features for 501 West Center Street
General Information
Standard status
Active
Size
8,050 SF
Property subtype
Retail
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$68,424
Building Details
Year Built
1994
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Matthews
Listed By:
Christian Becker · License #794055
Source:
Crexi
Added: May 22
Changed: Aug 30
Last Checked: Aug 30 at 9:39AM
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 Matthews
Investment Insights
Based on property information with market context.
Situated at 501 West Center Street in Eureka, Illinois, this drug store property contains 8,050 square feet and was constructed in 1994. The site includes a newly paved parking lot, adding a recent physical improvement to the retail asset.
The property is identified with the CVS name and offers a recognizable drug-store format within the Eureka market. Its address and established building vintage provide clear reference points for evaluating the asset.
The property is identified with the CVS name and offers a recognizable drug-store format within the Eureka market. Its address and established building vintage provide clear reference points for evaluating the asset.
Key Highlights
- 8,050‑square‑foot drug store property
- Built in 1994
- Newly paved parking lot
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
$96,359
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
9.16%
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%
$1,927,180
$1.9M
Cap Rate 7%
$1,376,557
$1.4M
Cap Rate 9%
$1,070,656
$1.1M
Market Conditions
NOI Build-Up for 8,050 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
$144.9K $18.00/SF
− Vacancy
−$7.2K −$0.90/SF
EGI
$137.7K $17.10/SF
− OpEx
−$41.3K −$5.13/SF
NOI
$96.4K $11.97/SF
Area
Woodford County, IL
Vacancy
5.00%
Lease Rate
$18.00 /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%
$1,927,180
Cap Rate 7%
$1,376,557
Cap Rate 9%
$1,070,656
Alternative Uses
Best Use
Specialty Retail
$1.47M
$1.29M – $1.72M
NOI $103,241 @ 7.0% cap · market cap 9.81%
Second Best
Retail
$1.38M
$1.20M – $1.61M
NOI $96,359 @ 7.0% cap · market cap 9.16%
Theoretical Best
Multifamily LT 5
$7.04M
$6.16M – $8.22M
NOI $492,944 @ 7.0% cap · market cap 46.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
347
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 61530, IL
6,698
Population
2,804
Households
2.4
Avg Household Size
38
Median Age
34%
College-Educated
97%
High-School Grad
63.7 sq mi
ZIP Area
105
Density / Sq Mi
$68,631
Median Household Income
$42,050
Median Earnings
$690
Median Rent
$166,700
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
- CVS — 501 W Center St, Eureka, IL 61530
- CVS Pharmacy — 501 W Center St, Eureka, IL 61530
- Allison Strack — 501 W Center St, Eureka, IL 615301111
Frequently Asked Questions
What type of property is this?
Drug store - A 1994-built drug store property with a newly paved parking lot in Eureka, Illinois.
Where is this drug store located?
The property is located at 501 West Center Street Eureka, IL.
What is the asking price?
The asking price for this property is $1,052,000.
What are key features of this property?
This property features: 8,050‑square‑foot drug store property; Built in 1994; Newly paved parking lot
