Retail Building in Downtown
For Sale
$2,100,000
515 W State St, Geneva, IL 60134
Single-user retail building in a prominent corner location.
Property Size12,165 SF
Lot Size0.60 Acres
Price / SF$175
Days on Market154
Property Features for 515 W State St
General Information
Standard status
Active
Size
12,165 SF
Lot size
0.60 Acres
Property subtype
Retail
Building Details
Building Size
12,165 SF
Year Built
1953
Listing Agency:
SVN | Landmark Commercial Real Estate
Listed By:
Neil Johnson · License #471012919
(630) 669-1414
Source:
Svn
Added: May 21
Changed: Oct 4
Last Checked: Oct 20 at 6:15PM
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 SVN | Landmark Commercial Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property is a single-user retail building with an area exceeding 12,000 square feet, situated on 0.6 acres. It occupies a prominent corner location in downtown Geneva, Illinois, specifically at the northeast corner of State Street (Route 38) and Sixth Street. The surrounding area is a mixed-use commercial and residential zone, with a variety of shopping, restaurant, and office properties. Across Sixth Street is a retail center anchored by Ace Hardware and 7-Eleven. The property includes generous onsite private parking and a convenient delivery area in the rear. The location benefits from high traffic volume, with CoStar reporting 20,200 vehicles per day. Demographics within a 5-mile radius include a population of 106,657 and an average household income of $175,487. The property is suitable for various businesses, including grocery stores, specialty markets, liquor stores, furniture stores, fitness centers, or entertainment venues. The existing liquor store business is not for sale. The property presents an owner-user or redevelopment opportunity and includes coolers and storage space. Fixtures and equipment are negotiable.
Key Highlights
- Prominent corner location on State St (IL Rt 38) in downtown Geneva, IL
- 12,000+ sf building on 0.6 acre site suitable for owner‑user or redevelopment
- Generous onsite private parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$144,850
Cap Rate
6.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,897,000
$2.9M
Cap Rate 7%
$2,069,286
$2.1M
Cap Rate 9%
$1,609,444
$1.6M
Market Conditions
NOI Build-Up for 12,000 SF
Gross rent
$216.0K $18.00/SF
− Vacancy
−$9.1K −$0.76/SF
EGI
$206.9K $17.24/SF
− OpEx
−$62.1K −$5.17/SF
NOI
$144.8K $12.07/SF
Area
Kane County, IL
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,897,000
Cap Rate 7%
$2,069,286
Cap Rate 9%
$1,609,444
Alternative Uses
Best Use
Retail
$2.07M
$1.81M – $2.41M
NOI $144,850 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.14M
$3.63M – $4.83M
NOI $290,014 @ 7.0% cap · market cap 13.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
799
Businesses Nearby
27k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 67%
Dining 33%
Aldi
Groceries
18,219 visits/mo
0.4 miles
Dunkin' Donuts
Dining
5,871 visits/mo
0.1 miles
Dairy Queen
Dining
3,283 visits/mo
0.3 miles
Demographics for 60134, IL
30,503
Population
11,159
Households
2.7
Avg Household Size
42
Median Age
66%
College-Educated
97%
High-School Grad
14.6 sq mi
ZIP Area
2,089
Density / Sq Mi
$148,283
Median Household Income
$66,586
Median Earnings
$1,816
Median Rent
$427,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Floral Wonders — 310 Campbell St, Geneva, IL 60134
Frequently Asked Questions
What type of property is this?
Storefront property - Single-user retail building in a prominent corner location.
Where is this storefront property located?
The property is located at 515 W State St Geneva, IL.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Prominent corner location on State St (IL Rt 38) in downtown Geneva, IL; 12,000+ sf building on 0.6 acre site suitable for owner‑user or redevelopment; Generous onsite private parking
