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Retail Building in Downtown Geneva

515 W State St Geneva, IL 60134

Claim this Listing
For Sale
$2,100,000

Single-user retail building in a prominent corner location.

Type:Street Retail
Property size:
12,000 SF
Lot size:
0.60 Acres
Price / SF:
$175/SF
Added:
May 21, 2026
Days on Market:
53
Last Refresh:
May 21 at 10:43 pm

Property Features for 515 W State St

General Information

Standard status
Active
Size
12,000 SF
Lot size
0.60 Acres
Property subtype
Street Retail

Building Details

Year Built
1953

Listing office SVN | Landmark Commercial Real Estate

Listing date May 21, 2026

Source Thebrokerlist

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


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

Local 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 $216.0k $18.00
− Vacancy −$9.1k −$0.76
EGI $206.9k $17.24
− OpEx −$62.1k −$5.17
NOI $144.8k $12.07
12,000 SF · lease $18.00/SF/yr · vacancy 4.20% · expense 30.00%

Alternative Uses

Best Use
Retail
$2.07M
$1.81M – $2.41M (±1% cap)
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 (±1% cap)
NOI $290,014 @ 7.0% cap · market cap 13.81%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

SavWay Fine Wines ... (Bike/Boat/Book/etc) Store

Suggested Use

Auto Parts Store Daycare Center Storage Facility Plumbing Service Butcher Pet Grooming Service Locksmith Home Appliance Store Fish Market (Bike/Boat/Book/etc) Store

Zoning and permitted uses should be independently verified with local authorities.

Similar Off Market Nearby

  • Designs by Janet — 427 Anderson Blvd, Geneva, IL 60134
  • Floral Wonders — 310 Campbell St, Geneva, IL 60134
  • Design Merchants — 125 s 7th st, geneva, il 60134

FAQs

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
Contact an agent
More about this property
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