Building Details

Year built 1900

Floors in Building 1

Number of units 1

Building materials Wood, Vinyl Siding

Roof type Composition

Listing Agency: Infiniti Properties, Inc. M***@Gmail.com Show Phone

Listed By: Ned Malley · License #471007341 Show Phone

Added: Sep 14 Last Checked: Sep 16 at 8:06PM

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MLS# 12758907

Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This 2,115-square-foot grocery and convenience store property includes a functional restaurant component with a commercial kitchen, large walk-in refrigerator, and checkout counter. The building also serves as a liquor store and sits on a site with extensive parking. Constructed in 1900, the property features wood and vinyl siding, composition roofing, and central air conditioning.

Located at 541 University Parkway in University Park, Illinois, the property is offered with both the business and real estate. Its combination of retail space, food-service improvements, refrigeration, and checkout infrastructure supports multiple established commercial functions within one building.

Key Highlights

• 2,115‑square‑foot grocery, convenience, and liquor store building
• Functional restaurant area with commercial kitchen
• Large walk‑in refrigerator and checkout counter

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

$25,273

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

4.21%

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%

$505,460 $505.5K

Cap Rate 7%

$361,043 $361.0K

Cap Rate 9%

$280,811 $280.8K

Market Conditions

NOI Build-Up for 2,115 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

$36.0K $17.04/SF

− Vacancy

−$2.3K −$1.11/SF

EGI

$33.7K $15.93/SF

− OpEx

−$8.4K −$3.98/SF

NOI

$25.3K $11.95/SF

Area

Will County, IL

Vacancy

6.50%

Lease Rate

$17.04 /SF/Yr

Expense Ratio

25.00%

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%

$505,460

Cap Rate 7%

$361,043

Cap Rate 9%

$280,811

Alternative Uses

Best Use

Specialty Retail

$361.0K

$315.9K – $421.2K (±1% cap)

NOI $25,273 @ 7.0% cap · market cap 4.21%

Second Best

Retail

$285.5K

$249.8K – $333.1K (±1% cap)

NOI $19,987 @ 7.0% cap · market cap 3.33%

Theoretical Best

Office A

$479.7K

$419.7K – $559.6K (±1% cap)

NOI $33,578 @ 7.0% cap · market cap 5.60%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

University Parkway Food ... (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Spa & Massage Center Dental Office Nail Salon Electrical Service Building Supply Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

172

Businesses Nearby

23k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Speedway Shops & Services

5,790 visits/mo 0.2 miles

Dollar General Shops & Services

5,118 visits/mo 0.1 miles

BP Shops & Services

5,083 visits/mo 0.2 miles

Family Dollar Shops & Services

3,641 visits/mo 0.4 miles

7-Eleven Shops & Services

3,090 visits/mo 0.2 miles

Demographics for 60484, IL

6,761

Population

2,410

Households

2.8

Avg Household Size

31

Median Age

25%

College-Educated

94%

High-School Grad

7.5 sq mi

ZIP Area

901

Density / Sq Mi

$64,295

Median Household Income

$35,309

Median Earnings

$1,534

Median Rent

$140,500

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this grocery and convenience stores located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Retail property with an operating restaurant layout, commercial kitchen, walk-in refrigeration, checkout counter, and extensive parking.

Where is this grocery and convenience store located?

The property is located at 541 University Parkway University Park, IL.

What is the asking price?

The asking price for this property is $599,900.

What are key features of this property?

This property features: 2,115‑square‑foot grocery, convenience, and liquor store building; Functional restaurant area with commercial kitchen; Large walk‑in refrigerator and checkout counter