Shadow-Anchored Retail Shopping
5801 Belleville Crossing St Belleville, IL 62226
5801 Belleville Crossing St, Belleville, IL, 62226
$14,100,000
For Sale
$14,100,000
86K SF retail center shadow anchored to Target and Home Depot in Belleville, IL, with national tenants including PetSmart and Ross.
Property Size86,412 SF
Price / SF$163.17
Days on Market30
Property Features for 5801 Belleville Crossing St
General Information
- Standard status
- Active
- Size
- 86,412 SF
- Property subtype
- Shopping Strip
Building Details
- Year Built
- 2007
Listing agency
Atlanta Office
(678) 808-2746
Listed by
Eric Abbott · License #License(s): GA: 407938
(678) 808-2746
Source
Marcusmillichap
Added: Jun 22 Updated: Jul 21 at 2:11PM Checked: Jul 21 at 2:11PM
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 Atlanta Office
Investment Insights
Based on property information with market context.
Belleville Crossing is an 86K SF retail center in Belleville, IL, featuring a strong mix of national, credit, and service-based tenants. The center includes PetSmart, Ross, Dollar Tree, Hibbett, Famous Footwear, Bath & Body Works, and more. Tenant commitment is demonstrated by an average tenant tenure of 13 years, with 55%+ of the GLA present for 16+ years.
The property is shadow anchored to Target and Home Depot, which helps support consistent retail traffic for the surrounding tenant mix. Belleville Crossing reports over 2.5M visits per year and averages 5%+ year-over-year growth over the past three years.
The retail mix is supported by leasing momentum, including Ross recently executing a new 10-year lease. A stated blended yield of 7.25% accompanies the listing, and the remarks note embedded upside tied to underpaying junior box tenants as larger leases roll or are extended.
The property is shadow anchored to Target and Home Depot, which helps support consistent retail traffic for the surrounding tenant mix. Belleville Crossing reports over 2.5M visits per year and averages 5%+ year-over-year growth over the past three years.
The retail mix is supported by leasing momentum, including Ross recently executing a new 10-year lease. A stated blended yield of 7.25% accompanies the listing, and the remarks note embedded upside tied to underpaying junior box tenants as larger leases roll or are extended.
Key Highlights
- 86,000 SF retail center in Belleville, IL, shadow anchored to Target and Home Depot
- National and credit tenants include PetSmart, Ross, Dollar Tree, Hibbett, Famous Footwear, and Bath & Body Works
- Average tenant tenure of 13 years, with 55%+ of the GLA in place for 16+ years
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 | $1.35M | $15.60 |
| − Vacancy | −$114.6k | −$1.33 |
| EGI | $1.23M | $14.27 |
| − OpEx | −$370.0k | −$4.28 |
| NOI | $863.4k | $9.99 |
86,412 SF · lease $15.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$12.33M
$10.79M – $14.39M
NOI $863,411 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$20.46M
$17.90M – $23.87M
NOI $1,431,978 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
PetSmart
(Bike/Boat/Book/etc) Store
TagWorks
(Bike/Boat/Book/etc) Store
PetSmart Dog Training
Animal Training
PetSmart Grooming
Pet Grooming Service
Similar For Sale Nearby
FAQs
What type of property is this?
Shopping center - 86K SF retail center shadow anchored to Target and Home Depot in Belleville, IL, with national tenants including PetSmart and Ross.
Where is this shopping center located?
The property is located at 5801 Belleville Crossing St Belleville, IL.
What is the asking price?
The asking price for this property is $14,100,000.
What are key features of this property?
This property features: 86,000 SF retail center in Belleville, IL, shadow anchored to Target and Home Depot; National and credit tenants include PetSmart, Ross, Dollar Tree, Hibbett, Famous Footwear, and Bath & Body Works; Average tenant tenure of 13 years, with 55%+ of the GLA in place for 16+ years
