601 E Outerbelt, Carrollton, IL 62324

Building Details

Year Built 2023 More

Tenancy Single More

Listing Agency: Cissell Mueller Company Show Phone

Listed By: Robert D Cissell · License IL #1999024539 Show Phone

Source: Moodyscre

Added: Oct 26 Changed: Nov 8 Last Checked: Nov 10 at 11:34AM

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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 Cissell Mueller Company

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Investment Insights

Based on property information with market context.

Built in 2023, this 10,640-square-foot retail property is occupied by Dollar General and sits on a 0.75-acre site. The NNN lease is guaranteed by Dollar General Corporation and is scheduled to expire on 09/30/32. Three five-year extension options include 10% increases.

The property is located at 601 E Outerbelt in Carrollton, Illinois.

Key Highlights

• 10,640‑square‑foot retail building on a 0.75‑acre site
• Occupied by Dollar General, with a lease guaranteed by Dollar General Corporation
• NNN lease scheduled to expire 09/30/32

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$80,237

Cap Rate

6.69%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,604,740 $1.6M

Cap Rate 7%

$1,146,243 $1.1M

Cap Rate 9%

$891,522 $891.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,640 SF

Gross rent

$121.3K $11.40/SF

− Vacancy

−$6.7K −$0.63/SF

EGI

$114.6K $10.77/SF

− OpEx

−$34.4K −$3.23/SF

NOI

$80.2K $7.54/SF

Area

Adams County, IL

Vacancy

5.50%

Lease Rate

$11.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,604,740

Cap Rate 7%

$1,146,243

Cap Rate 9%

$891,522

Alternative Uses

Best Use

Retail

$1.15M

$1.00M – $1.34M (±1% cap)

NOI $80,237 @ 7.0% cap · market cap 6.69%

Second Best

—

—

no second resolved use

Theoretical Best

Healthcare Medical

$2.13M

$1.86M – $2.48M (±1% cap)

NOI $148,784 @ 7.0% cap · market cap 12.40%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Retail space

Lease Details

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1

Businesses Nearby

Explore this area Business Placement

Demographics for 62324, IL

1,278

Population

565

Households

2.3

Avg Household Size

44

Median Age

10%

College-Educated

83%

High-School Grad

94.0 sq mi

ZIP Area

14

Density / Sq Mi

$73,218

Median Household Income

$29,907

Median Earnings

$828

Median Rent

$101,100

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

Frequently Asked Questions

What type of property is this?

NNN property - The property has a corporate-guaranteed NNN lease with three five-year renewal options.

Where is this nnn property located?

The property is located at 601 E Outerbelt Carrollton, IL.

What is the asking price?

The asking price for this property is $1,200,000.

What are key features of this property?

This property features: 10,640‑square‑foot retail building on a 0.75‑acre site; Occupied by Dollar General, with a lease guaranteed by Dollar General Corporation; NNN lease scheduled to expire 09/30/32