Auto Repair and Sales
For Sale
Contact for pricing
700 South Illinois Street, Belleville, IL 62220
Well-established auto sales and repair building with three drive-in bays, including a tall bay with lift.
Property Size2,520 SF
Price / SF$198.41
Days on Market55
Property Features for 700 South Illinois Street
General Information
Standard status
Active
Size
2,520 SF
Class
A
Property subtype
Retail, Business for Sale
Zoning
Commercial
Occupancy
100%
Investment Type
Owner/User
Additional Details
Business Included
Yes
Service Bays
4
Building Details
Year Built
1968
Buildings
1
Stories
1
Units
1
Listing Agency:
Transworld West Business Advisors
Listed By:
William Roland Jr · License #475.206827
Source:
Crexi
Added: Jun 18
Changed: Aug 8
Last Checked: Aug 10 at 3:43PM
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 Transworld West Business Advisors
Investment Insights
Based on property information with market context.
This for-sale automotive property is built to support an on-site auto sales and repair operation. The building includes three drive-in bays, one of which is a tall bay equipped with a lift, providing practical space for repairs and vehicle service. The property is being offered as a turnkey operating facility, with tools and equipment available for an additional price.
Located at 700 South Illinois Street in Belleville, Illinois, the site is configured for vehicles to enter and service on the premises through the drive-in bays. The layout is suited to a service-and-sales use where customer vehicles can be accommodated directly within the work area.
For buyers seeking an automotive-focused facility, the bay configuration and the presence of a lift help reduce the need for immediate buildout to begin maintenance and repair work. The offering also includes the option to acquire the existing tools and equipment for added continuity if you plan to keep the operation running. Overall, it presents a functional, service-oriented setup for an owner-operator or an investor looking to acquire an automotive service property with existing infrastructure in place.
Located at 700 South Illinois Street in Belleville, Illinois, the site is configured for vehicles to enter and service on the premises through the drive-in bays. The layout is suited to a service-and-sales use where customer vehicles can be accommodated directly within the work area.
For buyers seeking an automotive-focused facility, the bay configuration and the presence of a lift help reduce the need for immediate buildout to begin maintenance and repair work. The offering also includes the option to acquire the existing tools and equipment for added continuity if you plan to keep the operation running. Overall, it presents a functional, service-oriented setup for an owner-operator or an investor looking to acquire an automotive service property with existing infrastructure in place.
Key Highlights
- Year built: 1968
- Auto sales and repair building with three drive‑in bays
- Includes one tall drive‑in bay with lift
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
$25,179
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
5.04%
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%
$503,580
$503.6K
Cap Rate 7%
$359,700
$359.7K
Cap Rate 9%
$279,767
$279.8K
Market Conditions
NOI Build-Up for 2,520 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
$39.3K $15.60/SF
− Vacancy
−$3.3K −$1.33/SF
EGI
$36.0K $14.27/SF
− OpEx
−$10.8K −$4.28/SF
NOI
$25.2K $9.99/SF
Area
St. Clair County, IL
Vacancy
8.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
30.00%
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%
$503,580
Cap Rate 7%
$359,700
Cap Rate 9%
$279,767
Alternative Uses
Best Use
Retail
$359.7K
$314.7K – $419.7K
NOI $25,179 @ 7.0% cap · market cap 5.04%
Second Best
Industrial
$231.5K
$202.5K – $270.1K
NOI $16,203 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$596.6K
$522.0K – $696.0K
NOI $41,760 @ 7.0% cap · market cap 8.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Service bays
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,250
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 62220, IL
19,474
Population
8,784
Households
2.2
Avg Household Size
39
Median Age
28%
College-Educated
93%
High-School Grad
28.9 sq mi
ZIP Area
674
Density / Sq Mi
$65,261
Median Household Income
$37,105
Median Earnings
$976
Median Rent
$141,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Belleville Towing Inc — 15 w cleveland ave, belleville, il 62220
- Auffenberg Ford, Inc. Collision — 901 S Illinois St, Belleville, IL 62220
- Bertco Automotive — 609 S Belt W, Belleville, IL 62220
- DeVan Automotive Services — 1110 S Church St, Belleville, IL 62220
- Auffenberg Body Shop — 901 S Illinois St, Belleville, IL 62220
Frequently Asked Questions
What type of property is this?
Auto shop - Well-established auto sales and repair building with three drive-in bays, including a tall bay with lift.
Where is this auto shop located?
The property is located at 700 South Illinois Street Belleville, IL.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Year built: 1968; Auto sales and repair building with three drive‑in bays; Includes one tall drive‑in bay with lift
