Storefront Property with Private
For Sale
$65,000
710 Swanson Drive, Prophetstown, IL 61277
Compact commercial space with two rooms, a private bath, and on-site parking.
Property Size644 SF
Price / SF$100.93
Days on Market102
Property Features for 710 Swanson Drive
General Information
Standard status
Active
Size
644 SF
Property subtype
Commercial
Zoning
COMMR
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$1,233
Amenities
private bath
ample parking
Building Details
Building Size
644 SF
Year Built
1950
Buildings
1
Stories
1
Units
1
Listing Agency:
Bird Realty
(815) 288-0998
Listed By:
Tina DeMay · License #475138089
(815) 288-0998
Source:
Perillorealestategroup
Added: May 7
Changed: Aug 13
Last Checked: Aug 15 at 1:57PM
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 Bird Realty
Investment Insights
Based on property information with market context.
This 644-square-foot storefront property at 710 Swanson Drive includes two rooms and a private bath, with ample parking serving the building. The property was built in 1950 and carries COMMR zoning. A roof replacement was completed in 2025, and a new sewer line connects to the city main.
Positioned on State Highway 78 at the south end of Prophetstown, the building sits a couple of blocks from downtown. The space has previously operated as an ice cream shop, pizza location, and retail shop, offering a documented history of varied commercial use.
Positioned on State Highway 78 at the south end of Prophetstown, the building sits a couple of blocks from downtown. The space has previously operated as an ice cream shop, pizza location, and retail shop, offering a documented history of varied commercial use.
Key Highlights
- 644 square feet with two rooms and a private bath
- New roof completed in 2025
- New sewer line to the city main
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
$5,356
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
8.24%
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%
$107,120
$107.1K
Cap Rate 7%
$76,514
$76.5K
Cap Rate 9%
$59,511
$59.5K
Market Conditions
NOI Build-Up for 644 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
$8.5K $13.20/SF
− Vacancy
−$850 −$1.32/SF
EGI
$7.7K $11.88/SF
− OpEx
−$2.3K −$3.56/SF
NOI
$5.4K $8.32/SF
Area
Whiteside County, IL
Vacancy
10.00%
Lease Rate
$13.20 /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%
$107,120
Cap Rate 7%
$76,514
Cap Rate 9%
$59,511
Alternative Uses
Best Use
Retail
$76.5K
$67.0K – $89.3K
NOI $5,356 @ 7.0% cap · market cap 8.24%
Second Best
Office B
$61.4K
$53.7K – $71.6K
NOI $4,295 @ 7.0% cap · market cap 6.61%
Theoretical Best
Specialty Retail
$120.5K
$105.4K – $140.6K
NOI $8,433 @ 7.0% cap · market cap 12.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
135
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 61277, IL
3,233
Population
1,325
Households
2.4
Avg Household Size
45
Median Age
16%
College-Educated
90%
High-School Grad
133.7 sq mi
ZIP Area
24
Density / Sq Mi
$72,837
Median Household Income
$40,000
Median Earnings
$735
Median Rent
$134,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Compact commercial space with two rooms, a private bath, and on-site parking.
Where is this storefront property located?
The property is located at 710 Swanson Drive Prophetstown, IL.
What is the asking price?
The asking price for this property is $65,000.
What are key features of this property?
This property features: 644 square feet with two rooms and a private bath; New roof completed in 2025; New sewer line to the city main
