Building Details

Year built 1950

Floors in Building 1

Number of units 1

Building materials Vinyl Siding, Block

Listing Agency: Bird Realty e***@yahoo.com Show Phone

Listed By: Tina DeMay · License #475138089 Show Phone

Added: May 7 Changed: Aug 19 Last Checked: Sep 26 at 10:06PM

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MLS# 12637897

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 644-square-foot commercial building offers a two-room layout, private bath, central air, vinyl siding, and block construction. The property includes ample parking, a roof installed in 2025, and a sewer connection extending to the city main. Natural gas is available, and the building dates to 1950.

Positioned on State Highway 78 at the south end of Prophetstown, the property is a couple of blocks from downtown. Its storefront configuration has supported several commercial uses over time, including an ice cream shop, pizza operation, and retail store. COMMR zoning is reported for the site.

Key Highlights

• 644 SF building with two rooms and a private bath
• 0.33‑acre site on State Highway 78
• Roof installed in 2025

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 (±1% cap)

NOI $5,356 @ 7.0% cap · market cap 8.24%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$120.5K

$105.4K – $140.6K (±1% cap)

NOI $8,433 @ 7.0% cap · market cap 12.97%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Law Firm Electrical Service Auto Parts Store Pharmacy Hair Salon Plumbing Service

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

Yes

Highway access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

135

Businesses Nearby

3k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 41% Dining 41% Home Improvements & Furnishings 17%

Conoco Shops & Services

1,432 visits/mo 0.5 miles

SUBWAY Dining

1,181 visits/mo 0.3 miles

Hometown Hardware Home Improvements & Furnishings

605 visits/mo 0.4 miles

Pizza Joe's Dining

243 visits/mo 0.2 miles

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 Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - Compact commercial building with central air, parking, and a private restroom.

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 SF building with two rooms and a private bath; 0.33‑acre site on State Highway 78; Roof installed in 2025