Storefront Property with Private
For Sale
$65,000
710 Swanson Drive, Prophetstown, IL 61277
COMMERCIAL - Prophetstown, IL
Property Size644 SF
Lot Size0.33 Acres
Price / SF$100.93
Days on Market102
Property Features for 710 Swanson Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMR
Directions
RT 78 South (Swanson DR)
Subdivision
Prophetstown
Standard status
Active
APN
21052810010000
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1233
Utilities
Utilities
Natural Gas Available
Cooling system
Central Air
Amenities
private bath
Building Details
Year built
1950
Floors in Building
1
Number of units
1
Building materials
Vinyl Siding, Block
Listing Agency:
Bird Realty
(815) 973-6768
Listed By:
Tina DeMay · License #475138089
(815) 600-8636
Added: May 7
Changed: Aug 4
Last Checked: Aug 16 at 2:06PM
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 storefront property includes two rooms and a private bath, providing a compact layout for retail or office use. Central air, vinyl siding and block construction are in place, along with natural gas availability. The property was built in 1950 and carries COMMR zoning.
Positioned on Swanson Drive at the south end of Prophetstown, the building fronts State Highway 78 and sits a couple of blocks from downtown. The 0.33-acre parcel offers ample parking. A new roof was installed in 2025, and a new sewer line connects the property to the city main. Previous uses have included an ice cream shop, pizza operation and retail shop.
Positioned on Swanson Drive at the south end of Prophetstown, the building fronts State Highway 78 and sits a couple of blocks from downtown. The 0.33-acre parcel offers ample parking. A new roof was installed in 2025, and a new sewer line connects the property to the city main. Previous uses have included an ice cream shop, pizza operation and retail shop.
Key Highlights
- 644 SF storefront with two rooms and a private bath
- 0.33‑acre parcel with ample parking
- Frontage on State Highway 78 near downtown Prophetstown
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
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
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Frequently Asked Questions
What type of property is this?
Storefront property - Compact commercial space with two rooms, central air, parking, and access to State Highway 78.
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 storefront with two rooms and a private bath; 0.33‑acre parcel with ample parking; Frontage on State Highway 78 near downtown Prophetstown
