Dixon Drive-Thru Redevelopment
737 N Galena Ave, Dixon, IL 61021
2,635 SF building on 0.83 acres with drive-thru.
Type:Retail
Property size:
2,635 SFLot size:
0.83 AcresPrice / SF:
$265/SF- Added:
- Apr 8, 2026
- Days on Market:
- 50
- Last Refresh:
- Apr 1 at 11:39 am
Property Features for 737 N Galena Ave
General Information
- Standard status
- Active
- Size
- 2,635 SF
- Lot size
- 0.83 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1995
Listing agent Myles Rapchak License #IN #RB14052315 (219) 308-3553
Listing office Latitude Commercial (219) 308-3553
Listing date Apr 8, 2026
Source Latitudeco
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 Latitude Commercial
HighLights
- High‑traffic location: Over 19,500 Vehicles Per Day (VPD) on North Galena Ave (U.S. Hwy 52).
- Excellent lease‑up or redevelopment opportunity.
- Zoned B‑2 General Business District: Allows for a wide range of uses.
- Located in a highly desirable retail location with direct access to residential communities, national/regional tenants, and freeways.
- Features a drive‑thru.
- Building size: 2,635 SF on 0.83 Acres.
Overview
This property, constructed in 1995, offers a 2,635-square-foot building with a drive-thru on a 0.83-acre site. Zoned B-2, General Business District, the location allows for a wide range of commercial uses and presents a lease-up or redevelopment opportunity. Situated in a retail area, the property provides direct access to residential communities, national and regional tenants, and freeways. The site benefits from traffic counts of over 19,500 vehicles per day on North Galena Avenue (U.S. Highway 52).
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$462.0K
NOI $41,577 @ 9.00% cap · cautious / downside scenario
Moderate
$594.0K
NOI $41,577 @ 7.00% cap · market / base-case scenario
Aggressive
$831.5K
NOI $41,577 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Specialty Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $56.9k | $21.60 |
| − Vacancy | −$1.5k | −$0.56 |
| EGI | $55.4k | $21.04 |
| − OpEx | −$13.9k | −$5.26 |
| NOI | $41.6k | $15.78 |
2,635 SF · lease $21.60/SF/yr · vacancy 2.60% · expense 25.00%
Alternative Use Scenarios
Best Use
Specialty Retail
$594.0K
$519.7K – $693.0K
NOI $41,577 @ 7.0% cap · market cap 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$718.2K
$628.5K – $837.9K
NOI $50,276 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Drive through restaurants
Location Insight
- Map
- Local Demand
- City
- Dixon
- County
- Lee
- State
- Illinois
- Longitude
- -89.487674
- Latitude
- 41.853613
Nearby Similar for Sale
FAQs
What type of property is this?
Drive through restaurant - 2,635 SF building on 0.83 acres with drive-thru.
Where is this drive through restaurant located?
The property is located at 737 N Galena Ave Dixon, IL.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: High‑traffic location: Over 19,500 Vehicles Per Day (VPD) on North Galena Ave (U.S. Hwy 52).; Excellent lease‑up or redevelopment opportunity.; Zoned B‑2 General Business District: Allows for a wide range of uses.
