Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    1601 Belvidere Rd Belvidere, IL 61008

    Sponsored
    For Sale
    $595,000

    Prime Belvidere commercial land, high visibility.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    401
    This exceptional 2.08-acre commercial property is situated on Belvidere Road, a prime retail corridor in Boone County, Illinois. Zoned R4 with a Commercial Land Use Overlay, this parcel offers significant development potential. The asking price is $595,000, translating to $286,058 per acre. The property's strategic location provides unparalleled visibility and accessibility. Its proximity to a Walmart Supercenter ensures high traffic volume and strong consumer presence. Furthermore, the property benefits from convenient access to Interstate 90, enhancing its appeal to businesses requiring easy transportation links. Adding to its desirability, the land is immediately adjacent to a residential neighborhood, providing a built-in customer base. The property also sits next to Physicians Immediate Care, further bolstering its commercial viability. The property's APN is 0536477028, and the zip code is 61008. This is a rare opportunity to acquire a highly desirable commercial lot in a thriving area of Belvidere, Illinois. Don't miss this chance to capitalize on this exceptional location and build your business success.

    Property Features for 1601 Belvidere Rd

    General Information

    Property type
    Land
    Lot Size
    90,605 SF

    HighLights

    • 2.08‑acre commercial lot on Belvidere Road in Boone County, IL.
    • Minutes from I‑90.
    • Adjacent to a residential neighborhood.
    • Located near a Walmart Supercenter and Physicians Immediate Care.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Building Supply Dental Office Pharmacy Auto Parts Store Skin Care Clinic Kitchen & Bath Plumbing Service Bookstore

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Belvidere
    County
    Boone
    State
    Illinois
    Longitude
    -88.82219459
    Latitude
    42.24241412

    Nearby Comparable

    • $595,000

      Commercial Land Near Retail Corridor

      2.08 acres of commercial land in prime retail location.
      1601 Belvidere Rd, Belvidere, IL 61008
      View Details
    • $2,780,000
      15,100 SF

      Fully Occupied Retail Building

      15,000 SF retail building, part of shopping center.
      342-372 W Chrysler Dr, Belvidere, IL 61008
      View Details
    • Contact for pricing

      Retail Property in Belvidere, IL

      Retail property available for sale in Belvidere, Illinois.
      311 Logan Ave, Belvidere, IL 61008
      View Details
    • $460,000
      5.25 Acres

      Prime Belvidere Development Land

      5.25 Acres, I-90 Exposure, Flexible Zoning
      0 42°14'07.8"N, Belvidere, IL 61008
      View Details
    • $475,000
      1,000 SF

      Mixed-Use Property in Downtown Belvidere

      Mixed-use property with bar, kitchen, and residential lofts.
      522 S State St, Belvidere, IL 61008
      View Details
    • $299,000
      2,200 SF

      Belvidere Mixed-Use Investment

      100% Leased, Two-Story Building, High Return
      506 State St, Belvidere, IL 61008
      View Details
    • $795,000
      19,745 SF

      Belvidere Office Building For Sale

      Office building in Belvidere, Illinois, with scheduled income.
      130 State St S, Belvidere, IL 61008
      View Details
    • $94,686

      Belvidere Industrial Park Land Available

      Industrial land available in master-planned business park near Chrysler plant.
      Crosslink Industrial Park, Belvidere, IL
      View Details
    • Contact for pricing

      LandMark Logistics Park Industrial Lot

      Shovel-ready industrial lot in Belvidere, Illinois, for sale.
      3 Landmark Logistics Park, Belvidere, IL
      View Details
    • $4,547,053

      Land Near I-90, Belvidere, IL

      Land available near I-90 and Irene Road in Belvidere, IL.
      I-90 & Irene Rd, Belvidere, IL
      View Details

    Nearby Similar for Sale

    • $475,000
      1,000 SF

      Mixed-Use Property in Downtown Belvidere

      Mixed-use property with bar, kitchen, and residential lofts.
      522 S State St, Belvidere, IL 61008
      View Details
    • $1,250,000
      7,767 SF

      Veterinary Clinic Investment Opportunity

      Profitable veterinary clinic with a strong reputation and growth potential.
      3335 Grant Hwy, Belvidere, IL 61008
      View Details
    • $291,900

      New Construction Luxury Townhome

      Modern townhome with open layout, gourmet kitchen, and flexible spaces.
      880 Fuller Ln, Belvidere, IL 61008
      View Details
    • $279,900

      New Townhome with Modern Amenities

      Newly constructed townhome featuring modern design, open layout, and convenient location.
      586 Fuller Ln, Belvidere, IL 61008
      View Details
    • $276,900
      1,435 SF

      New Townhome with Modern Amenities

      Newly constructed townhome featuring modern design, open layout, and convenient location.
      542 Fuller Ln, Belvidere, IL 61008
      View Details
    • $276,900
      1,435 SF

      New Construction Townhome with Upgrades

      New construction townhome featuring modern design, open layout, and premium finishes.
      552 Fuller Ln, Belvidere, IL 61008
      View Details
    • Contact for pricing
      90,000 SF

      Cross-Docked Industrial Building

      90,000 SF industrial building with cross-docking and highway access.
      795 Landmark Dr, Belvidere, IL 61008
      View Details
    • $2,780,000
      15,100 SF

      Fully Occupied Retail Building

      15,000 SF retail building, part of shopping center.
      342-372 W Chrysler Dr, Belvidere, IL 61008
      View Details
    • $795,000
      19,745 SF

      Belvidere Office Building For Sale

      Office building in Belvidere, Illinois, with scheduled income.
      130 State St S, Belvidere, IL 61008
      View Details
    • Contact for pricing

      Retail Property in Belvidere, IL

      Retail property available for sale in Belvidere, Illinois.
      311 Logan Ave, Belvidere, IL 61008
      View Details
    • $299,000
      2,200 SF

      Belvidere Mixed-Use Investment

      100% Leased, Two-Story Building, High Return
      506 State St, Belvidere, IL 61008
      View Details

    FAQs

    What type of property is this?
    Land - Prime Belvidere commercial land, high visibility.
    Where is this land located?
    The property is located at 1601 Belvidere Rd Belvidere, IL.
    What is the asking price?
    The asking price for this property is $595,000.
    What are key features of this property?
    This property features: 2.08-acre commercial lot on Belvidere Road in Boone County, IL.; Minutes from I-90.; Adjacent to a residential neighborhood.
    (815) 218-1371
    Request Owner's contact information
    1601 Belvidere Rd Belvidere, IL 61008
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1601 Belvidere Rd
    Belvidere, IL 61008
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1601 Belvidere Rd Belvidere, IL 61008
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.