Mixed-Use Retail and Residential
For Sale
Contact for pricing
900 Blackhawk Blvd, South Beloit, IL 61080
Three-parcel mixed-use property includes a retail building, a 2-family apartment building, and an adjacent parking lot.
Property Size780 SF
Price / SF$397.44
Days on Market116
Property Features for 900 Blackhawk Blvd
General Information
Standard status
Active
Size
780 SF
Property subtype
RETAIL
Additional Details
Multifamily Units
2
Listing Agency:
GAMBINO REALTORS-Rkfd
(815) 282-2222
Listed By:
Tom Ewing CCIM, CPM, RPA, MCR
(815) 703-6677
Source:
Moodyscre
Added: May 21
Changed: Aug 8
Last Checked: Sep 13 at 9:34AM
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 GAMBINO REALTORS-Rkfd
Investment Insights
Based on property information with market context.
This multi-parcel mixed-use offering includes a retail building, a two-family apartment building, and an adjacent parking lot. The retail component is a 780 SF structure currently operating as a slot machine parlor. The residential component consists of a 2-family apartment building with a detached garage, providing separate rental units within the same overall property.
The parcels are located along Blackhawk Boulevard in South Beloit and include strong commercial frontage and visibility for the retail use, along with additional parking to support on-site operations.
In total, the combination of retail and residential income components plus the included parking lot creates a flexible setup for both investor and owner-user strategies.
The parcels are located along Blackhawk Boulevard in South Beloit and include strong commercial frontage and visibility for the retail use, along with additional parking to support on-site operations.
In total, the combination of retail and residential income components plus the included parking lot creates a flexible setup for both investor and owner-user strategies.
Key Highlights
- Three‑parcel mixed‑use property in South Beloit with retail, residential income, and an adjacent parking lot.
- 780 SF retail building currently operating as a slot machine parlor with frontage along Blackhawk Boulevard.
- 2‑family apartment building plus a detached garage for added residential utility and storage.
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
$11,487
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
3.71%
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%
$229,740
$229.7K
Cap Rate 7%
$164,100
$164.1K
Cap Rate 9%
$127,633
$127.6K
Market Conditions
NOI Build-Up for 780 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
$16.8K $21.60/SF
− Vacancy
−$438 −$0.56/SF
EGI
$16.4K $21.04/SF
− OpEx
−$4.9K −$6.31/SF
NOI
$11.5K $14.73/SF
Area
Winnebago County, IL
Vacancy
2.60%
Lease Rate
$21.60 /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%
$229,740
Cap Rate 7%
$164,100
Cap Rate 9%
$127,633
Alternative Uses
Best Use
Retail
$164.1K
$143.6K – $191.5K
NOI $11,487 @ 7.0% cap · market cap 3.71%
Second Best
Multifamily LT 5
$110.6K
$96.8K – $129.0K
NOI $7,742 @ 7.0% cap · market cap 2.50%
Theoretical Best
Office A
$212.6K
$186.0K – $248.0K
NOI $14,882 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
Explore this area
Business Placement
Demographics for 61080, IL
11,252
Population
4,773
Households
2.4
Avg Household Size
38
Median Age
23%
College-Educated
93%
High-School Grad
25.1 sq mi
ZIP Area
448
Density / Sq Mi
$78,533
Median Household Income
$44,081
Median Earnings
$877
Median Rent
$172,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily 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?
Duplex - Three-parcel mixed-use property includes a retail building, a 2-family apartment building, and an adjacent parking lot.
Where is this duplex located?
The property is located at 900 Blackhawk Blvd South Beloit, IL.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Three‑parcel mixed‑use property in South Beloit with retail, residential income, and an adjacent parking lot.; 780 SF retail building currently operating as a slot machine parlor with frontage along Blackhawk Boulevard.; 2‑family apartment building plus a detached garage for added residential utility and storage.
