Mixed-Use Retail and
For Sale
Contact for pricing
900 Blackhawk Boulevard, South Beloit, IL 61080
Multi-parcel property combines a retail building, a two-family residence, and adjacent parking for flexible ownership.
Property Size1,864 SF
Price / SF$166.31
Days on Market55
Property Features for 900 Blackhawk Boulevard
General Information
Standard status
Active
Size
1,864 SF
Class
C
Total Parking Spaces
10
Property subtype
Retail, Multifamily, Land
Zoning
CR
Occupancy
100%
Lease Type
Modified
Additional Details
Multifamily Units
2
Building Details
Year Built
1930
Buildings
2
Units
3
Tenancy
Multi
Listing Agency:
Gambino Realtors
Listed By:
Tom Ewing · License #471001821
Source:
Crexi
Added: Jun 16
Changed: Aug 8
Last Checked: Aug 8 at 11:40AM
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
Investment Insights
Based on property information with market context.
This mixed-use, three-parcel offering includes a retail building, a two-family apartment building, and an adjacent parking lot. The retail parcel features a 780 SF building currently operating as a slot machine parlor, with commercial frontage along Blackhawk Boulevard. The residential parcel consists of a two-family apartment building with a detached garage.
The property is located along Blackhawk Boulevard in South Beloit, providing frontage and visibility for the retail component. An additional adjacent parking lot is included, which can support operations for either the retail or residential uses.
For investors or owner-users, the layout provides separate components that can be operated together or managed with flexibility across retail and residential. The combination of an income-producing residential building and an operating retail use, along with the added parking, may be attractive to buyers seeking a mixed-use structure within a single acquisition. Note that 24 hours’ notice is required for showings of the apartment at 904 1/2 Blackhawk. Members-only remarks apply, and showings are by broker contact.
The property is located along Blackhawk Boulevard in South Beloit, providing frontage and visibility for the retail component. An additional adjacent parking lot is included, which can support operations for either the retail or residential uses.
For investors or owner-users, the layout provides separate components that can be operated together or managed with flexibility across retail and residential. The combination of an income-producing residential building and an operating retail use, along with the added parking, may be attractive to buyers seeking a mixed-use structure within a single acquisition. Note that 24 hours’ notice is required for showings of the apartment at 904 1/2 Blackhawk. Members-only remarks apply, and showings are by broker contact.
Key Highlights
- Three‑parcel mixed‑use property in South Beloit along Blackhawk Boulevard
- 780 SF retail building currently operating as a slot machine parlor
- Two‑family apartment building with a detached garage for residential rental income
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
$27,451
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
8.86%
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%
$549,020
$549.0K
Cap Rate 7%
$392,157
$392.2K
Cap Rate 9%
$305,011
$305.0K
Market Conditions
NOI Build-Up for 1,864 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
$40.3K $21.60/SF
− Vacancy
−$1.0K −$0.56/SF
EGI
$39.2K $21.04/SF
− OpEx
−$11.8K −$6.31/SF
NOI
$27.5K $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%
$549,020
Cap Rate 7%
$392,157
Cap Rate 9%
$305,011
Alternative Uses
Best Use
Retail
$392.2K
$343.1K – $457.5K
NOI $27,451 @ 7.0% cap · market cap 8.86%
Second Best
Multifamily LT 5
$264.3K
$231.3K – $308.4K
NOI $18,501 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$508.1K
$444.6K – $592.8K
NOI $35,565 @ 7.0% cap · market cap 11.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-parcel property combines a retail building, a two-family residence, and adjacent parking for flexible ownership.
Where is this mixed-use property located?
The property is located at 900 Blackhawk Boulevard 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 along Blackhawk Boulevard; 780 SF retail building currently operating as a slot machine parlor; Two‑family apartment building with a detached garage for residential rental income
