Two-Unit Automotive
9001-03 US Highway 12 Richmond, IL 60071
For Sale
$435,000
4,000 SF masonry automotive property with 2,800 SF available and adjacent 1,200 SF leased for long-term income.
Property Size4,000 SF
Lot Size0.90 Acres
Price / SF$108.75
Days on Market12
Property Features for 9001-03 US Highway 12
General Information
- Standard status
- Active
- Size
- 4,000 SF
- Lot size
- 0.90 Acres
- Property subtype
- Retail - Street Retail
Building Details
- Year Built
- 1959
Listing Agency:
Premier Commercial Realty
(847) 854-2300
Listed By:
Bruce Kaplan · License #475075614
Source:
Commercialcafe
Added: Jul 13
Changed: Jul 23
Last Checked: Jul 24 at 4:39AM
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 Premier Commercial Realty
Investment Insights
Based on property information with market context.
This 4,000 SF two-unit masonry automotive building includes a 2,800 SF section currently set up for auto body work and an adjacent 1,200 SF section generating long-term rental income under an existing lease. The original structure was built in 1959 with later additions, and the property has a newer membrane roof. The building features six overhead doors and a parking lot that was updated in 2023.
The property is located west of Route 12 and east of the Prairie Trail on US Highway 12 in Richmond, IL. The 2,800 SF unit is currently occupied by Pete’s Paint Works, and the other tenant, Medina Cars, sells used cars with a lease through 2026 and an option to renew through 2029.
For buyers seeking an owner-occupier setup, the configuration supports occupying the available 2,800 SF while renting the adjacent 1,200 SF. Please ask the broker for the rent roll and operating statement.
The property is located west of Route 12 and east of the Prairie Trail on US Highway 12 in Richmond, IL. The 2,800 SF unit is currently occupied by Pete’s Paint Works, and the other tenant, Medina Cars, sells used cars with a lease through 2026 and an option to renew through 2029.
For buyers seeking an owner-occupier setup, the configuration supports occupying the available 2,800 SF while renting the adjacent 1,200 SF. Please ask the broker for the rent roll and operating statement.
Key Highlights
- 4,000 SF 2‑unit masonry automotive building on 0.9 acre on US Hwy 12
- 2,800 SF currently available for an owner‑user while long‑term tenant occupies the adjacent 1,200 SF
- Medina Cars sells used cars; lease runs through 2026 with option to renew through 2029
Financial Insights For Retail
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $60.0k | $15.00 |
| − Vacancy | −$4.9k | −$1.22 |
| EGI | $55.1k | $13.79 |
| − OpEx | −$16.5k | −$4.14 |
| NOI | $38.6k | $9.65 |
4,000 SF · lease $15.00/SF/yr · vacancy 8.10% · expense 30.00%
Alternative Uses
Best Use
Retail
$551.4K
$482.5K – $643.3K
NOI $38,598 @ 7.0% cap · market cap 8.87%
Second Best
Industrial
$246.0K
$215.2K – $287.0K
NOI $17,219 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,671 @ 7.0% cap · market cap 22.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Auto shops
Similar Off Market Nearby
- Pete's Paint Works — Richmond, IL 60071
- Eddies truck and trailer repair inc — 9703 US-12, Richmond, IL 60071
FAQs
What type of property is this?
Auto shop - 4,000 SF masonry automotive property with 2,800 SF available and adjacent 1,200 SF leased for long-term income.
Where is this auto shop located?
The property is located at 9001-03 US Highway 12 Richmond, IL.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: 4,000 SF 2‑unit masonry automotive building on 0.9 acre on US Hwy 12; 2,800 SF currently available for an owner‑user while long‑term tenant occupies the adjacent 1,200 SF; Medina Cars sells used cars; lease runs through 2026 with option to renew through 2029
