Commercial Building on Route
For Sale
Contact for pricing
Pending
6173 Bayer Cir, Carterville, IL 62918
Commercial building with garage, parking, and high visibility.
Property Size3,120 SF
Days on Market638
Property Features for 6173 Bayer Cir
General Information
Standard status
Pending
Size
3,120 SF
Property subtype
Office, Retail
Zoning
Commercial
Building Details
Year Built
1951
Buildings
1
Stories
1
Units
1
Listing Agency:
Re/Max Realty Central
(618) 924-3644
Listed By:
Robert Davenport · License #471019751
Source:
Crexi
Added: Nov 20, 2024
Changed: Aug 8
Last Checked: Aug 18 at 10:51PM
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 Re/Max Realty Central
Investment Insights
Based on property information with market context.
This commercial property is located on Route 13, within a TIFF district, offering a 40 x 112 building with an additional 34 x 40 garage and ample parking space. The location provides proximity to both Carterville and Marion. The building offers over 4400 sq ft of space, featuring three overhead doors and two walk-in entrances. Currently, the building is divided into thirds, with one section operating as a biker bar, another as a motorcycle repair shop, and the remaining space is vacant. Situated on a corner lot, the property benefits from high visibility and is located across from S I Bowl. The property size is 3120 sq ft.
Key Highlights
- High visibility corner lot location on Route 13
- Large commercial space with over 4400 sq ft
- Includes a 34x40 garage and ample parking
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
$25,474
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
6.38%
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%
$509,480
$509.5K
Cap Rate 7%
$363,914
$363.9K
Cap Rate 9%
$283,044
$283.0K
Market Conditions
NOI Build-Up for 3,120 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
$40.4K $12.96/SF
− Vacancy
−$4.0K −$1.30/SF
EGI
$36.4K $11.66/SF
− OpEx
−$10.9K −$3.50/SF
NOI
$25.5K $8.16/SF
Area
Williamson County, IL
Vacancy
10.00%
Lease Rate
$12.96 /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%
$509,480
Cap Rate 7%
$363,914
Cap Rate 9%
$283,044
Alternative Uses
Best Use
Specialty Retail
$607.2K
$531.3K – $708.4K
NOI $42,503 @ 7.0% cap · market cap 10.65%
Second Best
Retail
$363.9K
$318.4K – $424.6K
NOI $25,474 @ 7.0% cap · market cap 6.38%
Theoretical Best
Office A
$657.7K
$575.5K – $767.4K
NOI $46,042 @ 7.0% cap · market cap 11.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
65
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 62918, IL
10,538
Population
5,001
Households
2.1
Avg Household Size
38
Median Age
43%
College-Educated
97%
High-School Grad
37.5 sq mi
ZIP Area
281
Density / Sq Mi
$70,975
Median Household Income
$45,173
Median Earnings
$909
Median Rent
$183,200
Median Home Value
Market
Vacancy Rate% for Retail 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?
Auto shop - Commercial building with garage, parking, and high visibility.
Where is this auto shop located?
The property is located at 6173 Bayer Cir Carterville, IL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: High visibility corner lot location on Route 13; Large commercial space with over 4400 sq ft; Includes a 34x40 garage and ample parking
