Forsyth, IL Mixed-Use
For Sale
Contact for pricing
Pending
849 U.S Hwy 51, Forsyth, IL 62535
Stabilized commercial investment property in Forsyth, Illinois with long-term tenants.
Property Size6,762 SF
Lot Size1.10 Acres
Days on Market673
Property Features for 849 U.S Hwy 51
General Information
Standard status
Pending
Size
6,762 SF
Class
B
Total Parking Spaces
75
Lot size
1.10 Acres
Property subtype
Mixed Use
Zoning
MUN
Occupancy
100%
Lease Type
Gross
Investment Type
Stabilized
Net Operating Income
$76,803
Building Details
Year Built
1988
Year Renovated
2024
Buildings
1
Stories
1
Units
4
Tenancy
Multi
Listing Agency:
Brinkoetter Realtors
(217) 454-9381
Listed By:
Austin Deaton · License #475198953
Source:
Crexi
Added: Oct 17, 2024
Changed: Aug 8
Last Checked: Jul 24 at 2:12PM
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 Brinkoetter Realtors
Investment Insights
Based on property information with market context.
This mixed-use property is located in Forsyth, Illinois, and offers an investment opportunity. The building features brick and stucco construction and a metal roof. The property includes an asphalt parking lot and has road frontage with a traffic count of 18,300 average vehicles per day. It is situated in close proximity to amenities and Interstate I-72. The property is positioned as a stabilized commercial investment, hosting four established and long-term tenants. The property size is 6,762 square feet and it sits on a 1.1-acre lot. The owner is responsible for taxes, insurance, and exterior maintenance. Seller financing is available with agreeable terms.
Key Highlights
- Stabilized commercial investment with four established, long‑term tenants providing great income.
- High traffic location with 18,300 average vehicles per day (VPD) and great road frontage.
- Ample parking on a 1.1‑acre lot with an asphalt parking lot.
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
$45,644
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
5.08%
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%
$912,880
$912.9K
Cap Rate 7%
$652,057
$652.1K
Cap Rate 9%
$507,156
$507.2K
Market Conditions
NOI Build-Up for 6,762 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
$81.1K $12.00/SF
− Vacancy
−$8.1K −$1.20/SF
EGI
$73.0K $10.80/SF
− OpEx
−$27.4K −$4.05/SF
NOI
$45.6K $6.75/SF
Area
Macon County, IL
Vacancy
10.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
37.50%
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%
$912,880
Cap Rate 7%
$652,057
Cap Rate 9%
$507,156
Alternative Uses
Best Use
Mixed Use
$652.1K
$570.6K – $760.7K
NOI $45,644 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.14M
$993.8K – $1.33M
NOI $79,505 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
192
Businesses Nearby
Explore this area
Business Placement
Demographics for 62535, IL
3,745
Population
1,346
Households
2.8
Avg Household Size
44
Median Age
59%
College-Educated
97%
High-School Grad
3.6 sq mi
ZIP Area
1,040
Density / Sq Mi
$113,456
Median Household Income
$69,632
Median Earnings
$1,207
Median Rent
$289,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Stabilized commercial investment property in Forsyth, Illinois with long-term tenants.
Where is this mixed-use property located?
The property is located at 849 U.S Hwy 51 Forsyth, IL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Stabilized commercial investment with four established, long‑term tenants providing great income.; High traffic location with 18,300 average vehicles per day (VPD) and great road frontage.; Ample parking on a 1.1‑acre lot with an asphalt parking lot.
