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    1200 Woodlawn Rd Lincoln, IL 62656

    Sponsored
    For Lease
    $10 SF/Yr

    Lincoln, IL Office Suites - 1,200 to 54,343 SF

    Lot size:
    101,900 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    404
    Heritage Plaza, located at 1200 Woodlawn Rd in Lincoln, Illinois, offers exceptional office and retail space for lease. This single-story, Class B building boasts a total of 101,900 square feet, situated on a generous 12.75-acre lot. Currently, 66,743 square feet of space is available, divisible into units ranging from a minimum of 1,200 square feet to a maximum contiguous space of 54,343 square feet. Several suite options are available, including Suites B1 & B2 (2,760 - 8,000 contiguous SF), Suite B4 (1,600 SF), and Suites B8 & B9 (1,200 - 2,800 contiguous SF). The largest available space is Suite C1, offering a substantial 54,343 square feet with two dock doors. The property is zoned C-2 and enjoys a prime location with excellent visibility, benefitting from an average daily traffic count of 10,300 vehicles. Join established tenants such as Dollar General, Goodwill, and Memorial Home Services in this thriving commercial center. The property's APN is 12-026-008-10, located in Logan County, Illinois, zip code 62656.

    Property Features for 1200 Woodlawn Rd

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    101,900 SF
    Class
    B
    Total Rate
    84916.67

    Building Details

    Stories
    1

    Unit(s) available at that property

    Space
    Suite B8
    Size
    1,600 SF
    Rate per SF
    $10
    Space
    Suite B9
    Size
    1,200 SF
    Rate per SF
    $10
    Space
    Suite C1
    Size
    54,343 SF
    Rate per SF
    $10
    Space
    Suite B1
    Size
    5,240 SF
    Rate per SF
    $10
    Space
    B7
    Size
    2,442 SF
    Rate per SF
    $10
    Space
    Suite B2
    Size
    2,760 SF
    Rate per SF
    $10
    Space
    Suite B4
    Size
    1,600 SF
    Rate per SF
    $10

    We can help!

    Listing Contact
    Collin Fischer, CCIM
    Collin Fischer, CCIM

    Learn more

    Property Insight Report

    HighLights

    • 101,900 SF Retail Center
    • 1,200 - 54,343 SF of retail space available for lease
    • Two dock‑high doors available in a large vacant suite
    • Anchored by Dollar General and Goodwill
    • Excellent access from Route 66 and Woodlawn Road.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lincoln Taekwondo Martial Arts School Elsa's Slots Gambling House

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln
    County
    Logan
    State
    Illinois
    Longitude
    -89.3895076
    Latitude
    40.1594798

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    FAQs

    What type of property is this?
    Retail property - Lincoln, IL Office Suites - 1,200 to 54,343 SF
    Where is this retail property located?
    The property is located at 1200 Woodlawn Rd Lincoln, IL.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: 101,900 SF Retail Center; 1,200 - 54,343 SF of retail space available for lease; Two dock-high doors available in a large vacant suite
    Request Owner's contact information
    1200 Woodlawn Rd Lincoln, IL 62656
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    Lincoln, IL 62656
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1200 Woodlawn Rd Lincoln, IL 62656
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    We can help!
    Listing Contact
    Collin Fischer, CCIM
    Collin Fischer, CCIM
    Real Estate License ID: IL 475000154
    Learn more
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