Mixed-Use Building on Route
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1808 CLARK Street, Carterville, IL 62918
Mixed-use building with warehouse, retail, and office spaces.
Property Size3,364 SF
Price / SF$133.17
Days on Market769
Property Features for 1808 CLARK Street
General Information
Standard status
Active
Size
3,364 SF
Property subtype
Office, Retail
Zoning
Comme
Building Details
Year Built
2002
Buildings
1
Listing Agency:
C21 House of Realty, INC.
(618) 751-9095
Listed By:
Dave Thompson · License #IL 471005854
Source:
Crexi
Added: Jul 13, 2024
Changed: Aug 18
Last Checked: Aug 19 at 10:08PM
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 C21 House of Realty, INC.
Investment Insights
Based on property information with market context.
This mixed-use property is a steel building located on Route 13. It features a 900 square foot warehouse or garage space with a 12-foot overhead door, 720 square feet of retail space, and 1,744 square feet of office space that includes five offices and a kitchen. The property benefits from excellent visibility and a high traffic count.
Key Highlights
- Excellent visibility and high traffic count
- Quality steel building on Route 13
- 1,744 sq ft of office space featuring 5 offices and a kitchen
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
$37,239
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
8.31%
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%
$744,780
$744.8K
Cap Rate 7%
$531,986
$532.0K
Cap Rate 9%
$413,767
$413.8K
Market Conditions
NOI Build-Up for 3,364 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
$60.6K $18.00/SF
− Vacancy
−$10.9K −$3.24/SF
EGI
$49.7K $14.76/SF
− OpEx
−$12.4K −$3.69/SF
NOI
$37.2K $11.07/SF
Area
Williamson County, IL
Vacancy
18.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$744,780
Cap Rate 7%
$531,986
Cap Rate 9%
$413,767
Alternative Uses
Best Use
Office B
$532.0K
$465.5K – $620.7K
NOI $37,239 @ 7.0% cap · market cap 8.31%
Second Best
Retail
$392.4K
$343.3K – $457.8K
NOI $27,466 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$709.2K
$620.5K – $827.4K
NOI $49,643 @ 7.0% cap · market cap 11.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with warehouse, retail, and office spaces.
Where is this mixed-use property located?
The property is located at 1808 CLARK Street Carterville, IL.
What is the asking price?
The asking price for this property is $448,000.
What are key features of this property?
This property features: Excellent visibility and high traffic count; Quality steel building on Route 13; 1,744 sq ft of office space featuring 5 offices and a kitchen
