Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5717 Il-78 Virginia, IL 62691

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    7,200 SF Retail Space - $225K

    Property size:
    7,200 SF

    Property Features for 5717 Il-78

    General Information

    Property type
    Individual retail properties
    Square Feet
    7,200 SF
    Lot Size
    46,609 SF

    Building Details

    Buildings
    1
    Stories
    1

    We can help!

    Listing Contact
    Curtis Tillett
    Curtis Tillett

    Listing Agency: The Real Estate Group Inc. Listing Agent: Curtis Tillett

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional mixed-use property, located at 5717 IL-78 in Virginia, Illinois, presents a remarkable investment opportunity. The 7,200 square foot building sits on a spacious 1.07-acre lot, zoned B2, and boasts a versatile layout ideal for a variety of retail uses. Previously occupied by a Dollar General, the property features a wide-open floor plan perfect for customization, along with a convenient smaller storage area accessible via double doors. Ample parking is provided with 33 spaces available. The strategic location just north of the intersection of Rt. 125 and 78 ensures high visibility and accessibility for customers. The asking price is $225,000, translating to $31.25 per square foot. This single-story building presents a strong foundation for a thriving business, offering a blend of space, location, and potential. The property's APN is 11-098-015-00. This is a rare opportunity to acquire a well-situated retail space in a growing community. The property is ready for immediate occupancy and offers significant upside potential for the right buyer. Don't miss this chance to own a piece of Virginia, Illinois's vibrant commercial landscape.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Virginia
    County
    Cass
    State
    Illinois
    Longitude
    -90.2072856
    Latitude
    39.9550175

    Nearby Similar for Sale

    • $195,000
      1.07 Acres

      Former Retail Building on Acreage

      Former Dollar General on 1.07 acres with parking.
      5717 Illinois Rte 78 Rd, Virginia, IL 62691
      View Details

    FAQs

    What type of property is this?
    Individual retail property - 7,200 SF Retail Space - $225K
    Where is this individual retail property located?
    The property is located at 5717 Il-78 Virginia, IL.
    What is the asking price?
    The asking price for this property is $225,000.
    What are key features of this property?
    This property features: $225,000 asking price.; 7,200 square foot mixed-use building.; $31.25 per square foot.
    (217) 553-7022 Call to check price and availability
    Request Owner's contact information
    5717 Il-78 Virginia, IL 62691
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5717 Il-78
    Virginia, IL 62691
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    5717 Il-78 Virginia, IL 62691
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Curtis Tillett
    Curtis Tillett
    Real Estate License ID: 475089421
    (217) 553-7022 (217) 787-7000 (217) 726-3298
    Learn more
    Google sign-in failed. Please try again or use another login method.