Main Highway Commercial Location
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2310 Reed Station Parkway, Carbondale, IL 62901
Prime location near new casino, ideal for various ventures.
Property Size7,286 SF
Price / SF$136.56
Days on Market640
Property Features for 2310 Reed Station Parkway
General Information
Standard status
Active
Size
7,286 SF
Property subtype
Industrial, Office, Retail
Zoning
BPL
Building Details
Year Built
2005
Listing Agency:
Five Star Realty
(618) 534-3337
Listed By:
KIMBERLY HALL · License #481011717
Source:
Crexi
Added: Nov 18, 2024
Changed: Aug 16
Last Checked: Aug 14 at 7:21AM
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 Five Star Realty
Investment Insights
Based on property information with market context.
This 7,286-square-foot commercial property is situated on the Main Highway and Reed Station Rd, approximately 3 miles from the new casino. The location offers great visibility, adjacent to the Holiday Inn. The property features a 96-space parking lot. It is centrally located between Jackson and Williamson County, providing excellent access and visibility. The property's layout is suitable for various venture opportunities. It includes a pizza-making facility, a kitchen suitable for all types of venues, a bar, and dining seating. A gaming room is also in place. The property could be transformed into a fresh market shop or office space. New HVAC systems are going to be installed. The building is located on Reed Station Parkway East of Carbondale, in a prime business area with high traffic and many successful businesses.
Key Highlights
- Prime location on Main Highway & Reed Station Rd, near the new casino.
- Existing infrastructure for a restaurant, including a pizza‑making facility, kitchen, bar, and dining seating.
- 96‑space parking lot already in place.
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
$41,179
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
4.14%
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%
$823,580
$823.6K
Cap Rate 7%
$588,271
$588.3K
Cap Rate 9%
$457,544
$457.5K
Market Conditions
NOI Build-Up for 7,286 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
$71.7K $9.84/SF
− Vacancy
−$5.8K −$0.80/SF
EGI
$65.9K $9.04/SF
− OpEx
−$24.7K −$3.39/SF
NOI
$41.2K $5.65/SF
Area
Jackson County, IL
Vacancy
8.10%
Lease Rate
$9.84 /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%
$823,580
Cap Rate 7%
$588,271
Cap Rate 9%
$457,544
Alternative Uses
Best Use
Mixed Use
$588.3K
$514.7K – $686.3K
NOI $41,179 @ 7.0% cap · market cap 4.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,017 @ 7.0% cap · market cap 13.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Explore this area
Business Placement
Demographics for 62901, IL
22,967
Population
12,498
Households
1.8
Avg Household Size
29
Median Age
48%
College-Educated
95%
High-School Grad
27.1 sq mi
ZIP Area
847
Density / Sq Mi
$32,960
Median Household Income
$23,962
Median Earnings
$732
Median Rent
$137,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Prime location near new casino, ideal for various ventures.
Where is this mixed-use property located?
The property is located at 2310 Reed Station Parkway Carbondale, IL.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Prime location on Main Highway & Reed Station Rd, near the new casino.; Existing infrastructure for a restaurant, including a pizza‑making facility, kitchen, bar, and dining seating.; 96‑space parking lot already in place.
