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    1217 US-45 Eldorado, IL 62930

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    For Sale
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    Dollar General leased property for sale below replacement cost.

    Type:Retail
    Property size:
    12,000 SF
    Added:
    Sep 6, 2024
    Days on Market:
    579
    Last Refresh:
    Mar 17 at 1:13 pm

    Property Features for 1217 US-45

    General Information

    Standard status
    Active
    Size
    12,000 SF
    Property subtype
    Retail

    We can help!

    Listing Contact
    Bill Behr

    Listing agent Bill Behr License #TX 351049

    Listing office Transwestern Houston

    Listing date Sep 6, 2024

    Source Crexi

    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 Transwestern Houston

    Overview

    Dollar General Investment Opportunity

    This commercial/retail building in Eldorado, Illinois, is predominantly leased to Dollar General. The Dollar General lease is structured on a “modified gross” basis, and Dollar General has occupied the property continuously for more than 30 years. Commencing in May 1994, Dollar General initially leased 6,000 square feet, or approximately half of the total building area. Indicating a strong commitment to the site, Dollar General expanded into additional space, which now totals approximately 10,500 square feet out of the approximately 12,000 square feet of estimated total building area. In addition, Dollar General has continued to renew its lease most recently with a five (5)-year lease extension as of May 1, 2023 through April 30, 2028.
    Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

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

    Similar Places Nearby

    • Dollar General — 545 US-45, Eldorado, IL 62930
    • Big John's — 1105 US-45, Eldorado, IL 62930

    Location Insight

    • Map
    • Local Demand
    City
    Eldorado
    County
    Saline
    State
    Illinois
    Longitude
    -88.440555
    Latitude
    37.80702

    Nearby Similar for Sale

    • $200,000

      Multi-Use Property on Route 45

      Four-unit property with restaurant, office/apartment space, and apartments.
      1216 US Hwy 45 Route, Eldorado, IL 62930
      View Details
    • $99,000

      Eldorado Commercial Property with Possibilities

      Versatile commercial property in Eldorado, IL, with multiple structures.
      8890 US Hwy 45 N, Eldorado, IL 62930
      View Details

    FAQs

    What type of property is this?
    Grocery and convenience store - Dollar General leased property for sale below replacement cost.
    Where is this grocery and convenience store located?
    The property is located at 1217 US-45 Eldorado, IL.
    What is the asking price?
    The asking price for this property is $199,790.
    What are key features of this property?
    This property features: High Cap Rate: Offered at an **11.5% capitalization rate**, indicating a strong potential return on investment.; Priced **below replacement cost**.; Long‑term tenant: Dollar General has been a tenant for over 30 years.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Bill Behr
    Real Estate License ID: TX 351049
    Learn More
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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
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