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    860 Division St Coal City, IL 60416

    Sponsored
    For Sale
    $2,110,000

    Net-leased auto parts store, strong ROI.

    Property size:
    7,225 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    402
    This exceptional investment opportunity presents a 7,225-square-foot, single-tenant net-leased O'Reilly Auto Parts store in Coal City, Illinois. Located at 860 E Division St, this property boasts a prime location on a major retail corridor with high visibility, experiencing 12,800 vehicles per day. The building sits on a 0.74-acre lot and benefits from proximity to Interstate 55 (23,100 VPD) and is within an hour of downtown Chicago. The 15-year lease, commencing July 1, 2022, and expiring June 30, 2037, offers a remaining term of 12.6 years. The lease includes rent increases in year 11 and every subsequent five-year option period, providing inflation-resistant cash flow. O'Reilly Auto Parts, a publicly traded company with an S&P investment-grade credit rating of BBB, ensures a strong tenant and lease guarantee. The property's net operating income (NOI) is $122,448, resulting in a 5.80% cap rate and a price per square foot of $292.04. The asking price is $2,110,000. Nearby businesses include McDonald's, Dunkin', Taco Bell, CVS Pharmacy, Ace Hardware, and Dollar General. This property offers a compelling combination of a strong tenant, long-term lease, and attractive financial metrics, making it an ideal addition to any investment portfolio. The property includes a roof warranty and minimal landlord responsibilities. The building was constructed in 2022 and is fully depreciable.

    Property Features for 860 Division St

    General Information

    Property type
    Individual retail properties
    Square Feet
    7,225 SF
    Lot Size
    32,234 SF

    We can help!

    Listing Contact
    Peter Block
    Peter Block

    Learn more

    Property Insight Report

    HighLights

    • Long‑term corporate lease (13+ years) with O'Reilly Auto Parts (NASDAQ: ORLY), a $59B+ market cap company.
    • O'Reilly Auto Parts is a major national automotive parts retailer with 6,131+ stores globally.
    • Attractive 6% rent increases every 5 years starting in year 11; minimal landlord responsibilities; roof warranty included.
    • High visibility on Hwy 113, a major retail corridor, near Coal City High School.
    • Investment‑grade credit (S&P: BBB), strong lease guarantee, and a 2022 depreciable building.
    • Exceptional value for a long‑term, stable net lease investment with minimal landlord responsibilities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Coal City
    County
    Grundy
    State
    Illinois
    Longitude
    -88.2721117
    Latitude
    41.288446

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    FAQs

    What type of property is this?
    Individual retail property - Net-leased auto parts store, strong ROI.
    Where is this individual retail property located?
    The property is located at 860 Division St Coal City, IL.
    What is the asking price?
    The asking price for this property is $2,110,000.
    What are key features of this property?
    This property features: Long-term corporate lease (13+ years) with O'Reilly Auto Parts (NASDAQ: ORLY), a $59B+ market cap company.; O'Reilly Auto Parts is a major national automotive parts retailer with 6,131+ stores globally.; Attractive 6% rent increases every 5 years starting in year 11; minimal landlord responsibilities; roof warranty included.
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    860 Division St Coal City, IL 60416
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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
    860 Division St Coal City, IL 60416
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    We can help!
    Listing Contact
    Peter Block
    Peter Block
    Real Estate License ID: IL 471002226
    Learn more
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