O'Reilly Auto Parts
For Sale
Contact for pricing
860 E Division St, Coal City, IL 60416
Net leased O'Reilly Auto Parts in Coal City, IL.
Property Size7,225 SF
Lot Size0.74 Acres
Price / SF$292.04
Days on Market798
Property Features for 860 E Division St
General Information
Standard status
Active
Size
7,225 SF
Lot size
0.74 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$122,448
Building Details
Tenancy
Single
Listing Agency:
Colliers - Rosemont, Illinois
(949) 724-5561
Listed By:
Peter Block · License #471002226
Source:
Crexi
Added: Jun 14, 2024
Changed: Aug 12
Last Checked: Aug 19 at 9:57PM
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 Colliers - Rosemont, Illinois
Investment Insights
Based on property information with market context.
This is an opportunity to acquire a single tenant net leased O’Reilly Auto Parts property in Coal City, Illinois. The property features a 7,225-square-foot building on a 0.74-acre parcel. The long-term net lease has over 14 years remaining in the primary term, with four 5-year option periods. Rent increases are scheduled in year 11 and every option period. The property is located on E Division Street, which has a traffic volume of 12,800 vehicles per day, and is 2 miles from Interstate 55, which sees 23,100 vehicles per day. The location is within an hour of downtown Chicago. Nearby retailers include McDonald’s, Dunkin’, Taco Bell, CVS Pharmacy, Ace Hardware, and Dollar General. O’Reilly Auto Parts is a publicly traded company with over 6,000 locations and an investment grade credit rating from S&P of BBB.
Key Highlights
- Long‑term net lease with over 14 years remaining.
- Investment‑grade credit rating (BBB from S&P) of O'Reilly Auto Parts (NASDAQ: ORLY).
- Rent increases in year 11 and throughout the option periods.
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
$100,284
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
4.75%
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%
$2,005,680
$2.0M
Cap Rate 7%
$1,432,629
$1.4M
Cap Rate 9%
$1,114,267
$1.1M
Market Conditions
NOI Build-Up for 7,225 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
$156.1K $21.60/SF
− Vacancy
−$12.8K −$1.77/SF
EGI
$143.3K $19.83/SF
− OpEx
−$43.0K −$5.95/SF
NOI
$100.3K $13.88/SF
Area
Grundy County, IL
Vacancy
8.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$2,005,680
Cap Rate 7%
$1,432,629
Cap Rate 9%
$1,114,267
Alternative Uses
Best Use
Retail
$1.43M
$1.25M – $1.67M
NOI $100,284 @ 7.0% cap · market cap 4.75%
Second Best
Industrial
$444.3K
$388.8K – $518.4K
NOI $31,101 @ 7.0% cap · market cap 1.47%
Theoretical Best
Office A
$2.49M
$2.18M – $2.91M
NOI $174,612 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
185
Businesses Nearby
26k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 73%
Home Improvements & Furnishings 23%
Electronics 3%
Dollar General
Shops & Services
10,587 visits/mo
0.4 miles
Ace Hardware
Home Improvements & Furnishings
6,058 visits/mo
0.3 miles
Shell
Shops & Services
3,868 visits/mo
0.1 miles
O'Reilly Auto Parts
Shops & Services
1,916 visits/mo
0.1 miles
Advance Auto Parts
Shops & Services
1,705 visits/mo
0.3 miles
Demographics for 60416, IL
9,512
Population
3,803
Households
2.5
Avg Household Size
38
Median Age
20%
College-Educated
93%
High-School Grad
22.8 sq mi
ZIP Area
417
Density / Sq Mi
$71,865
Median Household Income
$47,609
Median Earnings
$1,074
Median Rent
$222,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- J & A Transmission & Auto Services — 10 W Division St, Coal City, IL 60416
- Absolute Automotive Services — 700 S Broadway St, Coal City, IL 60416
- Bob's Advanced Auto & Tire, Inc. — 60 E Chestnut St, Coal City, IL 60416
- Quality Auto Body — 97 N 1st Ave, Coal City, IL 60416
- Tire Zone — 85 N 1st Ave, Coal City, IL 60416
Frequently Asked Questions
What type of property is this?
Auto shop - Net leased O'Reilly Auto Parts in Coal City, IL.
Where is this auto shop located?
The property is located at 860 E 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 net lease with over 14 years remaining.; Investment‑grade credit rating (BBB from S&P) of O'Reilly Auto Parts (NASDAQ: ORLY).; Rent increases in year 11 and throughout the option periods.
