Building Details

Buildings 1

Listing Agency: The Real Estate Group Inc. s***@gmail.com Show Phone

Listed By: Dan Sperry · License #475118029

Source: Crexi

Added: Feb 23 Changed: Aug 7 Last Checked: Aug 10 at 5:48AM

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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 The Real Estate Group Inc.

Investment Insights

Based on property information with market context.

This is an existing restaurant building featuring a functional kitchen and dining area. The site is drive-through capable, presenting an opportunity to install or convert to drive-up window operations, making it suitable for quick-service, fast-casual, or coffee concepts. The property includes generous parking and space for outdoor signage that faces I-55 traffic. It is located adjacent to established highway tenants and services that cater to both interstate travelers and local residents. The location benefits from high traffic counts, with 63,000 vehicles passing by daily. The building size is 2134 square feet.

Key Highlights

• Drive‑through capable site ideal for quick‑service, fast‑casual, or coffee concepts.
• High traffic counts of 63,000 vehicles per day.
• Generous parking.

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

$19,705

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

3.03%

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%

$394,100 $394.1K

Cap Rate 7%

$281,500 $281.5K

Cap Rate 9%

$218,944 $218.9K

Market Conditions

NOI Build-Up for 2,134 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

$27.7K $12.96/SF

− Vacancy

−$1.4K −$0.65/SF

EGI

$26.3K $12.31/SF

− OpEx

−$6.6K −$3.08/SF

NOI

$19.7K $9.23/SF

Area

Sangamon County, IL

Vacancy

5.00%

Lease Rate

$12.96 /SF/Yr

Expense Ratio

25.00%

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%

$394,100

Cap Rate 7%

$281,500

Cap Rate 9%

$218,944

Alternative Uses

Best Use

Specialty Retail

$281.5K

$246.3K – $328.4K (±1% cap)

NOI $19,705 @ 7.0% cap · market cap 3.03%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$471.3K

$412.4K – $549.9K (±1% cap)

NOI $32,991 @ 7.0% cap · market cap 5.08%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Drive through restaurants

Location Intelligence

Trade Area within ½ mile

44

Businesses Nearby

70k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 60% Dining 40%

McDonald's Dining

24,603 visits/mo 0.1 miles

Williamsville Shops & Services

22,165 visits/mo 0.5 miles

Speedway Shops & Services

19,326 visits/mo 0.2 miles

Huddle House Dining

3,619 visits/mo 0.1 miles

Demographics for 62693, IL

1,733

Population

797

Households

2.2

Avg Household Size

43

Median Age

43%

College-Educated

93%

High-School Grad

50.8 sq mi

ZIP Area

34

Density / Sq Mi

$126,488

Median Household Income

$66,285

Median Earnings

$1,055

Median Rent

$193,800

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Restaurant - Restaurant building with drive-through, high traffic, and strong visibility.

Where is this restaurant located?

The property is located at 994 Ann Rutledge Drive Williamsville, IL.

What is the asking price?

The asking price for this property is $650,000.

What are key features of this property?

This property features: Drive‑through capable site ideal for quick‑service, fast‑casual, or coffee concepts.; High traffic counts of 63,000 vehicles per day.; Generous parking.