Updated Auto
For Sale
$400,000
https //evrealestate.com/en/properties/our-listings/Undisclosed-Address-Zion-IL-60099-MRED-12527037, Zion, IL 60099
Automotive property with refreshed finishes, two remodeled restrooms, and on-site parking in a commercial corridor.
Property Size1,444 SF
Days on Market179
Property Features for https //evrealestate.com/en/properties/our-listings/Undisclosed-Address-Zion-IL-60099-MRED-12527037
General Information
Standard status
Active
Size
1,444 SF
Total Parking Spaces
15
Property subtype
Business Opportunity
Zoning
OTHER
Additional Details
Traffic Count
16,400 vehicles/day
Taxes and HOA fees
Annual Taxes
$8,777
Amenities
Fresh painted
New floors
New roof
New windows
Remodeled bathrooms
Central Air
Building Details
Building Size
1,444 SF
Stories
1
Listing Agency:
1st Class Real Estate - All Pro
(847) 852-6367
Listed By:
Matthew Lawrence
(847) 852-6367
Source:
Evrealestate
Added: Mar 4
Changed: Aug 30
Last Checked: Jul 4 at 3:36AM
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 1st Class Real Estate - All Pro
Investment Insights
Based on property information with market context.
This auto shop property at 1701 Lewis Avenue has received several recent improvements, including fresh paint, new flooring, a new roof, and new windows. Two bathrooms have also been fully remodeled. The layout is positioned for automotive-related operations, with parking for about 15 cars and access from Lewis Avenue.
The property is in Zion’s business corridor, where Lewis Avenue is reported to carry an average of 16,400 vehicles daily. Its existing configuration and parking support a range of auto-oriented business concepts, including mechanical service, detailing, or vehicle sales operations. Zoning is listed as OTHER.
The property is in Zion’s business corridor, where Lewis Avenue is reported to carry an average of 16,400 vehicles daily. Its existing configuration and parking support a range of auto-oriented business concepts, including mechanical service, detailing, or vehicle sales operations. Zoning is listed as OTHER.
Key Highlights
- Auto shop property at 1701 Lewis Avenue in Zion, IL
- Fresh paint, new floors, new roof, and new windows
- Two bathrooms totally remodeled
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
$14,768
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
3.69%
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%
$295,360
$295.4K
Cap Rate 7%
$210,971
$211.0K
Cap Rate 9%
$164,089
$164.1K
Market Conditions
NOI Build-Up for 1,444 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
$21.7K $15.00/SF
− Vacancy
−$563 −$0.39/SF
EGI
$21.1K $14.61/SF
− OpEx
−$6.3K −$4.38/SF
NOI
$14.8K $10.23/SF
Area
Lake County, IL
Vacancy
2.60%
Lease Rate
$15.00 /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%
$295,360
Cap Rate 7%
$210,971
Cap Rate 9%
$164,089
Alternative Uses
Best Use
Retail
$211.0K
$184.6K – $246.1K
NOI $14,768 @ 7.0% cap · market cap 3.69%
Second Best
Industrial
$88.8K
$77.7K – $103.6K
NOI $6,216 @ 7.0% cap · market cap 1.55%
Theoretical Best
Office A
$498.5K
$436.2K – $581.6K
NOI $34,898 @ 7.0% cap · market cap 8.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16,400 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
7k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
BP
Shops & Services
6,987 visits/mo
0.3 miles
Demographics for 60099, IL
31,579
Population
12,085
Households
2.6
Avg Household Size
36
Median Age
16%
College-Educated
86%
High-School Grad
22.6 sq mi
ZIP Area
1,397
Density / Sq Mi
$65,647
Median Household Income
$36,541
Median Earnings
$1,131
Median Rent
$190,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- North coast mobile detailing LLC — 2614 Horeb Ave, Zion, IL 60099
- Anthony and Margie auto repairs — 2306 Joppa Ave, Zion, IL 60099
- Dukas Auto Repair — 2225 Lewis Ave, Zion, IL 60099
- Roe Automotive Inc. — 2016 Horizon Ct, Zion, IL 60099
- Zion Mobile On-site Truck & Trailer Repair — 3300 21st St, Zion, IL 60099
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive property with refreshed finishes, two remodeled restrooms, and on-site parking in a commercial corridor.
Where is this auto shop located?
The property is located at https //evrealestate.com/en/properties/our-listings/Undisclosed-Address-Zion-IL-60099-MRED-12527037 Zion, IL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Auto shop property at 1701 Lewis Avenue in Zion, IL; Fresh paint, new floors, new roof, and new windows; Two bathrooms totally remodeled
