Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2294 Gateway Center Dr Belvidere, IL 61008
    Property profile & analytics

    2294 Gateway Center Dr Belvidere, IL 61008

    View on Map
    • Retail properties & Spaces
    • 13,400 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 2294 Gateway Center Dr

    Property size
    13,400 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional retail property, located at 2294 Gateway Center Drive in Belvidere, Illinois, offers 13,400 square feet of commercial space in a multi-tenant building. Currently, 1,800 square feet is available for lease, presenting a fantastic opportunity for businesses seeking high visibility and convenient access. The property enjoys a prime location just north of the I-90/Genoa Road exit, ensuring significant traffic flow and exposure to a large customer base. Situated in Boone County, with a 61008 zip code, this location benefits from strong regional demographics and easy access to major transportation arteries. The building's total square footage provides ample space for various retail configurations, catering to a wide range of business needs. The available 1,800 square feet offers flexibility for customization and tenant improvements to suit specific business requirements. This property is ideal for businesses seeking a strategic location with high visibility and convenient access for customers. The property's location near a major highway interchange guarantees substantial foot and vehicle traffic, making it an attractive option for retailers seeking to maximize their market reach. This is a rare opportunity to secure a well-positioned retail space in a thriving area. Contact us today to learn more about leasing this exceptional property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Belvidere
    County
    Boone
    State
    Illinois
    Longitude
    -88.8161
    Latitude
    42.2404

    Comparable in this City

    • Value Estimation by Request
      0.99 Acres

      Logan Sq

      Land • 0.99 Acres
      0 Logan Sq, Belvidere, IL 61008
      View Details
    • Value Estimation by Request
      0.99 Acres

      1905 Logan Ave

      Land • 0.99 Acres
      1905 Logan Ave, Belvidere, IL 61008
      View Details
    • Value Estimation by Request
      43.50 Acres

      1874 Crystal Pkwy

      Land • 43.50 Acres
      1874 Crystal Pkwy, Belvidere, IL 61008
      View Details
    • Value Estimation by Request
      16,250 SF

      2229-2251 Anderson Dr

      Restaurants • 16,250 SF
      2229-2251 Anderson Dr, Belvidere, IL 61008
      View Details
    • Value Estimation by Request
      1.00 Acre

      2413 Gateway Center Dr

      Lifestyle centers • 1.00 Acre
      2413 Gateway Center Dr, Belvidere, IL 61008
      View Details
    • Value Estimation by Request
      27,640 SF

      1100 State St

      Lifestyle centers • 27,640 SF
      1100 State St, Belvidere, IL 61008
      View Details

    Similar Nearby for Sale

    • $1,729,000
      4,179 SF

      Belvidere, IL Applebee's Investment

      High-profile Applebee's location with NNN lease and annual increases.
      2126 Gateway Center Dr, Belvidere, IL 61008
      View Details
    • $850,000

      Redevelopment Opportunity in Belvidere, IL

      84-room hotel redevelopment opportunity with car wash and motel.
      1345 North State St, Belvidere, IL 61008
      View Details
    • $299,000
      2,200 SF

      Belvidere Mixed-Use Investment

      100% Leased, Two-Story Building, High Return
      506 State St, Belvidere, IL 61008
      View Details
    • $50,000
      3,111 SF

      Belvidere Retail Building For Sale

      Vacant retail building in Belvidere, Illinois, formerly a restaurant.
      1150 N State St, Belvidere, IL 61008
      View Details
    • Contact for pricing
      3,389 SF

      3792 Morreim Dr, Belvidere, IL 61008

      Truck stops • 3,389 SF
      3792 Morreim Dr, Belvidere, IL 61008
      View Details
    • Contact for pricing
      13,260 SF

      Retail Space in Belvidere Center

      High-traffic retail space available in Belvidere, Illinois shopping center.
      390 W Chrysler Dr, Belvidere, IL 61008
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail/Restaurant Space For Lease

      Retail or restaurant space available for lease.
      2294 Gateway Center Dr, Belvidere, IL 61008
      View Details
    • Contact for pricing

      High-Visibility Retail Space Available

      Retail space in high-traffic area near major employers.
      1766 S State St, Belvidere, IL 61008
      View Details
    • Contact for pricing

      Retail Space on Belvidere Corridor

      Prime corner retail location on Belvidere's retail corridor.
      112 S State St, Belvidere, IL 61008
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space Near Walmart

      1,800 SF retail space in Belvidere, Illinois.
      2294 Gateway Center Dr, Belvidere, IL 61008
      View Details
    • Contact for pricing
      25,310 SF

      Retail Space in Belvidere Center

      25,310 SF retail space in Belvidere's central business district.
      122-128 S State St, Belvidere, IL 61008
      View Details
    • Contact for pricing
      2,800 SF

      Retail Space with Plumbing

      Retail space with open layout, plumbing, and storage.
      1100-1119 N State St, Belvidere, IL 61008
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2294 Gateway Center Dr
    Belvidere, IL 61008
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2294 Gateway Center Dr, Belvidere, IL, 61008
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!