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    1260 Hwy Forsyth, IL 62535
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    1260 Hwy Forsyth, IL 62535

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    • Retail properties & Spaces
    • 7,052 SF
    • 0.93 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 1260 Hwy

    Year built
    2015
    Lot size
    0.93 lot acres
    Property size
    7,052 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This exceptional 1,825 square foot Class A retail storefront is available for lease in a thriving Forsyth, Illinois plaza. Located at 1260 U.S. Hwy 51, this property boasts prime visibility and accessibility, situated directly across from the 826,347 square foot Hickory Point Mall, home to major retailers like Von Maur, TJ Maxx, Kohl's, Hobby Lobby, and Ross Dress for Less. The plaza itself benefits from high traffic counts of 17,600 AADT on State Route 51 and proximity to Interstate 72 (one mile south), serving the Decatur MSA and surrounding communities. This single-story building, constructed in 2015, offers a flexible layout ideal for various retail uses. The space includes an open showroom/sales floor, an open stockroom/storage area, a small office, and a single ADA-compliant restroom. The 0.93-acre site provides ample parking with 51 spaces. The property is zoned C-1 and features a total building size of 7,052 square feet, divided into four suites. Annual property taxes are $4 per square foot. This is a rare opportunity to secure a well-located retail space in a high-demand area. The property's convenient location offers easy access to major transportation routes, including US 51, and is within close proximity to Bloomington-Normal, Springfield, and Champaign-Urbana. Strong co-tenancy includes Penn Station, SportClips, and T-Mobile. APN: 07-07-23-103-001.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Forsyth
    County
    Macon
    State
    Illinois
    Longitude
    -88.9554
    Latitude
    39.9182

    Comparable in this City

    • Value Estimation by Request
      15,586 SF

      1085 Hwy

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    • Value Estimation by Request
      90,500 SF

      1080 Hickory Point Mall

      Individual retail properties • 90,500 SF
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    • Value Estimation by Request
      808,623 SF

      1146 Hickory Point Mall

      Shopping malls • 808,623 SF
      1146 Hickory Point Mall, Forsyth, IL 62535
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    • Value Estimation by Request
      2.74 Acres

      900 Commerce Pl Dr

      RETAIL STORES (PERSONAL SERVICES) • 2.74 Acres
      900 Commerce Pl Dr, Forsyth, IL 62535-4013
      View Details
    • Value Estimation by Request
      0.11 Acres

      324 Ruehl St

      RETAIL STORES (PERSONAL SERVICES) • 0.11 Acres
      324 Ruehl St, Forsyth, IL 62535-8802
      View Details
    • Value Estimation by Request
      1.02 Acres

      849 Rte 51us

      RETAIL STORES (PERSONAL SERVICES) • 1.02 Acres
      849 Rte 51us, Forsyth, IL 62535-8807
      View Details

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    Forsyth, IL 62535
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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.

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