Building Details

Year built 2010

Floors in Building 1

Number of units 4

Building materials Steel Siding

Listing Agency: Meyer-Jochums Agency

Listed By: Craig Meyer · License #471005506 Show Phone

Added: Jul 10 Changed: Sep 30 Last Checked: Oct 5 at 8:06PM

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MLS# 12695309

Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This 4,800-square-foot flex building, constructed in 2010, combines several commercial components within a climate-controlled setting. The property includes an operating gaming parlor with a liquor-licensed LLC, a fitness center equipped with 20+ commercial machines, nine storage units, and commercial garage space with an office. Central air, steel siding, and natural gas availability are also provided.

The property occupies 1.1191 acres at 1421 Industrial Park Road in Minonk, Illinois, along IL Rt 251 near I-39. Ample parking is available, with room for additional parking on the site. The surrounding commercial area includes a gas station, restaurant, automotive-related businesses, and a metal fabrication company. COMMR zoning supports its existing commercial configuration.

Key Highlights

• 4,800‑square‑foot climate‑controlled flex building constructed in 2010
• 1.1191‑acre site along IL Rt 251 near I‑39
• Gaming parlor with liquor‑licensed LLC, fitness center, storage, and garage space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$35,068

Cap Rate

8.79%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$701,360 $701.4K

Cap Rate 7%

$500,971 $501.0K

Cap Rate 9%

$389,644 $389.6K

Market Conditions

NOI Build-Up for 4,800 SF

Gross rent

$43.2K $9.00/SF

− Vacancy

−$1.9K −$0.41/SF

EGI

$41.3K $8.59/SF

− OpEx

−$6.2K −$1.29/SF

NOI

$35.1K $7.31/SF

Area

Woodford County, IL

Vacancy

4.50%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$701,360

Cap Rate 7%

$500,971

Cap Rate 9%

$389,644

Alternative Uses

Best Use

Flex RnD

$615.1K

$538.2K – $717.6K (±1% cap)

NOI $43,056 @ 7.0% cap · market cap 10.79%

Second Best

Self Storage

$529.9K

$463.7K – $618.2K (±1% cap)

NOI $37,094 @ 7.0% cap · market cap 9.30%

Theoretical Best

Multifamily LT 5

$4.20M

$3.67M – $4.90M (±1% cap)

NOI $293,930 @ 7.0% cap · market cap 73.67%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Gold Star Solutions Hardware & Home Improvement Gold Star Home ... Home Inspector Gold Star Gaming ... Gambling House

Suggested Use

Top Pick Parking Lot & Garage Auto Repair Shop Auto Parts Store Garden Center Big Box & Wholesale Store Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Yes

Highway access

Yes

Paved road access

Yes

Liquor license

Location Intelligence

Trade Area within ½ mile

26

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 61760, IL

2,350

Population

1,048

Households

2.2

Avg Household Size

44

Median Age

19%

College-Educated

88%

High-School Grad

69.9 sq mi

ZIP Area

34

Density / Sq Mi

$65,035

Median Household Income

$41,543

Median Earnings

$985

Median Rent

$121,900

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Flex space - Versatile commercial building with gaming, fitness, storage, and garage components under COMMR zoning.

Where is this flex space located?

The property is located at 1421 Industrial Park Road Minonk, IL.

What is the asking price?

The asking price for this property is $399,000.

What are key features of this property?

This property features: 4,800‑square‑foot climate‑controlled flex building constructed in 2010; 1.1191‑acre site along IL Rt 251 near I‑39; Gaming parlor with liquor‑licensed LLC, fitness center, storage, and garage space