Warehouse Space with Overhead
For Sale
Contact for pricing
10009-11 W Franklin Avenue N 10009, Franklin Park, IL 60131
Open warehouse configuration with two-and-a-half baths, approximately 12-foot clearance, and COMMR zoning.
Property Size5,500 SF
Price / SF$76.18
Days on Market32
Property Features for 10009-11 W Franklin Avenue N 10009
General Information
Standard status
Active
Size
5,500 SF
Property subtype
Industrial
Zoning
COMMR
Warehouse & Industrial
Clear Height
12 ft
Drive-In Doors
1
Building Details
Year Built
1955
Buildings
1
Units
1
Building Size
5,500 SF
Listing Agency:
RCI Real Estate Group
(847) 455-0101
Listed By:
Ben Cocogliato · License #IL
Source:
Crexi
Added: Jul 11
Changed: Aug 10
Last Checked: Aug 10 at 7:13AM
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 RCI Real Estate Group
Investment Insights
Based on property information with market context.
The east portion of this warehouse property measures 2,650 square feet within an approximately 5,500-square-foot structure. The interior is primarily open, with 2-1/2 baths, an electric water heater, and approximately 12 feet of ceiling clearance. A 10-foot overhead delivery door at the rear supports loading access.
Located at 10009-11 W Franklin Avenue N 10009 in Franklin Park, Illinois, the property was built in 1955 and carries COMMR zoning. The described configuration provides a straightforward warehouse layout with rear delivery access and functional service areas.
Located at 10009-11 W Franklin Avenue N 10009 in Franklin Park, Illinois, the property was built in 1955 and carries COMMR zoning. The described configuration provides a straightforward warehouse layout with rear delivery access and functional service areas.
Key Highlights
- 2,650 sq. ft. east portion within an approximately 5,500 sq. ft. structure
- 10 ft. overhead delivery door at the rear
- Approximately 12 ft. ceiling clearance
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
$28,749
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
6.86%
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%
$574,980
$575.0K
Cap Rate 7%
$410,700
$410.7K
Cap Rate 9%
$319,433
$319.4K
Market Conditions
NOI Build-Up for 5,500 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
$35.6K $6.48/SF
− Vacancy
−$1.8K −$0.33/SF
EGI
$33.8K $6.15/SF
− OpEx
−$5.1K −$0.92/SF
NOI
$28.7K $5.23/SF
Area
Cook County, IL
Vacancy
5.10%
Lease Rate
$6.48 /SF/Yr
Expense Ratio
15.00%
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%
$574,980
Cap Rate 7%
$410,700
Cap Rate 9%
$319,433
Alternative Uses
Best Use
Warehouse
$410.7K
$359.4K – $479.2K
NOI $28,749 @ 7.0% cap · market cap 6.86%
Second Best
Industrial
$338.2K
$296.0K – $394.6K
NOI $23,676 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$1.90M
$1.66M – $2.22M
NOI $132,923 @ 7.0% cap · market cap 31.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
789
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60131, IL
18,205
Population
6,120
Households
3
Avg Household Size
39
Median Age
19%
College-Educated
77%
High-School Grad
5.4 sq mi
ZIP Area
3,371
Density / Sq Mi
$76,404
Median Household Income
$39,117
Median Earnings
$1,092
Median Rent
$261,800
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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- Metro Self Storage - Franklin Park — 9501 Grand Ave, Franklin Park, IL 60131
Frequently Asked Questions
What type of property is this?
Warehouse - Open warehouse configuration with two-and-a-half baths, approximately 12-foot clearance, and COMMR zoning.
Where is this warehouse located?
The property is located at 10009-11 W Franklin Avenue N 10009 Franklin Park, IL.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: 2,650 sq. ft. east portion within an approximately 5,500 sq. ft. structure; 10 ft. overhead delivery door at the rear; Approximately 12 ft. ceiling clearance
