Industrial Flex Condo with
For Sale
Contact for pricing
11416 Kiley Drive, Huntley, IL 60142
M-zoned flex condominium with warehouse space, office buildout, mezzanine storage, and drive-in loading access.
Property Size3,025 SF
Price / SF$110.74
Days on Market125
Property Features for 11416 Kiley Drive
General Information
Standard status
Active
Size
3,025 SF
Property subtype
Office, Industrial
Zoning
M
Warehouse & Industrial
Warehouse Space
2,575 SF
Office Build-Out
450 SF
Drive-In Doors
1
Building Details
Year Built
1988
Listing Agency:
Premier Commercial Realty
(815) 236-9816
Listed By:
Heather Schweitzer · License #IL 471019756
Source:
Crexi
Added: Apr 29
Changed: Aug 30
Last Checked: Aug 30 at 11:11PM
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 Premier Commercial Realty
Investment Insights
Based on property information with market context.
Unit C is a 3,025-square-foot industrial flex condominium built in 1988, configured with 2,575 square feet of warehouse area and a 450-square-foot office component. The layout also includes two bathrooms, mezzanine storage above the office, and a 10-by-10-foot drive-in door. Two ceiling-hung heaters were added in 2025.
The property is located at 11416 Kiley Drive in Huntley, Illinois, near the I-90 and Route 47 interchange. Zoning is M. Automotive uses are not permitted, and overnight outside parking is not allowed.
The property is located at 11416 Kiley Drive in Huntley, Illinois, near the I-90 and Route 47 interchange. Zoning is M. Automotive uses are not permitted, and overnight outside parking is not allowed.
Key Highlights
- 3,025 SF industrial condominium with 2,575 SF warehouse and 450 SF office
- One 10' x 10' drive‑in door
- Mezzanine storage positioned above the office area
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
$18,061
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
5.39%
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%
$361,220
$361.2K
Cap Rate 7%
$258,014
$258.0K
Cap Rate 9%
$200,678
$200.7K
Market Conditions
NOI Build-Up for 3,025 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
$29.4K $9.72/SF
− Vacancy
−$1.6K −$0.53/SF
EGI
$27.8K $9.19/SF
− OpEx
−$9.7K −$3.21/SF
NOI
$18.1K $5.97/SF
Area
McHenry County, IL
Vacancy
5.50%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
35.00%
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%
$361,220
Cap Rate 7%
$258,014
Cap Rate 9%
$200,678
Alternative Uses
Best Use
Flex RnD
$258.0K
$225.8K – $301.0K
NOI $18,061 @ 7.0% cap · market cap 5.39%
Second Best
Warehouse
$225.9K
$197.7K – $263.5K
NOI $15,812 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$1.04M
$913.9K – $1.22M
NOI $73,108 @ 7.0% cap · market cap 21.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
408
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60142, IL
29,831
Population
13,194
Households
2.3
Avg Household Size
48
Median Age
39%
College-Educated
96%
High-School Grad
38.9 sq mi
ZIP Area
767
Density / Sq Mi
$87,286
Median Household Income
$55,366
Median Earnings
$1,377
Median Rent
$324,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Q.P. Kitchen & Que — 12050 4th St, Huntley, IL 60142
Frequently Asked Questions
What type of property is this?
Flex space - M-zoned flex condominium with warehouse space, office buildout, mezzanine storage, and drive-in loading access.
Where is this flex space located?
The property is located at 11416 Kiley Drive Huntley, IL.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: 3,025 SF industrial condominium with 2,575 SF warehouse and 450 SF office; One 10' x 10' drive‑in door; Mezzanine storage positioned above the office area
