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    Versatile Commercial Space in Galena Title is generated by Realmo AI

    11470 Industrial Drive, Galena, IL 61036

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    Claim this Listing
    For Sale
    $749,900

    COMMERCIAL - GALENA, IL

    Property size:
    4,600 SF
    Lot size:
    0.82 Acres
    Price / SF:
    $163/SF
    Added:
    Jan 18, 2026
    Days on Market:
    131
    Last Refresh:
    May 29 at 6:06 pm

    Property Features for 11470 Industrial Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    1300107838
    Size
    4,600 SF
    Lot size
    0.82 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    9567

    Utilities

    Heating system
    Natural Gas, Electric (Heating), Forced Air
    Cooling system
    Central Air, Wall Unit(s)

    Building Details

    Year built
    1994
    Flooring type
    Carpet, Concrete, Tile
    Roof type
    Metal

    We can help!

    Listing Contact
    DAMON HEIM
    DAMON HEIM

    Listing agent DAMON HEIM License #471000758

    Listing office COLDWELL BANKER NETWORK REALTY 401 S MAIN ST., Galena, IL

    Listing date Jan 18, 2026

    MLS# 202600303

    Copyright © 2026 NorthWest Illinois Alliance of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Heavy Industrial zoning and versatile space suitable for various industrial, service, or contractor uses.
    • Combination of 4,600 sq ft of office space and an 80’ x 20’ warehouse/garage.
    • Convenient access to Highway 20.
    • Secure, fenced outdoor storage and parking.
    • Two tall overhead doors for easy warehouse/garage access.
    • Well‑equipped office space with reception area, private offices, conference room, and kitchenette.

    Overview

    Located a few blocks from Highway 20 at 11470 Industrial Drive in Galena, this commercial complex is zoned Heavy Industrial. It combines approximately 4,600 square feet of office space across two levels with an 80' x 20' warehouse/garage area. The warehouse includes two tall overhead doors, making it suitable for industrial, service, or contractor uses. The main level features a reception area with a waiting room, a large multi-station office, a private office, a storage room, a half bath, a hospitality room with a kitchenette, and direct access to the garage/warehouse. The upper level offers six private offices, a waiting or common area, a full bath, and a conference room. The warehouse/garage space provides room for vehicles, equipment, storage, and machinery, with overhead door access on either end. Exterior amenities include asphalt parking in front and fenced, secure outdoor storage and parking behind. The property sits on a 0.82-acre lot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Arrow Group Electrical Service abtllc.info Consultant Arrow Networks Tech Support Center

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Auto Repair Shop Hair Salon Big Box & Wholesale Store Nail Salon Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Galena
    County
    Jo Daviess
    State
    Illinois
    Longitude
    -90.456464
    Latitude
    42.435833

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    FAQs

    What type of property is this?
    Flex space - Multi-faceted commercial complex with office and warehouse space.
    Where is this flex space located?
    The property is located at 11470 Industrial Drive Galena, IL.
    What is the asking price?
    The asking price for this property is $749,900.
    What are key features of this property?
    This property features: Heavy Industrial zoning and versatile space suitable for various industrial, service, or contractor uses.; Combination of 4,600 sq ft of office space and an 80’ x 20’ warehouse/garage.; Convenient access to Highway 20.
    (815) 266-2427
    We can help!
    Listing Contact
    DAMON HEIM
    DAMON HEIM
    Real Estate License ID: 471000758
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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.

    More about this property
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