Four-Bay Auto
For Sale
$859,000
11849 S Pulaski Rd, Alsip, IL 60803
B1-zoned corner property with shop equipment, office space, public restrooms, and multiple permitted commercial use possibilities.
Property Size3,000 SF
Price / SF$286.33
Days on Market107
Property Features for 11849 S Pulaski Rd
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
18
Property subtype
Commercial
Zoning
B1
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Business Included
Yes
Land Use
commercial, automotive
Service Bays
4
Amenities
overhead doors
office area
public restrooms
120V/240V power
Building Details
Buildings
1
Construction
concrete block
Tenancy
Single
Abandoned
No
Listing Agency:
Compass
Listed By:
Michael Giliano · License #475135259
(630) 816-1363
Source:
Illianahomesource
Added: May 25
Changed: Sep 7
Last Checked: Sep 7 at 2:48PM
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 Compass
Investment Insights
Based on property information with market context.
This auto shop occupies a 3,000-square-foot concrete block building arranged with four service bays, overhead doors, a dedicated office, and public restrooms. The facility has 120V/240V power, and shop equipment is included. The property has operated as an automotive repair and tire business for more than 40 years.
Located at 11849 S Pulaski Rd in Alsip’s Central Business District, the property sits at the intersection of 119th and Pulaski. The site includes 13–18 outdoor parking spaces and benefits from corner access. B1 zoning supports continued automotive use as well as other stated commercial possibilities, including a drive-through restaurant or coffee use, bank, or cannabis dispensary. The land has been cleaned and certified under EPA standards, and expansion may be possible through acquisition of the adjacent property.
Located at 11849 S Pulaski Rd in Alsip’s Central Business District, the property sits at the intersection of 119th and Pulaski. The site includes 13–18 outdoor parking spaces and benefits from corner access. B1 zoning supports continued automotive use as well as other stated commercial possibilities, including a drive-through restaurant or coffee use, bank, or cannabis dispensary. The land has been cleaned and certified under EPA standards, and expansion may be possible through acquisition of the adjacent property.
Key Highlights
- 3,000 sq ft concrete block building with four service bays
- 120V/240V power, overhead doors, office, and public restrooms
- Shop equipment included with the property
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
$41,504
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
4.83%
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%
$830,080
$830.1K
Cap Rate 7%
$592,914
$592.9K
Cap Rate 9%
$461,156
$461.2K
Market Conditions
NOI Build-Up for 3,000 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
$64.8K $21.60/SF
− Vacancy
−$5.5K −$1.84/SF
EGI
$59.3K $19.76/SF
− OpEx
−$17.8K −$5.93/SF
NOI
$41.5K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$830,080
Cap Rate 7%
$592,914
Cap Rate 9%
$461,156
Alternative Uses
Best Use
Retail
$592.9K
$518.8K – $691.7K
NOI $41,504 @ 7.0% cap · market cap 4.83%
Second Best
Industrial
$268.8K
$235.2K – $313.6K
NOI $18,813 @ 7.0% cap · market cap 2.19%
Theoretical Best
Office A
$1.41M
$1.24M – $1.65M
NOI $99,014 @ 7.0% cap · market cap 11.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Service bays
Single-tenant
Tenancy
Turnkey business
Opportunity
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
192k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 49%
Dining 29%
Shops & Services 22%
Jewel-Osco
Groceries
37,664 visits/mo
0.2 miles
Food 4 Less
Groceries
36,074 visits/mo
0.3 miles
McDonald's
Dining
30,800 visits/mo
0.1 miles
Aldi
Groceries
20,316 visits/mo
0.2 miles
Chase Bank
Shops & Services
17,941 visits/mo
0.2 miles
Demographics for 60803, IL
22,189
Population
9,563
Households
2.3
Avg Household Size
40
Median Age
21%
College-Educated
88%
High-School Grad
7.8 sq mi
ZIP Area
2,845
Density / Sq Mi
$66,555
Median Household Income
$42,245
Median Earnings
$1,113
Median Rent
$200,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - B1-zoned corner property with shop equipment, office space, public restrooms, and multiple permitted commercial use possibilities.
Where is this auto shop located?
The property is located at 11849 S Pulaski Rd Alsip, IL.
What is the asking price?
The asking price for this property is $859,000.
What are key features of this property?
This property features: 3,000 sq ft concrete block building with four service bays; 120V/240V power, overhead doors, office, and public restrooms; Shop equipment included with the property
