Self-Storage Portfolio in Two
For Sale
Contact for pricing
380 S 7th Ave, Kankakee, IL
Two self-storage facilities with upside potential in Illinois and Indiana.
Property Size20,880 SF
Lot Size1.09 Acres
Price / SF$71.83
Days on Market539
Property Features for 380 S 7th Ave
General Information
Standard status
Active
Size
20,880 SF
Lot size
1.09 Acres
Property subtype
INDUSTRIAL
Listing Agency:
RIPCO Real Estate | Tampa
(813) 320-0050
Listed By:
Jack Kaiser
(732) 742-9250
Source:
Moodyscre
Added: Apr 15, 2025
Changed: Sep 4
Last Checked: Oct 4 at 12:53PM
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 RIPCO Real Estate | Tampa
Investment Insights
Based on property information with market context.
This portfolio features two self-storage facilities located in Kankakee, Illinois, and Plymouth, Indiana, less than two hours apart. The properties are situated on approximately 1.90 acres and include a total of 111 units, offering approximately 20,880 square feet of net rentable space. The unit mix is diversified with drive-up self-storage options. Both sites are secured with perimeter fencing and gated entry, allowing for remote operation. The Kankakee facility is located in Northeast Illinois, about 60 miles south of Chicago, with convenient access to major highways, including SR 17 and I-45. The Plymouth, Indiana, facility is at the intersection of U.S. Route 30 and 31, providing accessibility for distribution, logistics, and transportation. There is potential to increase value by raising occupancy and rental rates.
Key Highlights
- Massive Upside Potential: Increase value through occupancy and rental rate increases.
- Strategic Self‑Storage Portfolio: Two properties in Kankakee, IL & Plymouth, IN.
- Centrally Located Facilities: Kankakee near SR 17 & I‑45; Plymouth at U.S. Route 30 & 31.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$134,254
Cap Rate
8.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,685,080
$2.7M
Cap Rate 7%
$1,917,914
$1.9M
Cap Rate 9%
$1,491,711
$1.5M
Market Conditions
NOI Build-Up for 20,880 SF
Gross rent
$203.0K $9.72/SF
− Vacancy
−$11.2K −$0.53/SF
EGI
$191.8K $9.19/SF
− OpEx
−$57.5K −$2.76/SF
NOI
$134.3K $6.43/SF
Area
Kankakee County, IL
Vacancy
5.50%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,685,080
Cap Rate 7%
$1,917,914
Cap Rate 9%
$1,491,711
Alternative Uses
Best Use
Self Storage
$2.49M
$2.18M – $2.90M
NOI $174,269 @ 7.0% cap · market cap 11.62%
Second Best
Industrial
$1.92M
$1.68M – $2.24M
NOI $134,254 @ 7.0% cap · market cap 8.95%
Theoretical Best
Multifamily LT 5
$16.84M
$14.74M – $19.65M
NOI $1,179,122 @ 7.0% cap · market cap 78.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,514
Businesses Nearby
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Self storage facility - Two self-storage facilities with upside potential in Illinois and Indiana.
Where is this self storage facility located?
The property is located at 380 S 7th Ave Kankakee, IL.
What is the asking price?
The asking price for this property is $1,499,727.
What are key features of this property?
This property features: Massive Upside Potential: Increase value through occupancy and rental rate increases.; Strategic Self‑Storage Portfolio: Two properties in Kankakee, IL & Plymouth, IN.; Centrally Located Facilities: Kankakee near SR 17 & I‑45; Plymouth at U.S. Route 30 & 31.
