Retail/Office Building on US
For Sale
Contact for pricing
19214 S La Grange Rd, Mokena, IL
7,613 SF retail/office building with high-end buildout for sale.
Property Size7,613 SF
Lot Size1.51 Acres
Price / SF$354.53
Days on Market817
Property Features for 19214 S La Grange Rd
General Information
Standard status
Active
Size
7,613 SF
Lot size
1.51 Acres
Property subtype
RETAIL
Listing Agency:
Coldwell Banker Commercial Real Estate Group
(815) 405-3679
Listed By:
Nick Ferro · License #471018453
(815) 405-3679
Source:
Moodyscre
Added: May 13, 2024
Changed: Jul 6
Last Checked: Jul 21 at 6:29AM
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 Coldwell Banker Commercial Real Estate Group
Investment Insights
Based on property information with market context.
This 7,613 square foot building, suitable for retail or office use, is available for sale. Constructed within the last 6 to 10 years, the property features a high-end buildout. The building has one available floor. It offers a maximum contiguous area of 2,859 square feet and a minimum divisible area of 2,859 square feet. The lot dimensions are 242 feet by 271 feet, with a lot size between 1 and 2 acres. The property benefits from frontage on US Route 45/S Lagrange Road, which sees over 30,000 vehicles per day. City sewer and city water services are connected.
Key Highlights
- High Traffic Location: Frontage on US Rte 45/S Lagrange Rd with over 30,000 Vehicles Per Day (VPD).
- Versatile 7,613 sf retail/office building.
- Recent Construction: Building age is 6‑10 years old.
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
$91,456
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
3.39%
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%
$1,829,120
$1.8M
Cap Rate 7%
$1,306,514
$1.3M
Cap Rate 9%
$1,016,178
$1.0M
Market Conditions
NOI Build-Up for 7,613 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
$171.7K $22.56/SF
− Vacancy
−$49.8K −$6.54/SF
EGI
$121.9K $16.02/SF
− OpEx
−$30.5K −$4.00/SF
NOI
$91.5K $12.01/SF
Area
Will County, IL
Vacancy
29.00%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
25.00%
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%
$1,829,120
Cap Rate 7%
$1,306,514
Cap Rate 9%
$1,016,178
Alternative Uses
Best Use
Office B
$1.31M
$1.14M – $1.52M
NOI $91,456 @ 7.0% cap · market cap 3.39%
Second Best
Retail
$1.03M
$899.3K – $1.20M
NOI $71,943 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$1.73M
$1.51M – $2.01M
NOI $120,864 @ 7.0% cap · market cap 4.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
588
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 7,613 SF retail/office building with high-end buildout for sale.
Where is this retail space located?
The property is located at 19214 S La Grange Rd Mokena, IL.
What is the asking price?
The asking price for this property is $2,699,000.
What are key features of this property?
This property features: High Traffic Location: Frontage on US Rte 45/S Lagrange Rd with over 30,000 Vehicles Per Day (VPD).; Versatile 7,613 sf retail/office building.; Recent Construction: Building age is 6‑10 years old.
