Renovated Flex Space with Loading
For Sale
$1,300,000
1204 S Galena Ave, Dixon, IL 61021
The property combines updated building systems with a loading dock, wash bay, and cold storage.
Property Size14,000 SF
Price / SF$92.86
Days on Market47
Property Features for 1204 S Galena Ave
General Information
Standard status
Active
Size
14,000 SF
Site & Location
Corner Location
Yes
Traffic Count
12,000 vehicles/day
Road Access
Yes
Warehouse & Industrial
Three-Phase Power
Yes
Cold Storage
Yes
Cold Storage Area
900 SF
Amenities
all new epoxy flooring throughout
all new 3-phase electrical
rubberized roof installed in 2018
loading dock
indoor wash bay
floor drains on both the main level and lower level
newer furnace and central air
30 x 30 cold storage building built in 2021
Building Details
Year Built
1950
Year Renovated
2021
Buildings
2
Listing Agency:
Keller Williams Inspire
Listed By:
Justin Pillion · License #475160180
(630) 377-6200
Source:
Grandviewrealtyservices
Added: Sep 5
Changed: Oct 3
Last Checked: Oct 21 at 1:36AM
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 Keller Williams Inspire
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 14,000-square-foot flex property, built in 1950, received renovations in 2021 that included epoxy flooring and new 3-phase electrical service. The building features a loading dock, indoor wash bay, floor drains on both the main and lower levels, newer furnace and central air, and a 30' x 30' cold storage building constructed in 2021. A rubberized roof installed in 2018 carries a 20-year transferable warranty.
Located at 1204 S Galena Ave in Dixon, the property occupies a corner with frontage along Galena Avenue and Division Street. The site is less than one mile from Interstate 88 and receives exposure to more than 12,000 vehicles daily, providing access and visibility for commercial operations.
Located at 1204 S Galena Ave in Dixon, the property occupies a corner with frontage along Galena Avenue and Division Street. The site is less than one mile from Interstate 88 and receives exposure to more than 12,000 vehicles daily, providing access and visibility for commercial operations.
Key Highlights
- 14,000 SF flex property built in 1950
- Renovations in 2021 included new epoxy flooring and 3‑phase electrical service
- 30' x 30' cold storage building constructed in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$118,453
Cap Rate
9.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,369,060
$2.4M
Cap Rate 7%
$1,692,186
$1.7M
Cap Rate 9%
$1,316,144
$1.3M
Market Conditions
NOI Build-Up for 14,000 SF
Gross rent
$147.0K $10.50/SF
− Vacancy
−$7.6K −$0.55/SF
EGI
$139.4K $9.95/SF
− OpEx
−$20.9K −$1.49/SF
NOI
$118.5K $8.46/SF
Area
Lee County, IL
Vacancy
5.20%
Lease Rate
$10.50 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,369,060
Cap Rate 7%
$1,692,186
Cap Rate 9%
$1,316,144
Alternative Uses
Best Use
Warehouse
$1.69M
$1.48M – $1.97M
NOI $118,453 @ 7.0% cap · market cap 9.11%
Second Best
Flex RnD
$1.59M
$1.39M – $1.85M
NOI $111,231 @ 7.0% cap · market cap 8.56%
Theoretical Best
Office A
$3.82M
$3.34M – $4.45M
NOI $267,120 @ 7.0% cap · market cap 20.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
12,000 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
331
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 61021, IL
22,984
Population
10,110
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
89%
High-School Grad
150.1 sq mi
ZIP Area
153
Density / Sq Mi
$65,719
Median Household Income
$40,805
Median Earnings
$823
Median Rent
$144,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- Coty's Unique Cooking & Catering — 216 W 1st St, Dixon, IL 61021
Frequently Asked Questions
What type of property is this?
Flex space - The property combines updated building systems with a loading dock, wash bay, and cold storage.
Where is this flex space located?
The property is located at 1204 S Galena Ave Dixon, IL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 14,000 SF flex property built in 1950; Renovations in 2021 included new epoxy flooring and 3‑phase electrical service; 30' x 30' cold storage building constructed in 2021
