Versatile Commercial Property in
For Sale
$1,520,000
625 N Bridgeport Ter, Lindenhurst, IL 60046
Adaptable commercial space with retail, restaurant, office, and special use potential.
Property Size6,500 SF
Price / SF$233.85
Days on Market660
Property Features for 625 N Bridgeport Ter
General Information
Standard status
Active
Size
6,500 SF
Taxes and HOA fees
Annual Taxes
$20,892
Listing Agency:
Compass
(847) 306-6158
Listed By:
Shamar Brossard · License #IL475184772
(847) 306-6158
Source:
Exprealty
Added: Oct 30, 2024
Changed: Aug 11
Last Checked: Aug 20 at 9:20AM
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.
Located in Lindenhurst, IL, the property at 625 Bridgeport Terrace presents a versatile opportunity for entrepreneurs and investors. Currently used for retail, the property includes an expansive main room spanning over 6,500 square feet with a 14-foot clear height. It connects to a 1,000 square foot warehouse, which features a 10-foot overhead drive-in door and a triple basin. The property benefits from 86 feet of frontage and a parking lot that accommodates 36 vehicles. The space could be transformed into a full-service restaurant, potentially with gaming facilities, or a brewery or distillery. The layout is also adaptable for creative or medical offices. The property holds potential for special use projects. The village offers grants for permanent improvements. The location offers accessibility and visibility.
Key Highlights
- Expansive 6,500 SF main room with 14' clear height, ideal for diverse uses.
- Includes a 1,000 SF warehouse with a 10' overhead drive‑in door and triple basin.
- Large parking lot with 36 vehicle capacity and 86 feet of frontage.
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
$119,656
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
7.87%
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%
$2,393,120
$2.4M
Cap Rate 7%
$1,709,371
$1.7M
Cap Rate 9%
$1,329,511
$1.3M
Market Conditions
NOI Build-Up for 6,500 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
$163.8K $25.20/SF
− Vacancy
−$4.3K −$0.66/SF
EGI
$159.5K $24.54/SF
− OpEx
−$39.9K −$6.14/SF
NOI
$119.7K $18.41/SF
Area
Lake County, IL
Vacancy
2.60%
Lease Rate
$25.20 /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%
$2,393,120
Cap Rate 7%
$1,709,371
Cap Rate 9%
$1,329,511
Alternative Uses
Best Use
Specialty Retail
$1.71M
$1.50M – $1.99M
NOI $119,656 @ 7.0% cap · market cap 7.87%
Second Best
Office B
$1.28M
$1.12M – $1.49M
NOI $89,624 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$2.24M
$1.96M – $2.62M
NOI $157,091 @ 7.0% cap · market cap 10.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
302
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60046, IL
34,690
Population
12,544
Households
2.8
Avg Household Size
41
Median Age
42%
College-Educated
94%
High-School Grad
23.0 sq mi
ZIP Area
1,508
Density / Sq Mi
$122,376
Median Household Income
$58,297
Median Earnings
$1,645
Median Rent
$282,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Adaptable commercial space with retail, restaurant, office, and special use potential.
Where is this warehouse located?
The property is located at 625 N Bridgeport Ter Lindenhurst, IL.
What is the asking price?
The asking price for this property is $1,520,000.
What are key features of this property?
This property features: Expansive 6,500 SF main room with 14' clear height, ideal for diverse uses.; Includes a 1,000 SF warehouse with a 10' overhead drive‑in door and triple basin.; Large parking lot with 36 vehicle capacity and 86 feet of frontage.
