Industrial Flex
New
For Sale
$430,000
1249 Cobblestone Way, Woodstock, IL 60098
Includes office space, mezzanine storage, a slop sink, and drive-in access.
Property Size3,510 SF
Price / SF$122.51
Days on Market7
Property Features for 1249 Cobblestone Way
General Information
Standard status
Active
Size
3,510 SF
Property subtype
Commercial
Warehouse & Industrial
Office Build-Out
720 SF
Dock-High Doors
1
Drive-In Doors
2
Additional Details
Asking Price
$860,000
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,127
Building Details
Building Size
3,510 SF
Year Built
1987
Stories
1
Listing Agency:
Premier Commercial Realty
(847) 854-2300
Listed By:
Heather Schweitzer · License #471019756
(847) 854-2300
Source:
Cavanaghrealty
Added: Aug 13
Changed: Aug 19
Last Checked: Aug 19 at 2:54AM
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 Premier Commercial Realty
Investment Insights
Based on property information with market context.
Two adjacent industrial flex condominium units are available at 3,510 SF each, with the option to combine them into 7,020 SF. Both units include 360 SF of office space, a slop sink, one 10' x 10' drive-in door, and access to a shared dock equipped with a 16' x 16' door. Unit 1249 also offers mezzanine storage above the office area; that storage is not included in the stated square footage.
Built in 1987, the property is positioned near Rt. 47 and Northwest Hwy, behind the Harley Davidson dealership in Woodstock, Illinois. The adjacent-unit configuration allows for separate ownership or a larger combined industrial flex footprint.
Built in 1987, the property is positioned near Rt. 47 and Northwest Hwy, behind the Harley Davidson dealership in Woodstock, Illinois. The adjacent-unit configuration allows for separate ownership or a larger combined industrial flex footprint.
Key Highlights
- Two adjacent 3,510 SF industrial flex condominium units
- Combined configuration provides 7,020 SF
- Each unit includes 360 SF of office space
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
$20,956
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
4.87%
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%
$419,120
$419.1K
Cap Rate 7%
$299,371
$299.4K
Cap Rate 9%
$232,844
$232.8K
Market Conditions
NOI Build-Up for 3,510 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
$34.1K $9.72/SF
− Vacancy
−$1.9K −$0.53/SF
EGI
$32.2K $9.19/SF
− OpEx
−$11.3K −$3.21/SF
NOI
$21.0K $5.97/SF
Area
McHenry County, IL
Vacancy
5.50%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
35.00%
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%
$419,120
Cap Rate 7%
$299,371
Cap Rate 9%
$232,844
Alternative Uses
Best Use
Flex RnD
$299.4K
$262.0K – $349.3K
NOI $20,956 @ 7.0% cap · market cap 4.87%
Second Best
Warehouse
$262.1K
$229.3K – $305.8K
NOI $18,347 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,829 @ 7.0% cap · market cap 19.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
2
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
389
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60098, IL
33,153
Population
13,310
Households
2.5
Avg Household Size
40
Median Age
33%
College-Educated
91%
High-School Grad
104.8 sq mi
ZIP Area
316
Density / Sq Mi
$92,749
Median Household Income
$42,799
Median Earnings
$1,178
Median Rent
$257,900
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Includes office space, mezzanine storage, a slop sink, and drive-in access.
Where is this flex space located?
The property is located at 1249 Cobblestone Way Woodstock, IL.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Two adjacent 3,510 SF industrial flex condominium units; Combined configuration provides 7,020 SF; Each unit includes 360 SF of office space
