Fire-Walled Flex/Warehouse
12521 W Horseshoe Dr New Lenox, IL 60451
New
For Sale
$2,450,000
Five fire-walled, fully leased warehouse and office units feature masonry construction, unit heaters, and 14x14 overhead doors.
Days on Market5
Property Features for 12521 W Horseshoe Dr
General Information
Standard status
Active
Property subtype
Industrial - Flex - Industrial
Building Details
Year Built
2005
Listing Agency:
Coldwell Banker Commercial Real Estate Group
(815) 553-2406
Listed By:
Leah Erickson · License #475204597
Source:
Commercialcafe
Added: Jul 26
Changed: Jul 28
Last Checked: Jul 29 at 4:09AM
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 fully leased industrial and flex property is built as five fire-walled tenant spaces, providing stable occupancy. The structure features solid masonry construction to the roof, 5/8" drywalled ceilings and finishes, and a durable metal roof. Each unit includes unit heaters and floor drains, along with a 14x14' overhead door and half-baths in every warehouse unit. Unit 12525 includes a professional built-out office space.
Operational access is designed for everyday use, with units 12521 and 12531 featuring massive 14' x 14' drive-in doors on both sides of the unit. The property also has ample parking.
Power has been upgraded to all units with 3-phase, 208V service. Unit 12521 is notable for a unique, city-approved Special Use Permit allowing for a fully finished second-floor live/work apartment with a private deck. The established addresses are set up to allow for future industrial condo configurations.
Operational access is designed for everyday use, with units 12521 and 12531 featuring massive 14' x 14' drive-in doors on both sides of the unit. The property also has ample parking.
Power has been upgraded to all units with 3-phase, 208V service. Unit 12521 is notable for a unique, city-approved Special Use Permit allowing for a fully finished second-floor live/work apartment with a private deck. The established addresses are set up to allow for future industrial condo configurations.
Key Highlights
- Fully leased five‑unit commercial facility with fire‑walled tenant spaces and stable income from current tenants
- Built in 2005 with full solid masonry construction to roof, 5/8 in drywalled ceilings and finishes, and a durable metal roof
- Warehouse units include unit heaters, floor drains, and 14 x 14 ft overhead doors; Units 12521 and 12531 have massive 14 ft x 14 ft drive‑in doors on both sides
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $375.7k | $30.00 |
| − Vacancy | −$71.4k | −$5.70 |
| EGI | $304.3k | $24.30 |
| − OpEx | −$114.1k | −$9.11 |
| NOI | $190.2k | $15.19 |
12,523 SF · lease $30.00/SF/yr · vacancy 19.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$2.72M
$2.38M – $3.17M
NOI $190,193 @ 7.0% cap · market cap 7.76%
Second Best
Office B
$2.15M
$1.88M – $2.51M
NOI $150,441 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$2.84M
$2.49M – $3.31M
NOI $198,815 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Flex space - Five fire-walled, fully leased warehouse and office units feature masonry construction, unit heaters, and 14x14 overhead doors.
Where is this flex space located?
The property is located at 12521 W Horseshoe Dr New Lenox, IL.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: Fully leased five‑unit commercial facility with fire‑walled tenant spaces and stable income from current tenants; Built in 2005 with full solid masonry construction to roof, 5/8 in drywalled ceilings and finishes, and a durable metal roof; Warehouse units include unit heaters, floor drains, and 14 x 14 ft overhead doors; Units 12521 and 12531 have massive 14 ft x 14 ft drive‑in doors on both sides
