Open-Concept Flex
For Sale
Contact for pricing
1253 Cobblestone Way, Woodstock, IL 60098
Climate-controlled unit with glass-front entry, grade-level overhead door, kitchenette, and flexible I-1 zoning.
Property Size2,000 SF
Price / SF$160
Days on Market158
Property Features for 1253 Cobblestone Way
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Retail, Office, Industrial
Zoning
M1 - Light Manufacturing
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Drive-In Doors
1
Building Details
Year Built
1987
Listing Agency:
Coldwell Banker Commercial Real Estate Group
(815) 553-2406
Listed By:
John Higgins · License #IL
Source:
Crexi
Added: Mar 26
Changed: Aug 29
Last Checked: May 8 at 9:55AM
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 2,000 SF flex condominium combines an open interior with practical features for office, retail, service, or light industrial use. The unit includes a glass-front customer entrance, side grade-level overhead door, kitchenette, and 1/2 bath. Central air conditioning and forced-air gas heat provide year-round climate control, while the layout remains free of structural partitions.
Positioned in a business park near IL Route 47 and US Route 14, the property offers access to Woodstock’s primary commercial corridor. The location is near Woodstock Square, the Woodstock Opera House, dining, shopping, and local business amenities. I-1 Industrial zoning supports a range of professional office, service, and light industrial applications. The association manages exterior maintenance, lawn care, and snow removal. Built in 1987.
Positioned in a business park near IL Route 47 and US Route 14, the property offers access to Woodstock’s primary commercial corridor. The location is near Woodstock Square, the Woodstock Opera House, dining, shopping, and local business amenities. I-1 Industrial zoning supports a range of professional office, service, and light industrial applications. The association manages exterior maintenance, lawn care, and snow removal. Built in 1987.
Key Highlights
- 2,000 SF flex condominium with an open interior layout
- 100% open‑concept unit with one 1/2 bath and a kitchenette
- Glass‑front entrance plus side grade‑level overhead door
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
$27,577
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
8.62%
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%
$551,540
$551.5K
Cap Rate 7%
$393,957
$394.0K
Cap Rate 9%
$306,411
$306.4K
Market Conditions
NOI Build-Up for 2,000 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
$49.0K $24.48/SF
− Vacancy
−$12.2K −$6.10/SF
EGI
$36.8K $18.38/SF
− OpEx
−$9.2K −$4.60/SF
NOI
$27.6K $13.79/SF
Area
McHenry County, IL
Vacancy
24.90%
Lease Rate
$24.48 /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%
$551,540
Cap Rate 7%
$393,957
Cap Rate 9%
$306,411
Alternative Uses
Best Use
Office B
$394.0K
$344.7K – $459.6K
NOI $27,577 @ 7.0% cap · market cap 8.62%
Second Best
Flex RnD
$170.6K
$149.3K – $199.0K
NOI $11,941 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$690.5K
$604.2K – $805.6K
NOI $48,336 @ 7.0% cap · market cap 15.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
387
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 Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Climate-controlled unit with glass-front entry, grade-level overhead door, kitchenette, and flexible I-1 zoning.
Where is this flex space located?
The property is located at 1253 Cobblestone Way Woodstock, IL.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: 2,000 SF flex condominium with an open interior layout; 100% open‑concept unit with one 1/2 bath and a kitchenette; Glass‑front entrance plus side grade‑level overhead door
