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    Industrial Truck Terminal and Repair Title is generated by Realmo AI

    440 E Backbone Rd, Princeton, IL 61356

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    For Sale
    $645,000

    Purpose-built warehouse with on-site repair shop, dock and drive-in access, and fenced trailer parking for logistics operators.

    Type:Industrial
    Property size:
    10,728 SF
    Lot size:
    3.77 Acres
    Price / SF:
    $60/SF
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 2 at 3:27 am

    Property Features for 440 E Backbone Rd

    General Information

    Standard status
    Active
    Size
    10,728 SF
    Lot size
    3.77 Acres
    Property subtype
    Industrial

    We can help!

    Listing Contact
    Jon Chamlin
    Jon Chamlin

    Listing agent Jon Chamlin

    Listing office Cawley Chicago

    Listing date Jun 2, 2026

    Source Cawleycre

    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 Cawley Chicago

    HighLights

    • 10,728 SF industrial building on 3.77 acres, including an 8,600 SF repair shop and a 2,128 SF truck terminal
    • Trailer parking for 40+ trailers, plus a fenced lot with perimeter fence
    • Loading access includes 5 drive‑in doors and 8 dock doors
    • Triple catch basin with floor drains and epoxy no‑slip flooring throughout
    • Exhaust evacuation system for the repair shop/warehouse area

    Overview

    This industrial facility at 440 E. Backbone Rd includes a 10,728 SF building with an 8,600 SF repair shop and a 2,128 SF truck terminal. The site sits on 3.77 acres and is designed for hands-on fleet and distribution activity, with a fenced lot and perimeter fencing supporting secure operations. Access is available through 5 drive-in doors and 8 dock doors, providing flexibility for inbound, outbound, and service workflows. Interior features include triple catch basin with floor drains, epoxy no-slip flooring throughout, and an exhaust evacuation system, supporting vehicle service and maintenance requirements.

    The property offers ample parking with space for 40+ trailers, helping reduce staging constraints during busy cycles. Multiple door types and the dedicated trailer parking setup make it well suited for day-to-day trucking and distribution activities where turnaround depends on operational access.

    For investors, buyers, or operators seeking an industrial asset, the combination of repair shop space and a dedicated truck terminal creates a versatile platform for warehouse and distribution tenants. The secured, service-oriented improvements support operators that need both logistics infrastructure and functional maintenance capabilities in a single facility.
    Location Intelligence

    Current Use by Public Records

    Truck terminals

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • RV Barn Storage — 529 Elm Pl, Princeton, IL 61356
    • Princeton Mini Storage — 555 Elm Pl, Princeton, IL 61356
    • Hidden View Storage — 1235 N Euclid Ave, Princeton, IL 61356
    • Valley Storage Co — 533 E Railroad Ave, Princeton, IL 61356
    • Caindog Storage — N Olympic Rd, Princeton, IL 61356

    Location Insight

    • Map
    • Local Demand
    City
    Princeton
    County
    Bureau
    State
    Illinois
    Longitude
    -89.471094
    Latitude
    41.393381

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    FAQs

    What type of property is this?
    Warehouse - Purpose-built warehouse with on-site repair shop, dock and drive-in access, and fenced trailer parking for logistics operators.
    Where is this warehouse located?
    The property is located at 440 E Backbone Rd Princeton, IL.
    What is the asking price?
    The asking price for this property is $645,000.
    What are key features of this property?
    This property features: 10,728 SF industrial building on 3.77 acres, including an 8,600 SF repair shop and a 2,128 SF truck terminal; Trailer parking for 40+ trailers, plus a fenced lot with perimeter fence; Loading access includes 5 drive‑in doors and 8 dock doors
    (312) 766-4281
    We can help!
    Listing Contact
    Jon Chamlin
    Jon Chamlin
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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