Four-Bay Automotive Service
New
For Sale
$975,000
127 W 162nd St, South Holland, IL 60473
Automotive property with repair bays, retail space, a mechanic garage, and a paved lot near established commercial businesses.
Property Size2,400 SF
Lot Size0.86 Acres
Price / SF$406.25
Days on Market2
Property Features for 127 W 162nd St
General Information
Standard status
Active
Size
2,400 SF
Lot size
0.86 Acres
Additional Details
Road Access
Yes
Service Bays
4
Building Details
Year Built
1991
Buildings
2
Listing Agency:
Capital Investment Realty Group Inc
Listed By:
Otis Lazich · License #471009343
(708) 692-7283
Source:
Bktchicago
Added: Sep 7
Last Checked: Sep 8 at 10:03AM
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 Capital Investment Realty Group Inc
Investment Insights
Based on property information with market context.
This automotive property combines a retail building, mechanic garage, and paved lot, with a four-bay repair operation serving the existing dealership and service use. The building was constructed in 1991, and the site includes both customer-facing and automotive service components.
Located at 127 W 162nd St in South Holland, the property sits near the intersection of 162nd Street and State Street. The surrounding commercial area includes restaurants, stores, banking, and other auto-related businesses, providing a setting with varied retail and service activity.
Located at 127 W 162nd St in South Holland, the property sits near the intersection of 162nd Street and State Street. The surrounding commercial area includes restaurants, stores, banking, and other auto-related businesses, providing a setting with varied retail and service activity.
Key Highlights
- Four repair bays within the mechanic garage
- Retail building and automotive service components on one property
- Paved lot included
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
$33,312
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
3.42%
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%
$666,240
$666.2K
Cap Rate 7%
$475,886
$475.9K
Cap Rate 9%
$370,133
$370.1K
Market Conditions
NOI Build-Up for 2,400 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
$51.8K $21.60/SF
− Vacancy
−$4.3K −$1.77/SF
EGI
$47.6K $19.83/SF
− OpEx
−$14.3K −$5.95/SF
NOI
$33.3K $13.88/SF
Area
Cook County, IL
Vacancy
8.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$666,240
Cap Rate 7%
$475,886
Cap Rate 9%
$370,133
Alternative Uses
Best Use
Retail
$475.9K
$416.4K – $555.2K
NOI $33,312 @ 7.0% cap · market cap 3.42%
Second Best
Industrial
$147.6K
$129.1K – $172.2K
NOI $10,331 @ 7.0% cap · market cap 1.06%
Theoretical Best
Office A
$828.6K
$725.0K – $966.7K
NOI $58,003 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Service bays
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
660
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60473, IL
21,661
Population
7,969
Households
2.7
Avg Household Size
43
Median Age
27%
College-Educated
92%
High-School Grad
7.8 sq mi
ZIP Area
2,777
Density / Sq Mi
$88,046
Median Household Income
$40,903
Median Earnings
$1,914
Median Rent
$200,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Automotive property with repair bays, retail space, a mechanic garage, and a paved lot near established commercial businesses.
Where is this auto shop located?
The property is located at 127 W 162nd St South Holland, IL.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Four repair bays within the mechanic garage; Retail building and automotive service components on one property; Paved lot included
