Industrial Outdoor Storage
For Sale
$1,400,000
943 & 976 Raytek Road Boone, Belvidere, IL 61008
Industrial property on 8.43 acres with an office building, warehouse, and outdoor storage/recycling use, zoned I-2.
Property Size7,500 SF
Lot Size8.43 Acres
Price / SF$186.67
Days on Market78
Property Features for 943 & 976 Raytek Road Boone
General Information
Standard status
Active
Size
7,500 SF
Lot size
8.43 Acres
Property subtype
Land
Zoning
I-2
Additional Details
Outdoor Storage
Yes
Listed By:
Elise Couston, SIOR
(773) 957-1442
Source:
Nmrk
Added: Jul 22
Changed: Oct 1
Last Checked: Oct 5 at 3:39PM
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 Elise Couston, SIOR
Investment Insights
Based on property information with market context.
This industrial property consists of approximately 8.43 acres and includes an office building sized at 2,500 SF and a warehouse sized at 5,000 SF. The current use is listed as an outdoor storage and recycling center, supporting a work-yard style setup on site.
The property is zoned I-2 Industrial. It is located at 943 & 976 Raytek Road in Boone County, IL 61008.
The property is zoned I-2 Industrial. It is located at 943 & 976 Raytek Road in Boone County, IL 61008.
Key Highlights
- 8.43‑acre industrial property with office, warehouse, and outdoor storage/recycling area
- Office building totaling 2,500 SF
- Warehouse totaling 5,000 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,986
Cap Rate
6.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,859,720
$1.9M
Cap Rate 7%
$1,328,371
$1.3M
Cap Rate 9%
$1,033,178
$1.0M
Market Conditions
NOI Build-Up for 7,500 SF
Gross rent
$117.0K $15.60/SF
− Vacancy
−$7.6K −$1.01/SF
EGI
$109.4K $14.59/SF
− OpEx
−$16.4K −$2.19/SF
NOI
$93.0K $12.40/SF
Area
Boone County, IL
Vacancy
6.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,859,720
Cap Rate 7%
$1,328,371
Cap Rate 9%
$1,033,178
Alternative Uses
Best Use
Warehouse
$1.33M
$1.16M – $1.55M
NOI $92,986 @ 7.0% cap · market cap 6.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.99M
$1.75M – $2.33M
NOI $139,644 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
137
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 61008, IL
33,747
Population
13,406
Households
2.5
Avg Household Size
40
Median Age
21%
College-Educated
83%
High-School Grad
84.3 sq mi
ZIP Area
400
Density / Sq Mi
$75,833
Median Household Income
$38,509
Median Earnings
$953
Median Rent
$185,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Similar Off Market Nearby
- Garden Prairie Grain — 8791 IL-76, Belvidere, IL 61008
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial property on 8.43 acres with an office building, warehouse, and outdoor storage/recycling use, zoned I-2.
Where is this warehouse located?
The property is located at 943 & 976 Raytek Road Boone Belvidere, IL.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 8.43‑acre industrial property with office, warehouse, and outdoor storage/recycling area; Office building totaling 2,500 SF; Warehouse totaling 5,000 SF
