Heated Flex Space with
For Sale
$545,000
1300 N Reed Station Road, Carbondale, IL 62901
Includes finished offices, a heated warehouse, and a detached storage building.
Property Size4,562 SF
Lot Size2.00 Acres
Days on Market1070
Property Features for 1300 N Reed Station Road
General Information
Standard status
Active
Size
4,562 SF
Lot size
2.00 Acres
Property subtype
Commercial
Zoning
SB
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$11,849
Building Details
Building Size
4,562 SF
Buildings
2
Listing Agency:
COMMERCIAL REALTY ASSOCIATES
(618) 303-0701
Listed By:
Rolf Schilling · License #471012048
(618) 303-0701
Source:
Cavanaghrealty
Added: Sep 7, 2023
Changed: Aug 7
Last Checked: Aug 10 at 10:54AM
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 COMMERCIAL REALTY ASSOCIATES
Investment Insights
Based on property information with market context.
This flex space combines finished office accommodation with a heated warehouse and a separate storage building. The office component measures over 2200 square feet and includes 5 private offices, 2 baths, a file room, break room, reception area, and waiting areas. The warehouse portion also measures over 2200 square feet, is heated, and has two overhead doors.
A detached storage building adds overhead doors, concrete floors, and lighting. The property occupies 2 acres east of Carbondale immediately off Hwy. 13, with parking available on site and access from N Reed Station Road.
A detached storage building adds overhead doors, concrete floors, and lighting. The property occupies 2 acres east of Carbondale immediately off Hwy. 13, with parking available on site and access from N Reed Station Road.
Key Highlights
- Office area measures over 2200 square feet with 5 private offices and 2 baths
- Heated warehouse space measures over 2200 square feet
- Warehouse includes two overhead doors
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
$26,715
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
4.90%
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%
$534,300
$534.3K
Cap Rate 7%
$381,643
$381.6K
Cap Rate 9%
$296,833
$296.8K
Market Conditions
NOI Build-Up for 4,562 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
$33.9K $7.44/SF
− Vacancy
−$2.5K −$0.55/SF
EGI
$31.4K $6.89/SF
− OpEx
−$4.7K −$1.03/SF
NOI
$26.7K $5.86/SF
Area
Jackson County, IL
Vacancy
7.40%
Lease Rate
$7.44 /SF/Yr
Expense Ratio
15.00%
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%
$534,300
Cap Rate 7%
$381,643
Cap Rate 9%
$296,833
Alternative Uses
Best Use
Office B
$1.14M
$993.6K – $1.32M
NOI $79,488 @ 7.0% cap · market cap 14.58%
Second Best
Warehouse
$381.6K
$333.9K – $445.3K
NOI $26,715 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $87,043 @ 7.0% cap · market cap 15.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
104
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 62901, IL
22,967
Population
12,498
Households
1.8
Avg Household Size
29
Median Age
48%
College-Educated
95%
High-School Grad
27.1 sq mi
ZIP Area
847
Density / Sq Mi
$32,960
Median Household Income
$23,962
Median Earnings
$732
Median Rent
$137,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Includes finished offices, a heated warehouse, and a detached storage building.
Where is this flex space located?
The property is located at 1300 N Reed Station Road Carbondale, IL.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Office area measures over 2200 square feet with 5 private offices and 2 baths; Heated warehouse space measures over 2200 square feet; Warehouse includes two overhead doors
