Flexible Office
For Sale
$250,000
308 South St E, Plano, IL 60545
Professional commercial space includes private offices, a conference room, reception area, and one bathroom.
Property Size988 SF
Price / SF$253.04
Days on Market13
Property Features for 308 South St E
General Information
Standard status
Active
Size
988 SF
Building Details
Year Built
1974
Listing Agency:
Coldwell Banker Realty
(630) 369-9000
Listed By:
Felicia Holmes
Source:
Realtopiare
Added: Aug 18
Changed: Aug 29
Last Checked: Aug 25 at 5:21AM
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 Realty
Investment Insights
Based on property information with market context.
This commercial property provides a practical office configuration with a reception and common area, private office space, a conference room, and one bathroom. The layout supports a professional setting for business operations and offers multiple defined areas within the space. Built in 1974, the property is suited to an owner-user or investor seeking office-oriented commercial real estate in Plano.
The property is located in Plano, Illinois, within Kendall County and near established residential areas and local businesses. Its position along a neighborhood commercial corridor provides access to the surrounding community. The interior arrangement offers a straightforward foundation for professional services or other office-based operations.
The property is located in Plano, Illinois, within Kendall County and near established residential areas and local businesses. Its position along a neighborhood commercial corridor provides access to the surrounding community. The interior arrangement offers a straightforward foundation for professional services or other office-based operations.
Key Highlights
- Office configuration with reception and common area
- Private office space and conference room
- One bathroom
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
$13,714
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
5.49%
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%
$274,280
$274.3K
Cap Rate 7%
$195,914
$195.9K
Cap Rate 9%
$152,378
$152.4K
Market Conditions
NOI Build-Up for 988 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
$21.3K $21.60/SF
− Vacancy
−$1.7K −$1.77/SF
EGI
$19.6K $19.83/SF
− OpEx
−$5.9K −$5.95/SF
NOI
$13.7K $13.88/SF
Area
Kendall 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%
$274,280
Cap Rate 7%
$195,914
Cap Rate 9%
$152,378
Alternative Uses
Best Use
Retail
$195.9K
$171.4K – $228.6K
NOI $13,714 @ 7.0% cap · market cap 5.49%
Second Best
Office B
$194.6K
$170.3K – $227.1K
NOI $13,623 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$341.1K
$298.5K – $398.0K
NOI $23,878 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
379
Businesses Nearby
Explore this area
Business Placement
Demographics for 60545, IL
13,888
Population
4,982
Households
2.8
Avg Household Size
34
Median Age
27%
College-Educated
93%
High-School Grad
36.6 sq mi
ZIP Area
379
Density / Sq Mi
$84,920
Median Household Income
$47,134
Median Earnings
$1,571
Median Rent
$235,500
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?
Office units - Professional commercial space includes private offices, a conference room, reception area, and one bathroom.
Where is this office units located?
The property is located at 308 South St E Plano, IL.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Office configuration with reception and common area; Private office space and conference room; One bathroom
