Building Details

Building Size 29,670 SF

Year Built 1998

Year Renovated 2023

Tenancy Single

Listing Agency: Troy Companies

Listed By: Steve Cioromski Show Phone

Source: Troyrealtyltd

Added: Jun 25 Changed: Sep 11 Last Checked: Oct 5 at 5:13PM

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Investment Insights

Based on property information with market context.

Built in 1998, this flex property at 1851 Albright Rd in Montgomery, Illinois is occupied by a single tenant under an absolute NNN lease. Benetech Inc. has operated from the property since 2003, with the current lease extending through July 2030.

The lease provides two additional five-year renewal options following the initial term. Recent capital projects have been completed, including an office renovation finished in 2023. The property is being offered for sale as a leased flex asset with an established operating history.

Key Highlights

• 100% occupied by Benetech Inc. through July 2030
• Absolute NNN lease with two additional 5‑year renewal options
• Benetech Inc. has occupied the property since 2003

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$312,425

Cap Rate

8.39%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$6,248,500 $6.2M

Cap Rate 7%

$4,463,214 $4.5M

Cap Rate 9%

$3,471,389 $3.5M

Market Conditions

NOI Build-Up for 29,670 SF

Gross rent

$534.1K $18.00/SF

− Vacancy

−$53.4K −$1.80/SF

EGI

$480.7K $16.20/SF

− OpEx

−$168.2K −$5.67/SF

NOI

$312.4K $10.53/SF

Area

Kendall County, IL

Vacancy

10.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$6,248,500

Cap Rate 7%

$4,463,214

Cap Rate 9%

$3,471,389

Alternative Uses

Best Use

Flex RnD

$4.46M

$3.91M – $5.21M (±1% cap)

NOI $312,425 @ 7.0% cap · market cap 8.39%

Second Best

Warehouse

$2.22M

$1.94M – $2.58M (±1% cap)

NOI $155,088 @ 7.0% cap · market cap 4.16%

Theoretical Best

Office A

$10.24M

$8.96M – $11.95M (±1% cap)

NOI $717,059 @ 7.0% cap · market cap 19.25%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Benetech Investments Corporation Professional Services

Suggested Use

Top Pick Parking Lot & Garage Pharmacy Furniture & Home Goods HVAC Service Bakery Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

194

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 60538, IL

28,898

Population

10,729

Households

2.7

Avg Household Size

34

Median Age

25%

College-Educated

90%

High-School Grad

9.7 sq mi

ZIP Area

2,979

Density / Sq Mi

$92,064

Median Household Income

$47,559

Median Earnings

$1,845

Median Rent

$253,900

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Absolute NNN lease structure with occupancy secured through July 2030.

Where is this flex space located?

The property is located at 1851 Albright Rd Montgomery, IL.

What is the asking price?

The asking price for this property is $3,725,500.

What are key features of this property?

This property features: 100% occupied by Benetech Inc. through July 2030; Absolute NNN lease with two additional 5‑year renewal options; Benetech Inc. has occupied the property since 2003