Unanchored Neighborhood Shopping
For Sale
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1501-1505 N Mannheim Rd, Stone Park, IL 60165
B-1, General Commercial District zoning with food and beverage, office, and apartment components.
Property Size14,844 SF
Price / SF$368.50
Days on Market9
Property Features for 1501-1505 N Mannheim Rd
General Information
Standard status
Active
Size
14,844 SF
Total Parking Spaces
45
Property subtype
Retail
Zoning
B-1, General Commercial District
Occupancy
100%
Net Operating Income
$383,074
Building Details
Year Built
2017
Year Renovated
2025
Buildings
3
Tenancy
Multi
Listing Agency:
Mid-America Real Estate Corporation
Listed By:
Emily Gadomski · License #475173675
Source:
Crexi
Added: Aug 3
Changed: Aug 11
Last Checked: Aug 11 at 6:21AM
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 Mid-America Real Estate Corporation
Investment Insights
Based on property information with market context.
Mannheim Plaza is an unanchored neighborhood shopping center completed in 2017. The property is 100% leased and includes a tenant mix of food and beverage businesses, a long-term office tenant, and an apartment unit. The offering conveys the 100% fee simple interest in the property.
The center is located at 1501-1505 N Mannheim Rd in Stone Park, Illinois. Zoning is B-1, General Commercial District, supporting the property’s commercial classification and existing neighborhood retail format.
The center is located at 1501-1505 N Mannheim Rd in Stone Park, Illinois. Zoning is B-1, General Commercial District, supporting the property’s commercial classification and existing neighborhood retail format.
Key Highlights
- 100% leased unanchored neighborhood shopping center
- 100% fee simple interest offered
- Built in 2017
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
$250,493
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
4.58%
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%
$5,009,860
$5.0M
Cap Rate 7%
$3,578,471
$3.6M
Cap Rate 9%
$2,783,256
$2.8M
Market Conditions
NOI Build-Up for 14,844 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
$445.3K $30.00/SF
− Vacancy
−$44.5K −$3.00/SF
EGI
$400.8K $27.00/SF
− OpEx
−$150.3K −$10.13/SF
NOI
$250.5K $16.88/SF
Area
Cook County, IL
Vacancy
10.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$5,009,860
Cap Rate 7%
$3,578,471
Cap Rate 9%
$2,783,256
Alternative Uses
Best Use
Mixed Use
$3.58M
$3.13M – $4.17M
NOI $250,493 @ 7.0% cap · market cap 4.58%
Second Best
Retail
$2.94M
$2.58M – $3.43M
NOI $206,037 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$5.12M
$4.48M – $5.98M
NOI $358,747 @ 7.0% cap · market cap 6.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
685
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60165, IL
4,576
Population
1,364
Households
3.4
Avg Household Size
33
Median Age
8%
College-Educated
58%
High-School Grad
0.3 sq mi
ZIP Area
15,253
Density / Sq Mi
$75,165
Median Household Income
$34,744
Median Earnings
$1,222
Median Rent
$218,300
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?
Shopping center - B-1, General Commercial District zoning with food and beverage, office, and apartment components.
Where is this shopping center located?
The property is located at 1501-1505 N Mannheim Rd Stone Park, IL.
What is the asking price?
The asking price for this property is $5,470,000.
What are key features of this property?
This property features: 100% leased unanchored neighborhood shopping center; 100% fee simple interest offered; Built in 2017
