Building Details

Year Built 2006

Year Renovated 2022

Tenancy Single

Listing Agency: SURMOUNT

Listed By: Glen Kunofsky · License #NY 49KU1129178 Show Phone

Source: Crexi

Added: Jun 16 Changed: Sep 21 Last Checked: Oct 4 at 9:57AM

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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 SURMOUNT

Investment Insights

Based on property information with market context.

This offering features a Basin Industries property with approximately 37,717 rentable square feet of industrial building space on an estimated 9.85-acre parcel. The asset is being marketed as an NNN investment, with a lease structure in place that aligns with net-lease ownership expectations.

The property is located at 1503 West Front Street in Roanoke, IL 61561. Per the public remarks, the 20-year Triple Net (NNN) lease is set to commence upon close of escrow, establishing the timeline for when the landlord’s lease obligations begin under the agreement.

From an ownership standpoint, the lease terms call for an initial annual rent of $260,247, with scheduled 2.00% annual increases. The remaining lease profile is therefore designed to provide predictable contractual rent escalations over the term, subject to the terms of the executed NNN lease and the commencement at closing.

Key Highlights

• 2006‑built industrial warehouse property with 37,717 rentable SF on an estimated 9.85‑acre parcel
• 20‑year Triple Net (NNN) lease in place with Basin Industries
• Lease term will commence upon close of escrow

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$275,551

Cap Rate

7.94%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,511,020 $5.5M

Cap Rate 7%

$3,936,443 $3.9M

Cap Rate 9%

$3,061,678 $3.1M

Market Conditions

NOI Build-Up for 37,717 SF

Gross rent

$339.5K $9.00/SF

− Vacancy

−$15.3K −$0.41/SF

EGI

$324.2K $8.59/SF

− OpEx

−$48.6K −$1.29/SF

NOI

$275.6K $7.31/SF

Area

Woodford County, IL

Vacancy

4.50%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,511,020

Cap Rate 7%

$3,936,443

Cap Rate 9%

$3,061,678

Alternative Uses

Best Use

Warehouse

$3.94M

$3.44M – $4.59M (±1% cap)

NOI $275,551 @ 7.0% cap · market cap 7.94%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$32.99M

$28.87M – $38.49M (±1% cap)

NOI $2,309,613 @ 7.0% cap · market cap 66.56%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Open Analytics

Current Use

GEM Equipment & Manufacturing, ... Metal Fabrication Plant Gingrich Enterprises Inc ... Fabrication Engineer

Suggested Use

Top Pick Building Supply Parking Lot & Garage Dental Office Electrical Service Real Estate Agency Big Box & Wholesale Store

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

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

33

Businesses Nearby

Explore this area Business Placement

Demographics for 61561, IL

2,610

Population

958

Households

2.7

Avg Household Size

43

Median Age

25%

College-Educated

95%

High-School Grad

56.3 sq mi

ZIP Area

46

Density / Sq Mi

$77,143

Median Household Income

$50,038

Median Earnings

$1,091

Median Rent

$150,400

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

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

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

Frequently Asked Questions

What type of property is this?

NNN property - Long-term NNN lease covers a large industrial warehouse on a multi-acre parcel in Roanoke, IL.

Where is this nnn property located?

The property is located at 1503 West Front Street Roanoke, IL.

What is the asking price?

The asking price for this property is $3,469,964.

What are key features of this property?

This property features: 2006‑built industrial warehouse property with 37,717 rentable SF on an estimated 9.85‑acre parcel; 20‑year Triple Net (NNN) lease in place with Basin Industries; Lease term will commence upon close of escrow