Triple Net Leased Industrial
For Sale
Contact for pricing
1503 West Front Street, Roanoke, IL 61561
Long-term NNN lease covers a large industrial warehouse on a multi-acre parcel in Roanoke, IL.
Property Size37,717 SF
Lot Size9.85 Acres
Price / SF$92
Days on Market66
Property Features for 1503 West Front Street
General Information
Standard status
Active
Size
37,717 SF
Lot size
9.85 Acres
Property subtype
Industrial
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$260,247
Additional Details
Business Included
Yes
Building Details
Year Built
2006
Year Renovated
2022
Tenancy
Single
Listing Agency:
SURMOUNT
(332) 345-4222
Listed By:
Edward Otocka · License #NY 10401298466
Source:
Crexi
Added: Jun 16
Changed: Aug 8
Last Checked: Aug 20 at 2:12PM
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.
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 = 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
$275,551
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
7.94%
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%
$5,511,020
$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
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
$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 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%
$5,511,020
Cap Rate 7%
$3,936,443
Cap Rate 9%
$3,061,678
Alternative Uses
Best Use
Warehouse
$3.94M
$3.44M – $4.59M
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
NOI $2,309,613 @ 7.0% cap · market cap 66.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
