Remodeled Four-Bay Flex
For Sale
$349,900
16800 State St, South Holland, IL 60473
Two-level layout combines shop, office, storage, lobby, and restroom areas.
Property Size2,700 SF
Price / SF$129.59
Days on Market388
Property Features for 16800 State St
General Information
Standard status
Active
Size
2,700 SF
Property subtype
Commercial
Additional Details
Service Bays
4
Amenities
overhead doors
lobby
office
restrooms
utility/storage area
parking
Building Details
Year Built
1959
Buildings
1
Stories
2
Listing Agency:
Infiniti Properties, Inc.
Listed By:
Abdullah Jubeh · License #475208832
(708) 206-3000
Source:
Searchillinoishomesforsale
Added: Sep 22, 2025
Changed: Oct 10
Last Checked: Oct 12 at 8:37PM
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 Infiniti Properties, Inc.
Investment Insights
Based on property information with market context.
This recently remodeled flex property provides 2,700 square feet across a practical two-level configuration. The first floor includes a 29' x 58' shop, lobby, private office, and two restrooms. Four bays are served by four overhead doors, including one measuring 12' x 10' and three measuring 10' x 10'.
The upper level adds another office and a utility/storage area with access from both the shop and the first-floor office. Parking extends along three sides of the building. Built in 1959, the property’s layout supports a range of commercial applications identified in the listing, including automotive, delivery, medical, retail, and small-warehouse operations.
The upper level adds another office and a utility/storage area with access from both the shop and the first-floor office. Parking extends along three sides of the building. Built in 1959, the property’s layout supports a range of commercial applications identified in the listing, including automotive, delivery, medical, retail, and small-warehouse operations.
Key Highlights
- 2,700 SF recently remodeled flex property
- Four bays with four overhead doors: one 12' x 10' and three 10' x 10'
- First‑floor 29' x 58' shop area with lobby, office, and two restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,431
Cap Rate
8.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$568,620
$568.6K
Cap Rate 7%
$406,157
$406.2K
Cap Rate 9%
$315,900
$315.9K
Market Conditions
NOI Build-Up for 2,700 SF
Gross rent
$48.6K $18.00/SF
− Vacancy
−$4.9K −$1.80/SF
EGI
$43.7K $16.20/SF
− OpEx
−$15.3K −$5.67/SF
NOI
$28.4K $10.53/SF
Area
Cook 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%
$568,620
Cap Rate 7%
$406,157
Cap Rate 9%
$315,900
Alternative Uses
Best Use
Retail
$535.4K
$468.5K – $624.6K
NOI $37,476 @ 7.0% cap · market cap 10.71%
Second Best
Flex RnD
$406.2K
$355.4K – $473.9K
NOI $28,431 @ 7.0% cap · market cap 8.13%
Theoretical Best
Office A
$932.2K
$815.7K – $1.09M
NOI $65,253 @ 7.0% cap · market cap 18.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Open Analytics
Current Use
Lease Details
4
Service bays
Location Intelligence
Trade Area within ½ mile
407
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60473, IL
21,661
Population
7,969
Households
2.7
Avg Household Size
43
Median Age
27%
College-Educated
92%
High-School Grad
7.8 sq mi
ZIP Area
2,777
Density / Sq Mi
$88,046
Median Household Income
$40,903
Median Earnings
$1,914
Median Rent
$200,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Two-level layout combines shop, office, storage, lobby, and restroom areas.
Where is this flex space located?
The property is located at 16800 State St South Holland, IL.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 2,700 SF recently remodeled flex property; Four bays with four overhead doors: one 12' x 10' and three 10' x 10'; First‑floor 29' x 58' shop area with lobby, office, and two restrooms
