Flex Space with Heated Manufacturing
For Sale
$795,000
1801 Griswold Avenue, Sterling, IL 61081
A fenced 5.35-acre site pairs office and workroom space with heated storage and manufacturing space.
Property Size10,780 SF
Lot Size5.35 Acres
Price / SF$73.75
Days on Market349
Property Features for 1801 Griswold Avenue
General Information
Standard status
Active
Size
10,780 SF
Lot size
5.35 Acres
Property subtype
Commercial
Zoning
COMMR
Warehouse & Industrial
Warehouse Space
7,560 SF
Office Build-Out
3,220 SF
Additional Details
Fenced Yard
Yes
Property Use
Storage/Manufacturing
Taxes and HOA fees
Annual Taxes
$4,166
Building Details
Building Size
10,780 SF
Year Built
2008
Year Renovated
2021
Stories
1
Units
2
Listing Agency:
RE/MAX Sauk Valley
Listed By:
Tim McCaslin · License #471002068
(815) 625-3722
Source:
Gogginrealestate
Added: Nov 17, 2025
Changed: Oct 31
Last Checked: Oct 31 at 2:19PM
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 RE/MAX Sauk Valley
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 10,780-square-foot flex property, built in 2008, includes 3,220 square feet of office and workroom area alongside 7,560 square feet of heated storage and manufacturing space. The industrial area has 10-foot concrete floors and a 12-foot door. The main roof was replaced in 2021.
The building sits on a fenced 5.35-acre site at 1801 Griswold Avenue in Sterling, Illinois.
The building sits on a fenced 5.35-acre site at 1801 Griswold Avenue in Sterling, Illinois.
Key Highlights
- 10,780‑square‑foot flex building constructed in 2008
- 3,220 square feet of office and workroom space
- 7,560 square feet of heated storage and manufacturing area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,943
Cap Rate
8.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,298,860
$1.3M
Cap Rate 7%
$927,757
$927.8K
Cap Rate 9%
$721,589
$721.6K
Market Conditions
NOI Build-Up for 10,780 SF
Gross rent
$80.9K $7.50/SF
− Vacancy
−$4.4K −$0.41/SF
EGI
$76.4K $7.09/SF
− OpEx
−$11.5K −$1.06/SF
NOI
$64.9K $6.02/SF
Area
Whiteside County, IL
Vacancy
5.50%
Lease Rate
$7.50 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,298,860
Cap Rate 7%
$927,757
Cap Rate 9%
$721,589
Alternative Uses
Best Use
Flex RnD
$1.21M
$1.06M – $1.41M
NOI $84,454 @ 7.0% cap · market cap 10.62%
Second Best
Warehouse
$927.8K
$811.8K – $1.08M
NOI $64,943 @ 7.0% cap · market cap 8.17%
Theoretical Best
Specialty Retail
$2.02M
$1.76M – $2.35M
NOI $141,164 @ 7.0% cap · market cap 17.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 61081, IL
21,064
Population
9,753
Households
2.2
Avg Household Size
43
Median Age
20%
College-Educated
91%
High-School Grad
124.4 sq mi
ZIP Area
169
Density / Sq Mi
$60,854
Median Household Income
$40,497
Median Earnings
$791
Median Rent
$121,000
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
Similar Off Market Nearby
- Creative Cuisine Catering — 1741 Industrial Dr # 24, Sterling, IL 61081
Frequently Asked Questions
What type of property is this?
Flex space - A fenced 5.35-acre site pairs office and workroom space with heated storage and manufacturing space.
Where is this flex space located?
The property is located at 1801 Griswold Avenue Sterling, IL.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 10,780‑square‑foot flex building constructed in 2008; 3,220 square feet of office and workroom space; 7,560 square feet of heated storage and manufacturing area
