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    Pearl City Self-Storage Investment Title is generated by Realmo AI

    200-208 E North Street, Pearl City, IL 61062

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    For Sale
    $180,000

    COMMERCIAL - PEARL CITY, IL

    Property size:
    11,936 SF
    Lot size:
    2.49 Acres
    Price / SF:
    $15/SF
    Added:
    Sep 12, 2025
    Days on Market:
    260
    Last Refresh:
    May 29 at 4:06 pm

    Property Features for 200-208 E North Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    1709152004
    Size
    11,936 SF
    Lot size
    2.49 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    5087

    Building Details

    Flooring type
    Concrete
    Roof type
    Shingle, Metal

    We can help!

    Listing Contact
    Nick Block
    Nick Block

    Listing agent Nick Block License #471022402

    Listing office Fawn Ridge Real Estate Co. 3-203 ASSOCIATION DRIVE, Lake Carroll, IL

    Listing date Sep 12, 2025

    MLS# 202505607

    Copyright © 2026 NorthWest Illinois Alliance of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High occupancy rate (96%) indicates strong demand.
    • Opportunity for revenue growth by adjusting rental rates.
    • Expansion capacity on 2.5 acres allows for future development.
    • Stabilized, income‑producing asset with immediate upside potential.
    • Recent capital improvements ensure operational functionality.
    • Four buildings containing 27 rentable units with approximately 11,936 square feet of covered storage space.

    Overview

    This self-storage property in Pearl City, Illinois, features four buildings with 27 rentable units, offering approximately 11,936 square feet of covered storage space on 2.5 acres of land. The unit mix includes 22 units at approximately 250 square feet each (10x25) and 5 larger units housed in two additional buildings. The site offers expansion capacity for developing additional buildings. Currently operating at 96% occupancy, the facility's rental rates are below current market averages, presenting an opportunity for revenue growth. The buildings have been regularly maintained to ensure operational functionality and protection from weather conditions. Recent capital improvements include a new overhead door on a large unit in 2025 and a roller door replacement on a smaller unit in 2024. Steel roofs have been installed on the larger buildings within the last five years. The property's larger buildings (five units) are located within an AE Flood Zone. This offering presents investors with a stabilized income-producing asset, immediate upside potential through rental rate adjustments and marketing outreach, and future scalability through land development opportunities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Self storage facilities

    Suggested Use

    Building Supply Big Box & Wholesale Store Auto Repair Shop Kitchen & Bath Showroom HVAC Service Bar & Pub Grocery & Convenience Store Daycare Center Plumbing Service (Bike/Boat/Book/etc) Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pearl City
    County
    Stephenson
    State
    Illinois
    Longitude
    -89.824194
    Latitude
    42.26638

    FAQs

    What type of property is this?
    Self storage facility - Self-storage facility with expansion potential in Pearl City, Illinois.
    Where is this self storage facility located?
    The property is located at 200-208 E North Street Pearl City, IL.
    What is the asking price?
    The asking price for this property is $180,000.
    What are key features of this property?
    This property features: High occupancy rate (96%) indicates strong demand.; Opportunity for revenue growth by adjusting rental rates.; Expansion capacity on 2.5 acres allows for future development.
    (815) 906-1701
    We can help!
    Listing Contact
    Nick Block
    Nick Block
    Real Estate License ID: 471022402
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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