Industrial Flex Warehouse
For Sale
$550,000
2112 Ferry Road 111, Naperville, IL 60563
For sale flex-style warehouse condo with convenient access via Route 59 and nearby I-88.
Property Size1,476 SF
Days on Market94
Property Features for 2112 Ferry Road 111
General Information
Standard status
Active
Size
1,476 SF
Zoning
INDUS
Taxes and HOA fees
Annual Taxes
$5,846
Amenities
Central Air, Heat Pump
Building Details
Building Size
1,476 SF
Year Built
2022
Stories
2
Listing Agency:
eXp Realty
(630) 514-4306
Listed By:
Lee Ernst · License #475112181
(630) 514-4306
Source:
Evrealestate
Added: May 20
Changed: Aug 21
Last Checked: Aug 21 at 5:16AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This offering is an industrial flex-style warehouse condo unit within Iron Gate Motor Condos at 2112 Ferry Road. The property is presented as part of a warehouse/industrial condominium setup, suited to users looking for a dedicated unit for storage and light industrial needs.
Access is described from I-88 by driving north on Route 59, then turning west on Ferry Road to Iron Gate Motor Condos. The listing is located in DuPage County.
As a condominium unit, this space may be a workable fit for owner-occupants or buyers seeking a specific industrial unit rather than a full building. Prospective tenants and buyers can evaluate the unit’s configuration and fit for their intended operations, with the convenience of straightforward routing from I-88 via Route 59 and Ferry Road.
Access is described from I-88 by driving north on Route 59, then turning west on Ferry Road to Iron Gate Motor Condos. The listing is located in DuPage County.
As a condominium unit, this space may be a workable fit for owner-occupants or buyers seeking a specific industrial unit rather than a full building. Prospective tenants and buyers can evaluate the unit’s configuration and fit for their intended operations, with the convenience of straightforward routing from I-88 via Route 59 and Ferry Road.
Key Highlights
- Central Air and heat pump HVAC
- Built in 2022
- Located in DuPage County (Iron Gate Motor Condos)
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
$20,878
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
3.80%
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%
$417,560
$417.6K
Cap Rate 7%
$298,257
$298.3K
Cap Rate 9%
$231,978
$232.0K
Market Conditions
NOI Build-Up for 1,476 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
$26.2K $17.76/SF
− Vacancy
−$1.7K −$1.12/SF
EGI
$24.6K $16.64/SF
− OpEx
−$3.7K −$2.50/SF
NOI
$20.9K $14.14/SF
Area
Naperville, IL
Vacancy
6.30%
Lease Rate
$17.76 /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%
$417,560
Cap Rate 7%
$298,257
Cap Rate 9%
$231,978
Alternative Uses
Best Use
Warehouse
$298.3K
$261.0K – $348.0K
NOI $20,878 @ 7.0% cap · market cap 3.80%
Second Best
Industrial
$215.3K
$188.4K – $251.2K
NOI $15,070 @ 7.0% cap · market cap 2.74%
Theoretical Best
Office A
$333.2K
$291.5K – $388.7K
NOI $23,322 @ 7.0% cap · market cap 4.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
455
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60563, IL
37,997
Population
16,911
Households
2.2
Avg Household Size
38
Median Age
66%
College-Educated
96%
High-School Grad
14.6 sq mi
ZIP Area
2,603
Density / Sq Mi
$106,207
Median Household Income
$71,782
Median Earnings
$1,786
Median Rent
$422,900
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Iron Gate Motor Condos — 2112 Ferry Rd #101, Naperville, IL 60563
- Public Storage — 2323 W Diehl Rd, Naperville, IL 60563
- Near2Me Storage Units — 1612 wall st, naperville, il 60563
Frequently Asked Questions
What type of property is this?
Warehouse - For sale flex-style warehouse condo with convenient access via Route 59 and nearby I-88.
Where is this warehouse located?
The property is located at 2112 Ferry Road 111 Naperville, IL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Central Air and heat pump HVAC; Built in 2022; Located in DuPage County (Iron Gate Motor Condos)
