Naperville Motor Condo with
For Sale
Contact for pricing
2112 West Ferry Road, Naperville, IL 60563
Two-story motor condo with garage and refined retreat.
Property Size1,476 SF
Price / SF$372.63
Days on Market95
Property Features for 2112 West Ferry Road
General Information
Standard status
Active
Size
1,476 SF
Total Parking Spaces
5
Property subtype
Industrial
Zoning
B-2
Investment Type
Owner/User
Building Details
Year Built
2022
Buildings
1
Stories
2
Units
1
Tenancy
Single
Listing Agency:
eXp Realty, LLC
(630) 514-4306
Listed By:
Lee Ernst · License #NRDS 377512759
Source:
Crexi
Added: May 19
Changed: Aug 8
Last Checked: Aug 8 at 7:23AM
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, LLC
Investment Insights
Based on property information with market context.
This two-story motor condo at Iron Gate offers a blend of function, finish, and lifestyle. Unit 111 is suitable for collectors, business owners, and enthusiasts seeking more than storage. The main level features a five-car garage with an epoxy floor, high ceilings, and room for lifts. The second floor includes a full kitchen with upscale cabinetry, premium counters, and quality finishes. An adjacent lounge area is suitable for relaxing, hosting, or creating a private office or club-style hangout. A full bathroom with high-end fixtures and tilework completes the upper level. Located in Naperville's gated motor condo community, this unit offers a lifestyle centered around craftsmanship, community, and automotive passion. The property size is 1476 square feet.
Key Highlights
- Pristine 5‑car garage with epoxy floor and high ceilings, suitable for lifts.
- Upscale second‑floor living space with full kitchen, lounge area, and full bathroom.
- Located in Naperville's premier gated motor condo community, Iron Gate.
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
Balanced
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
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Frequently Asked Questions
What type of property is this?
Flex space - Two-story motor condo with garage and refined retreat.
Where is this flex space located?
The property is located at 2112 West Ferry Road 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: Pristine 5‑car garage with epoxy floor and high ceilings, suitable for lifts.; Upscale second‑floor living space with full kitchen, lounge area, and full bathroom.; Located in Naperville's premier gated motor condo community, Iron Gate.
