Westchester Retail/Auto Shop
For Sale
$1,500,000
2150 S Mannheim Rd, Westchester, IL
9,950 SF property suitable for retail or auto shop.
Property Size9,950 SF
Price / SF$150.75
Days on Market361
Property Features for 2150 S Mannheim Rd
General Information
Standard status
Active
Size
9,950 SF
Taxes and HOA fees
Annual Taxes
$31,238
Listing Agency:
Avenue 1 Realty Group
(708) 250-5882
Listed By:
William Pileggi · License #475164218
(708) 250-5882
Source:
Exprealty
Added: Aug 29, 2025
Changed: Aug 23
Last Checked: Jul 31 at 5:33PM
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 Avenue 1 Realty Group
Investment Insights
Based on property information with market context.
This 9,950 square foot property is suitable for retail or automotive businesses. Located in Westchester, Illinois, the property presents a commercial real estate opportunity for prospective buyers.
Key Highlights
- 9,950 SF property suitable for retail or auto shop.
- Year Built: 1950
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
$115,340
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
7.69%
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%
$2,306,800
$2.3M
Cap Rate 7%
$1,647,714
$1.6M
Cap Rate 9%
$1,281,556
$1.3M
Market Conditions
NOI Build-Up for 9,950 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
$179.1K $18.00/SF
− Vacancy
−$14.3K −$1.44/SF
EGI
$164.8K $16.56/SF
− OpEx
−$49.4K −$4.97/SF
NOI
$115.3K $11.59/SF
Area
Springfield, IL
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,306,800
Cap Rate 7%
$1,647,714
Cap Rate 9%
$1,281,556
Alternative Uses
Best Use
Retail
$1.65M
$1.44M – $1.92M
NOI $115,340 @ 7.0% cap · market cap 7.69%
Second Best
Industrial
$850.7K
$744.4K – $992.5K
NOI $59,551 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$2.44M
$2.14M – $2.85M
NOI $171,005 @ 7.0% cap · market cap 11.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,767
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Firestone Complete Auto Care — 407 S 6th St, Springfield, IL 62701
- A Cheap Tire — 1300 E Cook St, Springfield, IL 62703
- MGT Films - Springfield, Illinois — 411 E Monroe St #5481, Springfield, IL 62705
- Jack Stoldt Auto Services Center — 717 S 5th St, Springfield, IL 62703
- New Generation Auto Care — 901 E Cook St, Springfield, IL 62703
Frequently Asked Questions
What type of property is this?
Auto shop - 9,950 SF property suitable for retail or auto shop.
Where is this auto shop located?
The property is located at 2150 S Mannheim Rd Westchester, IL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 9,950 SF property suitable for retail or auto shop.; Year Built: 1950
