Flex Space with Drive-In
For Sale
$374,900
22 Kettle River Drive B, Glen Carbon, IL 62034
Combined shop and office layout with tall ceilings, parking, and access to electric drive-in doors.
Property Size2,720 SF
Lot Size0.70 Acres
Price / SF$137.83
Days on Market12
Property Features for 22 Kettle River Drive B
General Information
Standard status
Active
Size
2,720 SF
Total Parking Spaces
18
Lot size
0.70 Acres
Warehouse & Industrial
Clear Height
14 ft
Office Build-Out
968 SF
Drive-In Doors
2
Additional Details
Highway Access
Yes
Amenities
floor drains with oil separators
shop sink
wired for a high end security system
2 electric drive-in doors
14' tall ceilings
Building Details
Year Built
2001
Building Size
2,720 SF
Listing Agency:
Fusion Realty, LLC
(618) 781-9170
Listed By:
Kevin Wrigley · License #471003942
Source:
Nations-network
Added: Aug 19
Changed: Aug 29
Last Checked: Aug 29 at 9:55PM
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 Fusion Realty, LLC
Investment Insights
Based on property information with market context.
This flex property combines warehouse and office functions within 2,720 SF, including approximately 968 SF of office area. The shop space features 14-foot ceilings, two electric drive-in doors measuring 12' x 12' each, floor drains with oil separators, and a shop sink. The building is also wired for a high-end security system and includes roughly 18 parking spaces.
Built in 2001, the property sits on 0.70 acres in a business and industrial park setting in Glen Carbon. It is located just off Hwy 159 and is configured for operations requiring both workspace and administrative areas. The layout may also accommodate gym-type use, supported by the tall interior clearance.
Built in 2001, the property sits on 0.70 acres in a business and industrial park setting in Glen Carbon. It is located just off Hwy 159 and is configured for operations requiring both workspace and administrative areas. The layout may also accommodate gym-type use, supported by the tall interior clearance.
Key Highlights
- 2,720 SF flex building with approximately 968 SF of office space
- 0.70‑acre site with roughly 18 parking spaces
- Two electric 12' x 12' drive‑in doors
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
$13,646
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
3.64%
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%
$272,920
$272.9K
Cap Rate 7%
$194,943
$194.9K
Cap Rate 9%
$151,622
$151.6K
Market Conditions
NOI Build-Up for 2,720 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
$16.5K $6.06/SF
− Vacancy
−$429 −$0.16/SF
EGI
$16.1K $5.90/SF
− OpEx
−$2.4K −$0.89/SF
NOI
$13.6K $5.02/SF
Area
Madison County, IL
Vacancy
2.60%
Lease Rate
$6.06 /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%
$272,920
Cap Rate 7%
$194,943
Cap Rate 9%
$151,622
Alternative Uses
Best Use
Office B
$615.5K
$538.6K – $718.1K
NOI $43,085 @ 7.0% cap · market cap 11.49%
Second Best
Warehouse
$194.9K
$170.6K – $227.4K
NOI $13,646 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$741.4K
$648.7K – $865.0K
NOI $51,898 @ 7.0% cap · market cap 13.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
2
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
612
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 62034, IL
14,665
Population
6,197
Households
2.4
Avg Household Size
39
Median Age
49%
College-Educated
97%
High-School Grad
13.7 sq mi
ZIP Area
1,070
Density / Sq Mi
$93,366
Median Household Income
$53,030
Median Earnings
$1,100
Median Rent
$274,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Super Trux Inc — 18 Dogwood Ln, Glen Carbon, IL 62034
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Frequently Asked Questions
What type of property is this?
Flex space - Combined shop and office layout with tall ceilings, parking, and access to electric drive-in doors.
Where is this flex space located?
The property is located at 22 Kettle River Drive B Glen Carbon, IL.
What is the asking price?
The asking price for this property is $374,900.
What are key features of this property?
This property features: 2,720 SF flex building with approximately 968 SF of office space; 0.70‑acre site with roughly 18 parking spaces; Two electric 12' x 12' drive‑in doors
