Building Details

Year Built 2016

Listing Agency: Coldwell Banker Real Estate Group

Listed By: Jana Hester Show Phone

Source: Theluxliferealty

Added: Sep 1 Changed: Oct 8 Last Checked: Oct 7 at 5:48PM

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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 Coldwell Banker Real Estate Group

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Investment Insights

Based on property information with market context.

This 1,413-square-foot flex space in the Iron Gate community is configured for vehicle storage, collections, and recreational use. Built in 2016, the property includes a garage-level area with radiant floor heating, an epoxy-coated floor, floor drain, custom slop sink with hose reel, refrigerator, and storage. Natural light enters through a window above the entrance and a second window integrated into the door.

An upstairs mezzanine adds 14' of space for entertaining or additional storage. The property is located at 2228 Ferry Rd Unit 113 in Naperville, Illinois, and the Iron Gate community hosts scheduled summer social events for its residents or owners.

Key Highlights

• 1,413‑square‑foot flex space built in 2016
• Additional 14' mezzanine space for storage or entertaining
• Garage level includes radiant floor heating and epoxy‑coated flooring

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$19,987

Cap Rate

4.30%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$399,740 $399.7K

Cap Rate 7%

$285,529 $285.5K

Cap Rate 9%

$222,078 $222.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,413 SF

Gross rent

$25.1K $17.76/SF

− Vacancy

−$1.6K −$1.12/SF

EGI

$23.5K $16.64/SF

− OpEx

−$3.5K −$2.50/SF

NOI

$20.0K $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 Rate 5%

$399,740

Cap Rate 7%

$285,529

Cap Rate 9%

$222,078

Alternative Uses

Best Use

Warehouse

$285.5K

$249.8K – $333.1K (±1% cap)

NOI $19,987 @ 7.0% cap · market cap 4.30%

Second Best

Industrial

$206.1K

$180.3K – $240.5K (±1% cap)

NOI $14,427 @ 7.0% cap · market cap 3.10%

Theoretical Best

Office A

$318.9K

$279.1K – $372.1K (±1% cap)

NOI $22,326 @ 7.0% cap · market cap 4.80%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Dental Office Auto Repair Shop Pharmacy Furniture & Home Goods Grocery & Convenience Store Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Specialized flex space combines vehicle storage, workshop features, and an entertaining area within the Iron Gate community.

Where is this flex space located?

The property is located at 2228 Ferry Rd Unit 113 Naperville, IL.

What is the asking price?

The asking price for this property is $465,000.

What are key features of this property?

This property features: 1,413‑square‑foot flex space built in 2016; Additional 14' mezzanine space for storage or entertaining; Garage level includes radiant floor heating and epoxy‑coated flooring