Automotive Service Center For
For Sale
$1,250,000
23846 W 135th St, Plainfield, IL 60544
Established automotive service center with net lease and annual increases.
Property Size3,900 SF
Price / SF$320.51
Days on Market272
Property Features for 23846 W 135th St
General Information
Standard status
Active
Size
3,900 SF
Property subtype
Retail
Building Details
Building Size
3,900 SF
Year Built
2004
Listing Agency:
SVN | Landmark Commercial Real Estate
(616) 566-5790
Listed By:
David De Maagd, CPA, MBA · License #471012919
(616) 566-5790
Source:
Svn
Added: Nov 21, 2025
Changed: Aug 16
Last Checked: Aug 20 at 5:25AM
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 SVN | Landmark Commercial Real Estate
Investment Insights
Based on property information with market context.
This automotive service center is located in the SW suburbs of Chicago in Plainfield, on 135th St near the intersection with Route 59. The property is situated on a Menard's outlot within a busy commercial corridor surrounded by national retailers, including Menards, Wendy's, and Dunkin Donuts. The Tuffy Auto Service Center has been in operation for over 20 years, built-to-suit in 2004. It features 6 service bays and operates under a net lease with 2% annual increases. The operator is a multi-unit franchisee. The property has over 3.5 years of lease term remaining. Tuffy Tire & Auto Service Centers is a chain of franchise and company-owned automotive service centers headquartered in Toledo, Ohio. The property is suitable for auto shops, automotive properties, and retail properties. The building size is 3,900 square feet.
Key Highlights
- Net lease property with 2% annual increases
- Longstanding operation (20+ years) in place since 2004
- Located on a Menard's outlot in high‑traffic commercial corridor
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
$36,855
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
2.95%
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%
$737,100
$737.1K
Cap Rate 7%
$526,500
$526.5K
Cap Rate 9%
$409,500
$409.5K
Market Conditions
NOI Build-Up for 3,900 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
$58.5K $15.00/SF
− Vacancy
−$5.9K −$1.50/SF
EGI
$52.7K $13.50/SF
− OpEx
−$15.8K −$4.05/SF
NOI
$36.9K $9.45/SF
Area
Will County, IL
Vacancy
10.00%
Lease Rate
$15.00 /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%
$737,100
Cap Rate 7%
$526,500
Cap Rate 9%
$409,500
Alternative Uses
Best Use
Retail
$526.5K
$460.7K – $614.3K
NOI $36,855 @ 7.0% cap · market cap 2.95%
Second Best
Industrial
$239.8K
$209.9K – $279.8K
NOI $16,788 @ 7.0% cap · market cap 1.34%
Theoretical Best
Office A
$884.5K
$774.0K – $1.03M
NOI $61,916 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
450
Businesses Nearby
303k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 44%
Shops & Services 24%
Dining 15%
Home Improvements & Furnishings 12%
Meijer
Groceries
66,572 visits/mo
0.2 miles
Jewel-Osco
Groceries
44,348 visits/mo
0.4 miles
Menards
Home Improvements & Furnishings
35,513 visits/mo
0.1 miles
Aldi
Groceries
21,337 visits/mo
0.5 miles
Culver's
Dining
18,104 visits/mo
0.2 miles
Demographics for 60544, IL
27,680
Population
10,553
Households
2.6
Avg Household Size
41
Median Age
43%
College-Educated
96%
High-School Grad
24.2 sq mi
ZIP Area
1,144
Density / Sq Mi
$108,447
Median Household Income
$59,601
Median Earnings
$1,809
Median Rent
$311,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Established automotive service center with net lease and annual increases.
Where is this auto shop located?
The property is located at 23846 W 135th St Plainfield, IL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Net lease property with 2% annual increases; Longstanding operation (20+ years) in place since 2004; Located on a Menard's outlot in high‑traffic commercial corridor
