Industrial Flex
For Sale
$700,000
241 Oswalt Avenue, Batavia, IL 60510
Commercial Sale, Batavia, IL
Property Size5,628 SF
Lot Size0.13 Acres
Price / SF$124.38
Days on Market47
Property Features for 241 Oswalt Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
INDUS
Directions
Off IL Rt 25, 1mi south of Wilson St in Batavia to Bond. East 1 block to Oswalt. 3.5 mi from I-88 at Rt 31
Subdivision
Batavia
Standard status
Active
APN
1227278016
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7140
Utilities
Utilities
Natural Gas Available
Cooling system
Central Air
Amenities
conference room/kitchen area
security system
Building Details
Year built
1991
Floors in Building
1
Number of units
6
Building materials
Brick
Listing Agency:
RE/MAX Professionals Select · RE/MAX International
(630) 904-6400
Listed By:
Jennifer Conte · License #471007847
(630) 904-6400
Added: Jul 13
Changed: Aug 19
Last Checked: Aug 28 at 11:06AM
MLS# 12702016
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5,628-square-foot flex condominium combines warehouse/work space with office and support areas in a 1991 brick building. The layout includes a conference room and kitchen area with a dishwasher hookup, three private restrooms, and water service in the warehouse. Two shared loading docks feature 14-foot-high overhead doors, while interior clear height ranges from approximately 10'4" to 10'8". Two recently serviced HVAC units, two water heaters, two electric accounts, and a 7-camera security system with 2K resolution and sound are included. A refrigerator approximately 1 year old is also part of the offering.
A 50-mil reinforced PVC roof was installed in March 2023, along with new gutters, downspouts, flashing, and roof penetrations; the roof carries a 20-year warranty. Association services include exterior and common-area maintenance, parking-area care, landscaping, and snow removal. The property is near Route 56 and Route 38, with I-88 approximately 4 miles away, and the condominium complex provides 36 common parking spaces.
A 50-mil reinforced PVC roof was installed in March 2023, along with new gutters, downspouts, flashing, and roof penetrations; the roof carries a 20-year warranty. Association services include exterior and common-area maintenance, parking-area care, landscaping, and snow removal. The property is near Route 56 and Route 38, with I-88 approximately 4 miles away, and the condominium complex provides 36 common parking spaces.
Key Highlights
- 5,628 SF flex condominium with warehouse, office, and support space
- Two shared loading docks with 14‑foot‑high overhead doors
- Approximately 10'4"-10'8" interior clear height
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
$37,194
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
5.31%
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%
$743,880
$743.9K
Cap Rate 7%
$531,343
$531.3K
Cap Rate 9%
$413,267
$413.3K
Market Conditions
NOI Build-Up for 5,628 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
$60.1K $10.68/SF
− Vacancy
−$2.9K −$0.51/SF
EGI
$57.2K $10.17/SF
− OpEx
−$20.0K −$3.56/SF
NOI
$37.2K $6.61/SF
Area
Kane County, IL
Vacancy
4.80%
Lease Rate
$10.68 /SF/Yr
Expense Ratio
35.00%
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%
$743,880
Cap Rate 7%
$531,343
Cap Rate 9%
$413,267
Alternative Uses
Best Use
Office B
$1.11M
$970.0K – $1.29M
NOI $77,601 @ 7.0% cap · market cap 11.09%
Second Best
Flex RnD
$531.3K
$464.9K – $619.9K
NOI $37,194 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$1.94M
$1.70M – $2.27M
NOI $136,016 @ 7.0% cap · market cap 19.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10 ft
Clear height
2
Dock-high doors
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
252
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60510, IL
28,156
Population
11,234
Households
2.5
Avg Household Size
42
Median Age
56%
College-Educated
97%
High-School Grad
24.4 sq mi
ZIP Area
1,154
Density / Sq Mi
$120,925
Median Household Income
$57,884
Median Earnings
$1,285
Median Rent
$363,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile warehouse and office configuration with shared loading access and dedicated business-support areas.
Where is this flex space located?
The property is located at 241 Oswalt Avenue Batavia, IL.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 5,628 SF flex condominium with warehouse, office, and support space; Two shared loading docks with 14‑foot‑high overhead doors; Approximately 10'4"-10'8" interior clear height
