Industrial Flex Space with Overhead
For Sale
$365,000
25885 S Ridgeland Avenue #8, Monee, IL 60449
Heated flex unit with a washroom and access to established industrial development near I-57.
Property Size18,000 SF
Price / SF$94.88
Days on Market10
Property Features for 25885 S Ridgeland Avenue #8
General Information
Standard status
Active
Size
18,000 SF
Property subtype
Commercial
Zoning
INDUS
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,828
Building Details
Building Size
18,000 SF
Year Built
2002
Stories
1
Listing Agency:
Real People Realty
(708) 253-8996
Listed By:
Lee Throw
Source:
Jjillrealtygroup
Added: Aug 21
Changed: Aug 29
Last Checked: Aug 25 at 9:20AM
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 Real People Realty
Investment Insights
Based on property information with market context.
This 3,847-square-foot flex unit was built in 2000 and includes heat, a washroom, and two overhead doors. The space has been used for storage for the past 8 years, providing an existing industrial configuration for continued storage or other operational needs supported by the layout.
The property is less than 3 miles from I-57 and less than 1 mile south of the Amazon Fulfillment Center. New industrial complexes to the north and south contain more than 3 million square feet combined, placing the unit within an expanding industrial setting. Its physical features and proximity to major distribution facilities support consideration for storage, contractor operations, logistics-related use, prototyping, research and development, or assembly activities described for the property.
The property is less than 3 miles from I-57 and less than 1 mile south of the Amazon Fulfillment Center. New industrial complexes to the north and south contain more than 3 million square feet combined, placing the unit within an expanding industrial setting. Its physical features and proximity to major distribution facilities support consideration for storage, contractor operations, logistics-related use, prototyping, research and development, or assembly activities described for the property.
Key Highlights
- 3,847‑square‑foot industrial flex unit
- Two overhead doors with heat and a washroom
- Built in 2000; used for storage for the past 8 years
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
$20,109
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
5.51%
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%
$402,180
$402.2K
Cap Rate 7%
$287,271
$287.3K
Cap Rate 9%
$223,433
$223.4K
Market Conditions
NOI Build-Up for 3,847 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
$24.9K $6.48/SF
− Vacancy
−$1.3K −$0.33/SF
EGI
$23.7K $6.15/SF
− OpEx
−$3.5K −$0.92/SF
NOI
$20.1K $5.23/SF
Area
Will County, IL
Vacancy
5.10%
Lease Rate
$6.48 /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%
$402,180
Cap Rate 7%
$287,271
Cap Rate 9%
$223,433
Alternative Uses
Best Use
Warehouse
$287.3K
$251.4K – $335.2K
NOI $20,109 @ 7.0% cap · market cap 5.51%
Second Best
Flex RnD
$258.6K
$226.3K – $301.7K
NOI $18,101 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$872.5K
$763.4K – $1.02M
NOI $61,075 @ 7.0% cap · market cap 16.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
138
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60449, IL
8,961
Population
3,752
Households
2.4
Avg Household Size
45
Median Age
31%
College-Educated
92%
High-School Grad
49.2 sq mi
ZIP Area
182
Density / Sq Mi
$101,563
Median Household Income
$60,924
Median Earnings
$269,900
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Heated flex unit with a washroom and access to established industrial development near I-57.
Where is this flex space located?
The property is located at 25885 S Ridgeland Avenue #8 Monee, IL.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 3,847‑square‑foot industrial flex unit; Two overhead doors with heat and a washroom; Built in 2000; used for storage for the past 8 years
