Fenced Flex Property with Two
For Sale
$650,000
300 Washington Street, South Roxana, IL 62087
Secured commercial compound with dedicated shop, office, storage, and repair-oriented spaces.
Property Size5,400 SF
Lot Size3.50 Acres
Price / SF$120.37
Days on Market19
Property Features for 300 Washington Street
General Information
Standard status
Active
Size
5,400 SF
Lot size
3.50 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Additional Details
Office Build-Out
960 SF
Taxes and HOA fees
Annual Taxes
$2,119
Building Details
Year Built
1989
Buildings
2
Listing Agency:
Tarrant and Harman Real Estate and Auction Co
(618) 973-8481
Listed By:
John Hoefert · License #475.207904
Source:
Nesterrealty
Added: Aug 10
Changed: Aug 27
Last Checked: Aug 27 at 10:57PM
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 Tarrant and Harman Real Estate and Auction Co
Investment Insights
Based on property information with market context.
This flex property occupies approximately 3.5 acres and includes two shop buildings with attached office areas. The larger building measures 40'x66' with 48'x15' of office space, while the second measures 40'x45' with 20'x12' of office space. Each building includes through-and-through 14-foot bay doors, 9-inch-thick concrete garage bays, floor drains, 3-cell oil separators, bathrooms, and additional office or storage areas. Property improvements include updated electrical systems, explosion-proof lighting, plumbing fixtures, furnace and A/C service, exterior faucets, freeze plugs, and resealed roof fasteners.
The site is enclosed by fencing and accessed through an 18-foot electronically controlled gate. Its location at 300 Washington Street in South Roxana, Illinois, places the property within minutes of Interstates 255 and 270. The buildings were constructed in 1989 and are supported by open yard area suitable for storage, loading, and large-equipment service activities.
The site is enclosed by fencing and accessed through an 18-foot electronically controlled gate. Its location at 300 Washington Street in South Roxana, Illinois, places the property within minutes of Interstates 255 and 270. The buildings were constructed in 1989 and are supported by open yard area suitable for storage, loading, and large-equipment service activities.
Key Highlights
- Approximately 3.5+/- acre fenced and gated commercial property
- Two shop buildings with attached office areas and additional storage space
- Larger building: 40'x66' shop plus 48'x15' office space
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
$27,092
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
4.17%
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%
$541,840
$541.8K
Cap Rate 7%
$387,029
$387.0K
Cap Rate 9%
$301,022
$301.0K
Market Conditions
NOI Build-Up for 5,400 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
$32.7K $6.06/SF
− Vacancy
−$851 −$0.16/SF
EGI
$31.9K $5.90/SF
− OpEx
−$4.8K −$0.89/SF
NOI
$27.1K $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%
$541,840
Cap Rate 7%
$387,029
Cap Rate 9%
$301,022
Alternative Uses
Best Use
Warehouse
$387.0K
$338.7K – $451.5K
NOI $27,092 @ 7.0% cap · market cap 4.17%
Second Best
Industrial
$318.7K
$278.9K – $371.9K
NOI $22,311 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,032 @ 7.0% cap · market cap 15.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 62087, IL
1,887
Population
933
Households
2
Avg Household Size
37
Median Age
6%
College-Educated
86%
High-School Grad
3.5 sq mi
ZIP Area
539
Density / Sq Mi
$56,364
Median Household Income
$26,528
Median Earnings
$821
Median Rent
$87,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Secured commercial compound with dedicated shop, office, storage, and repair-oriented spaces.
Where is this flex space located?
The property is located at 300 Washington Street South Roxana, IL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Approximately 3.5+/- acre fenced and gated commercial property; Two shop buildings with attached office areas and additional storage space; Larger building: 40'x66' shop plus 48'x15' office space
