Building Details

Year built 1989

Flooring type Linoleum, Concrete

Building materials Concrete, Foam Insulation, Metal Siding

Listing Agency: Tarrant and Harman Real Estate and Auction Co t***@tarrantandharman.com Show Phone

Listed By: John Hoefert · License #475.207904 Show Phone

Added: Jul 11 Changed: Aug 15 Last Checked: Aug 18 at 8:06AM

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MLS# 26022780

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Investment Insights

Based on property information with market context.

This flex property occupies 3.5+/- acres and includes two concrete-and-metal buildings with shop and office areas. Building #1 measures 40'x66' with a 48'x15' office addition; Building #2 measures 40'x45' with a 20'x12' office area. Both structures include through-and-through 14-foot-tall bay doors, 9-inch-thick concrete garage bays, floor drains, 3-cell oil separators, bathrooms, and additional office or storage space.

Access is controlled through an 18-foot electronically operated entry and exit gate, with perimeter chain-link fencing enclosing the open yard. Property improvements include updated electrical systems, explosion-proof lighting, plumbing fixtures, natural gas forced-air heating, A/C, outdoor faucets, freeze plugs, and resealed roof fasteners. The property was built in 1989 and is located within minutes of Interstates 255 and 270.

Key Highlights

• 3.5+/- acre fenced and gated commercial property
• Two buildings with shop and office space: 40'x66' plus 48'x15', and 40'x45' plus 20'x12'
• 18‑foot electronically controlled entry/exit gate with perimeter chain‑link fencing

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

$22,311

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

3.43%

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%

$446,220 $446.2K

Cap Rate 7%

$318,729 $318.7K

Cap Rate 9%

$247,900 $247.9K

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

−$9.6K −$1.77/SF

NOI

$22.3K $4.13/SF

Area

Madison County, IL

Vacancy

2.60%

Lease Rate

$6.06 /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%

$446,220

Cap Rate 7%

$318,729

Cap Rate 9%

$247,900

Alternative Uses

Best Use

Industrial

$318.7K

$278.9K – $371.9K (±1% cap)

NOI $22,311 @ 7.0% cap · market cap 3.43%

Second Best

Flex RnD

$285.1K

$249.5K – $332.6K (±1% cap)

NOI $19,957 @ 7.0% cap · market cap 3.07%

Theoretical Best

Office A

$1.47M

$1.29M – $1.72M (±1% cap)

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

E-Pump Factory C.S. Limited Outdoor ... Storage Facility Etank Factory

Suggested Use

Top Pick Real Estate Agency Auto Repair Shop Restaurant Building Supply Electrical Service Grocery & Convenience 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.

Lease Details

Yes

Fenced yard

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

58

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

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - The site combines open lot area with shop, office, storage, and loading functionality.

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: 3.5+/- acre fenced and gated commercial property; Two buildings with shop and office space: 40'x66' plus 48'x15', and 40'x45' plus 20'x12'; 18‑foot electronically controlled entry/exit gate with perimeter chain‑link fencing