Industrial Warehouse
For Sale
$280,000
3009 Nameoki Road, Granite City, IL 62040
Warehouse-style industrial property for sale in Madison County, suitable for basic storage and industrial operations.
Property Size3,922 SF
Days on Market143
Property Features for 3009 Nameoki Road
General Information
Standard status
Active
Size
3,922 SF
Taxes and HOA fees
Annual Taxes
$3,498
Amenities
Central Air, Electric
Forced Air
Building Details
Building Size
3,922 SF
Year Built
1955
Buildings
1
Stories
2
Listing Agency:
Hartmann Realtors, Inc
(618) 570-0629
Listed By:
Doug Hartmann, Jr · License #471000352
(618) 570-0629
Source:
Evrealestate
Added: Mar 31
Changed: Aug 12
Last Checked: Aug 20 at 5:09AM
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 Hartmann Realtors, Inc
Investment Insights
Based on property information with market context.
This listing presents an industrial warehouse property offered for sale. The asset is categorized as warehouses and industrial properties, aligning it with practical warehouse and industrial use cases. While additional building specifications are not provided here, the property’s commercial real estate classification indicates it is being marketed for industrial storage and work uses rather than retail or office.
The property is located at 3009 Nameoki Road in Granite City, Illinois, within Madison County. The listing data does not include further details on site size, building layout, or improvements, but the street address provides a direct reference point for scheduling tours and verifying existing conditions on-site.
For buyers evaluating warehouse space or industrial inventory, this property may be a fit if you are looking for a straightforward industrial warehouse asset in Madison County. Interested parties should plan to review the premises in person and confirm critical factors such as access, loading capabilities, ceiling heights, power availability, and any existing improvements or condition details that are not included in the public remarks. Brokers and tenants can also use the address to coordinate site walks and due diligence before making an offer or submitting an LOI.
The property is located at 3009 Nameoki Road in Granite City, Illinois, within Madison County. The listing data does not include further details on site size, building layout, or improvements, but the street address provides a direct reference point for scheduling tours and verifying existing conditions on-site.
For buyers evaluating warehouse space or industrial inventory, this property may be a fit if you are looking for a straightforward industrial warehouse asset in Madison County. Interested parties should plan to review the premises in person and confirm critical factors such as access, loading capabilities, ceiling heights, power availability, and any existing improvements or condition details that are not included in the public remarks. Brokers and tenants can also use the address to coordinate site walks and due diligence before making an offer or submitting an LOI.
Key Highlights
- Warehouse‑style industrial property in Madison County
- Central air and electric cooling
- Forced air heating
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
$19,677
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
7.03%
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%
$393,540
$393.5K
Cap Rate 7%
$281,100
$281.1K
Cap Rate 9%
$218,633
$218.6K
Market Conditions
NOI Build-Up for 3,922 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
$23.8K $6.06/SF
− Vacancy
−$618 −$0.16/SF
EGI
$23.1K $5.90/SF
− OpEx
−$3.5K −$0.89/SF
NOI
$19.7K $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%
$393,540
Cap Rate 7%
$281,100
Cap Rate 9%
$218,633
Alternative Uses
Best Use
Warehouse
$281.1K
$246.0K – $328.0K
NOI $19,677 @ 7.0% cap · market cap 7.03%
Second Best
Industrial
$231.5K
$202.6K – $270.1K
NOI $16,205 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$1.07M
$935.4K – $1.25M
NOI $74,832 @ 7.0% cap · market cap 26.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
478
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 62040, IL
40,872
Population
18,842
Households
2.2
Avg Household Size
41
Median Age
16%
College-Educated
89%
High-School Grad
39.9 sq mi
ZIP Area
1,024
Density / Sq Mi
$60,558
Median Household Income
$40,963
Median Earnings
$852
Median Rent
$106,600
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?
Warehouse - Warehouse-style industrial property for sale in Madison County, suitable for basic storage and industrial operations.
Where is this warehouse located?
The property is located at 3009 Nameoki Road Granite City, IL.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Warehouse‑style industrial property in Madison County; Central air and electric cooling; Forced air heating
