Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Versatile Office/Warehouse on Corner Lot Title is generated by Realmo AI

    305 Forest Dr, Highland, IL 62249

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    2,196 SF office/warehouse with flexible space and industrial zoning.

    Type:Office, Industrial
    Property size:
    2,300 SF
    Lot size:
    2.12 Acres
    Price / SF:
    $312/SF
    Added:
    Sep 6, 2024
    Days on Market:
    636
    Last Refresh:
    May 12 at 10:47 pm

    Property Features for 305 Forest Dr

    General Information

    Standard status
    Active
    Size
    2,300 SF
    Lot size
    2.12 Acres
    Property subtype
    Office, Industrial

    Building Details

    Year Built
    2009

    We can help!

    Listing Contact
    Darin Revermann

    Listing agent Darin Revermann License #Il 475.179348

    Listing office REAL BROKER LLL

    Listing date Sep 6, 2024

    Source Crexi

    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 BROKER LLL

    HighLights

    • Owner financing available.
    • Versatile office/warehouse space: 1,296 SF office and 900 SF warehouse.
    • Located on a large 2.12‑acre corner lot with Industrial C‑3 zoning, offering development potential.
    • Includes a large fenced‑in area and a 40x30 carport.
    • Warehouse features a 15x12 OHD, 16‑ft ceilings, and heated floors.
    • Equipped with a backup generator for continuous operation.

    Overview

    This 2,196 SF office/warehouse property provides a versatile space suitable for various business needs. The 1,296 SF office area includes a private office, reception area, conference room, showroom, and mechanical room. It also features one ADA-compliant restroom and a convenient rear entrance. The 900 SF warehouse portion includes a 15x12 overhead door, 16-ft ceilings, heated floors, and a rear entrance door. The building is equipped with a backup generator. Situated on a 2.12-acre corner lot, the property is zoned as Industrial C-3 Highway Business District. It includes a large fenced-in area behind the building and a 40x30 carport. The industrial zoning allows flexibility for future development and is suitable for many uses, including operating an existing business with potential storage rental options.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $55.2k $24.00
    − Vacancy −$6.6k −$2.88
    EGI $48.6k $21.12
    − OpEx −$12.1k −$5.28
    NOI $36.4k $15.84
    2,300 SF · lease $24.00/SF/yr · vacancy 12.00% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $520.5K
    $455.4K – $607.2K (±1% cap)
    NOI $36,432 @ 7.0% cap · market cap 5.07%
    Second Best
    Warehouse
    $164.8K
    $144.2K – $192.3K (±1% cap)
    NOI $11,539 @ 7.0% cap · market cap 1.60%
    Theoretical Best
    Office A
    $626.9K
    $548.6K – $731.4K (±1% cap)
    NOI $43,884 @ 7.0% cap · market cap 6.10%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Cygan & Delaney Catering Inc — 808 Broadway A, Highland, IL 62249

    Location Insight

    • Map
    • Local Demand
    City
    Highland
    County
    Madison
    State
    Illinois
    Longitude
    -89.674472
    Latitude
    38.748329

    Nearby Similar for Sale

    • $275,000
      3,080 SF

      Prime Retail Building in Highland, IL

      Well-located retail building with full basement and dedicated parking.
      1018 Laurel Street, Highland, IL 62249
      View Details
    • $128,000

      Highland Commercial Building For Sale

      Vacant brick building in prime midtown location.
      809 Main Street, Highland, IL 62249
      View Details
    • $449,000
      5,375 SF

      Versatile Medical/Athletic Facility For Sale

      5,375 SF building suitable for medical, athletic, or office use.
      1117 Washington St, Highland, IL
      View Details
    • $295,000

      High Visibility Retail/Office Opportunity

      Retail/office building with high traffic and dedicated parking.
      12571 State Route 143, 2, Highland, IL 62249
      View Details
    • $295,000

      High Visibility Commercial Property

      Prime location with high traffic and recent upgrades.
      12571 State Route 143 , 2, Highland, IL 62249
      View Details
    • $250,000
      21,000 SF

      Office/Warehouse on 1.22 Acres

      21,000 SF office/warehouse property for sale.
      1405 Walnut St, Highland, IL
      View Details
    • $250,000
      21,000 SF

      Office/Warehouse Space on 1.22 Acres

      21,000 SF office/warehouse near major highways.
      1405 Walnut St, Highland, IL 62249
      View Details
    • $1,950,000
      12,827 SF

      Single Tenant Office Building For Sale

      Single tenant office building with long-term lease in place.
      115 Executive Dr, Highland, IL
      View Details
    • $129,900
      1,855 SF

      New Office Space in Highland

      Newly constructed 1,855 SF office space for sale.
      5 Apex & 20-25 Apex Dr, Highland, IL 62249
      View Details

    FAQs

    What type of property is this?
    Flex space - 2,196 SF office/warehouse with flexible space and industrial zoning.
    Where is this flex space located?
    The property is located at 305 Forest Dr Highland, IL.
    What is the asking price?
    The asking price for this property is $719,000.
    What are key features of this property?
    This property features: Owner financing available.; Versatile office/warehouse space: **1,296 SF office and 900 SF warehouse.**; Located on a **large 2.12‑acre corner lot** with Industrial C‑3 zoning, offering development potential.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Darin Revermann
    Real Estate License ID: Il 475.179348
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    305 Forest Dr, Highland, IL 62249
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!