Auto Body Repair
New
For Sale
$1,200,000
3101 Ridgeland Ave, Berwyn, IL 60402
Three connected buildings with overhead doors, updated electrical systems, and a 2024 roof replacement.
Property Size8,478 SF
Lot Size0.20 Acres
Price / SF$141.54
Days on Market2
Property Features for 3101 Ridgeland Ave
General Information
Standard status
Active
Size
8,478 SF
Lot size
0.20 Acres
Property subtype
Business Opportunity
Additional Details
Road Access
Yes
Building Details
Buildings
3
Stories
2
Listing Agency:
HomeSmart Connect LLC
Listed By:
Kevin Roy
(708) 821-4670
Source:
Realtopiare
Added: Sep 7
Last Checked: Sep 7 at 3:05PM
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 HomeSmart Connect LLC
Investment Insights
Based on property information with market context.
This automotive service property comprises three connected buildings configured for an auto body repair operation. The main level contains 6,884 square feet, with an additional 1,594 square feet on the second level. Service access includes two 9-foot overhead doors and one 8-foot overhead door. The roof was replaced in 2024, and electrical wiring and panels were updated throughout the buildings.
The property occupies an 8,653-square-foot lot at 3101 Ridgeland Ave in Berwyn, Illinois. Its Ridgeland Avenue setting is described as having substantial pedestrian and vehicle activity. The property is offered as-is and currently operates as Xander Auto Repair.
The property occupies an 8,653-square-foot lot at 3101 Ridgeland Ave in Berwyn, Illinois. Its Ridgeland Avenue setting is described as having substantial pedestrian and vehicle activity. The property is offered as-is and currently operates as Xander Auto Repair.
Key Highlights
- Three connected buildings totaling 8,478 square feet
- 6,884‑square‑foot main level plus 1,594‑square‑foot second level
- Two 9‑foot overhead doors and one 8‑foot overhead door
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
$36,495
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
3.04%
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%
$729,900
$729.9K
Cap Rate 7%
$521,357
$521.4K
Cap Rate 9%
$405,500
$405.5K
Market Conditions
NOI Build-Up for 8,478 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
$54.9K $6.48/SF
− Vacancy
−$2.8K −$0.33/SF
EGI
$52.1K $6.15/SF
− OpEx
−$15.6K −$1.84/SF
NOI
$36.5K $4.30/SF
Area
Cook County, IL
Vacancy
5.10%
Lease Rate
$6.48 /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%
$729,900
Cap Rate 7%
$521,357
Cap Rate 9%
$405,500
Alternative Uses
Best Use
Retail
$1.68M
$1.47M – $1.96M
NOI $117,676 @ 7.0% cap · market cap 9.81%
Second Best
Industrial
$521.4K
$456.2K – $608.3K
NOI $36,495 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$2.93M
$2.56M – $3.41M
NOI $204,895 @ 7.0% cap · market cap 17.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,572
Businesses Nearby
11k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Exxon
Shops & Services
5,489 visits/mo
0.3 miles
Advance Auto Parts
Shops & Services
3,806 visits/mo
0.4 miles
Jiffy Lube
Shops & Services
1,612 visits/mo
0.3 miles
Demographics for 60402, IL
64,706
Population
25,111
Households
2.6
Avg Household Size
37
Median Age
25%
College-Educated
85%
High-School Grad
5.7 sq mi
ZIP Area
11,352
Density / Sq Mi
$73,993
Median Household Income
$42,802
Median Earnings
$1,168
Median Rent
$277,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Premium Window Tints — 3614 S 61st Ct, Cicero, IL 60804
- Davila Bros Window Tinting — 3614 S 61st Ct, Cicero, IL 60804
- Automotive Repair Specialists — 6738 Ogden Ave, Berwyn, IL 60402
- Weimer Machine — 6738 Ogden Ave, Berwyn, IL 60402
- Ase Certified Blue Seal Of Excellence — 6732 Ogden Ave, Berwyn, IL 60402
Frequently Asked Questions
What type of property is this?
Auto shop - Three connected buildings with overhead doors, updated electrical systems, and a 2024 roof replacement.
Where is this auto shop located?
The property is located at 3101 Ridgeland Ave Berwyn, IL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Three connected buildings totaling 8,478 square feet; 6,884‑square‑foot main level plus 1,594‑square‑foot second level; Two 9‑foot overhead doors and one 8‑foot overhead door
