Auto Body Repair Shop with Overhead
For Sale
$1,200,000
3101 Ridgeland Avenue, Berwyn, IL 60402
Commercial auto body facility with updated electrical systems and multiple overhead doors.
Property Size8,478 SF
Lot Size0.20 Acres
Price / SF$141.54
Days on Market120
Property Features for 3101 Ridgeland Avenue
General Information
Standard status
Active
Size
8,478 SF
Lot size
0.20 Acres
Property subtype
Business Opportunity
Zoning
COMMR
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$36,418
Building Details
Building Size
8,478 SF
Buildings
3
Stories
2
Listing Agency:
HomeSmart Connect LLC
(312) 500-5040
Listed By:
Kevin Roy
(312) 500-5040
Source:
Perillorealestategroup
Added: Apr 12
Changed: Aug 3
Last Checked: Aug 8 at 12:14PM
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 commercial auto body repair property comprises three attached buildings with 6,884 square feet on the main level and 1,594 square feet on the second level. The facility is currently operating as an auto body repair shop and includes two 9-foot overhead doors plus one 8-foot overhead door. New electrical wiring and panels extend throughout the buildings, and the roof was replaced in 2024.
The property occupies an 8,653-square-foot lot at 3101 Ridgeland Avenue in Berwyn, with exposure to both foot and vehicle traffic along Ridgeland Avenue. Zoning is designated COMMR. The property and operating business are offered as-is.
The property occupies an 8,653-square-foot lot at 3101 Ridgeland Avenue in Berwyn, with exposure to both foot and vehicle traffic along Ridgeland Avenue. Zoning is designated COMMR. The property and operating business are offered as-is.
Key Highlights
- 6,884 sq. ft. main level plus 1,594 sq. ft. second level
- Three attached commercial buildings on an 8,653 sq. ft. lot
- 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
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.
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- Davila Bros Window Tinting — 3614 S 61st Ct, Cicero, IL 60804
Frequently Asked Questions
What type of property is this?
Auto shop - Commercial auto body facility with updated electrical systems and multiple overhead doors.
Where is this auto shop located?
The property is located at 3101 Ridgeland Avenue 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: 6,884 sq. ft. main level plus 1,594 sq. ft. second level; Three attached commercial buildings on an 8,653 sq. ft. lot; Two 9‑foot overhead doors and one 8‑foot overhead door
