Building Details

Building Size 4,000 SF

Stories 1

Listing Agency: l***@gmail.com Show Phone

Listed By: Leanne Provost · License #475122019 Show Phone

Source: Evrealestate

Added: May 30 Changed: Aug 8 Last Checked: Jul 15 at 11:04PM

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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 Leanne Provost

Investment Insights

Based on property information with market context.

This for-sale warehouse property is an industrial building offering a practical base for a range of warehouse and light industrial uses. The available details identify the asset as a warehouse within the broader industrial property category.

The property is located at 3159 N State Route 1 in St. Anne, Illinois, in Iroquois County. Directions provided indicate the site is on the west side of Route 1, south of St Anne.

Because the property is presented as a warehouse/industrial facility, it may fit tenants and buyers looking for a commercial space to support storage and distribution needs. Interested parties should review the property directly to confirm the specific interior layout, loading access, and any site improvements relevant to their operations. This listing is best suited for buyers planning to evaluate the building’s functional characteristics for their intended warehouse or industrial use.

Key Highlights

• Warehouse property for sale along Rt 1 (West side of the road) in Iroquois County
• Directions: Rt 1 south of St Anne

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

$34,755

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

6.95%

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%

$695,100 $695.1K

Cap Rate 7%

$496,500 $496.5K

Cap Rate 9%

$386,167 $386.2K

Market Conditions

NOI Build-Up for 4,000 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

$43.0K $10.76/SF

− Vacancy

−$2.2K −$0.54/SF

EGI

$40.9K $10.22/SF

− OpEx

−$6.1K −$1.53/SF

NOI

$34.8K $8.69/SF

Area

Kankakee County, IL

Vacancy

5.00%

Lease Rate

$10.76 /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%

$695,100

Cap Rate 7%

$496,500

Cap Rate 9%

$386,167

Alternative Uses

Best Use

Warehouse

$496.5K

$434.4K – $579.3K (±1% cap)

NOI $34,755 @ 7.0% cap · market cap 6.95%

Second Best

Industrial

$367.4K

$321.5K – $428.7K (±1% cap)

NOI $25,719 @ 7.0% cap · market cap 5.14%

Theoretical Best

Multifamily LT 5

$3.23M

$2.82M – $3.76M (±1% cap)

NOI $225,885 @ 7.0% cap · market cap 45.18%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Warehouses

Suggested Use

Top Pick Auto Repair Shop Big Box & Wholesale Store Butcher Discount 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.

Location Intelligence

Trade Area within ½ mile

2

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 60964, IL

4,628

Population

2,147

Households

2.2

Avg Household Size

46

Median Age

17%

College-Educated

90%

High-School Grad

74.5 sq mi

ZIP Area

62

Density / Sq Mi

$80,649

Median Household Income

$49,861

Median Earnings

$937

Median Rent

$178,100

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

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What type of property is this? Where is this warehouses 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?

Warehouse - For-sale warehouse property positioned along Route 1 for straightforward industrial access in Iroquois County.

Where is this warehouse located?

The property is located at 3159 N State Route 1 St Anne, IL.

What is the asking price?

The asking price for this property is $499,950.

What are key features of this property?

This property features: Warehouse property for sale along Rt 1 (West side of the road) in Iroquois County; Directions: Rt 1 south of St Anne