Building Details

Year built 2012

Floors in Building 1

Number of units 1

Building materials Brick, Concrete

Listing Agency: Century 21 Circle · Coldwell Banker Real Estate e***@coldwellbanker.com Show Phone

Listed By: Mark Ahmad · License #471007186 Show Phone

Added: Sep 10 Last Checked: Sep 13 at 11:06PM

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MLS# 12754061

Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This 2,300-square-foot automotive repair facility includes three service bays, three lifters, and three drive-in doors. The property was built in 2012 and features brick and concrete construction, central air, and COMMR zoning. The sale includes the real estate and operating business equipment.

Located at 3212 S Harlem Avenue in Riverside, the property sits within an established commercial and business district near retail, service, professional, and residential uses. Regional access includes I-55, I-294, I-290, and I-88. The site is also near the Metra Harlem Avenue station and approximately 5 miles from Chicago Midway International Airport.

Key Highlights

• 2,300‑square‑foot automotive repair facility
• Three service bays with 3 lifters
• 3 drive‑in doors for automotive access

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

$31,924

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

4.00%

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%

$638,480 $638.5K

Cap Rate 7%

$456,057 $456.1K

Cap Rate 9%

$354,711 $354.7K

Market Conditions

NOI Build-Up for 2,300 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

$49.7K $21.60/SF

− Vacancy

−$4.1K −$1.77/SF

EGI

$45.6K $19.83/SF

− OpEx

−$13.7K −$5.95/SF

NOI

$31.9K $13.88/SF

Area

Cook County, IL

Vacancy

8.20%

Lease Rate

$21.60 /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%

$638,480

Cap Rate 7%

$456,057

Cap Rate 9%

$354,711

Alternative Uses

Best Use

Retail

$456.1K

$399.1K – $532.1K (±1% cap)

NOI $31,924 @ 7.0% cap · market cap 4.00%

Second Best

Industrial

$141.4K

$123.8K – $165.0K (±1% cap)

NOI $9,901 @ 7.0% cap · market cap 1.24%

Theoretical Best

Office A

$794.1K

$694.8K – $926.4K (±1% cap)

NOI $55,586 @ 7.0% cap · market cap 6.96%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Riverside Car Care Auto Repair Shop

Suggested Use

Top Pick Parking Lot & Garage Computer & Electronic Repair Travel Agency Big Box & Wholesale Store Nursing Home Tech Support Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Service bays

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,679

Businesses Nearby

19k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 47% Dining 41% Home Improvements & Furnishings 13%

ARCO Shops & Services

8,686 visits/mo 0.2 miles

Dunkin' Donuts Dining

7,562 visits/mo 0.4 miles

Sherwin-Williams Paint Store Home Improvements & Furnishings

2,359 visits/mo 0.1 miles

Demographics for 60546, IL

16,819

Population

6,913

Households

2.4

Avg Household Size

42

Median Age

57%

College-Educated

96%

High-School Grad

4.0 sq mi

ZIP Area

4,205

Density / Sq Mi

$109,933

Median Household Income

$66,445

Median Earnings

$1,331

Median Rent

$377,600

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this auto shops located? What is the asking price? Find similar properties What are key features of this property?

Similar Off Market Nearby

• Berwyn Kia Service Center — 7050 Ogden Ave suite a, Berwyn, IL 60402
• Cassidy Tire and Service — 7000 Ogden Ave, Berwyn, IL 60402
• General Tire — Berwyn, IL 60402
• Automotive Repair Specialists — 6738 Ogden Ave, Berwyn, IL 60402
• Weimer Machine — 6738 Ogden Ave, Berwyn, IL 60402

Frequently Asked Questions

What type of property is this?

Auto shop - Established automotive service facility with drive-in access, central air, and operating equipment included with the real estate.

Where is this auto shop located?

The property is located at 3212 S Harlem Avenue Riverside, IL.

What is the asking price?

The asking price for this property is $799,000.

What are key features of this property?

This property features: 2,300‑square‑foot automotive repair facility; Three service bays with 3 lifters; 3 drive‑in doors for automotive access