Freestanding Single-Tenant Retail
For Sale
Contact for pricing
3331 Chicago Rd, South Chicago Heights, IL
Single-tenant net lease property with long-term operating history.
Property Size6,767 SF
Lot Size0.83 Acres
Price / SF$212.43
Days on Market307
Property Features for 3331 Chicago Rd
General Information
Standard status
Active
Size
6,767 SF
Lot size
0.83 Acres
Property subtype
RETAIL
Listing Agency:
Colliers | Chicago Rosemont
(847) 698-8209
Listed By:
Peter Block · License #475134920
(312) 343-1800
Source:
Moodyscre
Added: Oct 10, 2025
Changed: Aug 8
Last Checked: Aug 11 at 2:35PM
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 Colliers | Chicago Rosemont
Investment Insights
Based on property information with market context.
This is an opportunity to acquire a freestanding single-tenant Advance Auto location. The property is a 6,767 square foot building. The building is modified NNN with Landlord responsible for structure. The lease terms range from 4.4 to 8.4 years with three - 5 year options. Advance Auto is one of the leading brands in auto-maintenance and repair. Advance Auto has an investment grade credit rating of BB+ from S&P and Ba1 from Moody’s. The subject property has an established presence and has successfully operated at this location between 20-22 years. The site was developed for Advance Auto between 2004-2006.
Key Highlights
- Investment grade credit rating (BB+ S&P, Ba1 Moody’s) corporate guarantee from Advance Auto.
- Recession‑proof single‑tenant net lease property with a long operating history.
- Established presence with successful operation at each location for 20‑22 years.
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
$93,927
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
6.53%
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%
$1,878,540
$1.9M
Cap Rate 7%
$1,341,814
$1.3M
Cap Rate 9%
$1,043,633
$1.0M
Market Conditions
NOI Build-Up for 6,767 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
$146.2K $21.60/SF
− Vacancy
−$12.0K −$1.77/SF
EGI
$134.2K $19.83/SF
− OpEx
−$40.3K −$5.95/SF
NOI
$93.9K $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%
$1,878,540
Cap Rate 7%
$1,341,814
Cap Rate 9%
$1,043,633
Alternative Uses
Best Use
Retail
$1.34M
$1.17M – $1.57M
NOI $93,927 @ 7.0% cap · market cap 6.53%
Second Best
Industrial
$416.1K
$364.1K – $485.5K
NOI $29,130 @ 7.0% cap · market cap 2.03%
Theoretical Best
Office A
$2.34M
$2.04M – $2.73M
NOI $163,544 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
562
Businesses Nearby
170k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 34%
Dining 33%
Shops & Services 32%
Electronics 1%
Jewel-Osco
Groceries
46,894 visits/mo
0.2 miles
McDonald's
Dining
28,519 visits/mo
0.2 miles
Dollar Tree
Shops & Services
15,916 visits/mo
0.0 miles
Save-A-Lot
Groceries
10,598 visits/mo
0.1 miles
Burger King
Dining
8,711 visits/mo
0.1 miles
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
- Ideal Tire & Auto Repair of Chicago Heights Inc — 2300 Chicago Rd, Chicago Heights, IL 60411
- D & D Wholesale Autobody Inc — 2100 S Halsted St, Chicago Heights, IL 60411
- Amigo's Tire and Repair inc. — 2417 Chicago Rd, Chicago Heights, IL 60411
- New World Auto, Inc. — 2015 Chicago Rd suite b, Chicago Heights, IL 60411
- Hughes 1 Towing — 2108 S Halsted St, Chicago Heights, IL 60411
Frequently Asked Questions
What type of property is this?
Auto shop - Single-tenant net lease property with long-term operating history.
Where is this auto shop located?
The property is located at 3331 Chicago Rd South Chicago Heights, IL.
What is the asking price?
The asking price for this property is $1,437,500.
What are key features of this property?
This property features: Investment grade credit rating (BB+ S&P, Ba1 Moody’s) corporate guarantee from Advance Auto.; Recession‑proof single‑tenant net lease property with a long operating history.; Established presence with successful operation at each location for 20‑22 years.
