Single-Tenant Industrial
For Sale
Contact for pricing
3524-3528 Martens Street, Franklin Park, IL 60131
Industrial warehouse with outdoor storage, heavy power, grade-level loading, and an established single-tenant occupancy.
Property Size33,605 SF
Lot Size2.27 Acres
Price / SF$140.90
Days on Market8
Property Features for 3524-3528 Martens Street
General Information
Standard status
Active
Size
33,605 SF
Class
B
Total Parking Spaces
57
Lot size
2.27 Acres
Property subtype
Industrial
Zoning
I-1
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Net Lease
Net Operating Income
$367,119
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
7
Power
3,000 amps
Three-Phase Power
Yes
Heavy Power
Yes
Additional Details
Outdoor Storage
Yes
Building Details
Year Built
1945
Year Renovated
2014
Buildings
1
Tenancy
Single
Building Size
33,605 SF
Listing Agency:
Marcus & Millichap - Dallas
(972) 755-5200
Listed By:
Reese Isacson · License #475.216.053
Source:
Crexi
Added: Aug 4
Changed: Aug 11
Last Checked: Aug 11 at 5:22AM
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 Marcus & Millichap - Dallas
Investment Insights
Based on property information with market context.
The property at 3524-3528 Martens Street in Franklin Park, Illinois, is a 33,605-square-foot industrial warehouse on 2.27 acres. Built in 1945, the facility provides 14' to 18' clear heights, seven grade-level doors, and three-phase heavy power with 3,000 amps. A special use zoning permit supports full use of approximately 1.5 acres for outdoor storage, while the property carries I-1 zoning.
INTREN has occupied the site for over 10 years and has executed a 4-year early renewal option beginning in January 2027. The renewal includes 3 percent annual escalations. The tenant is identified as a national utility service provider and is part of MasTec, Inc., a publicly traded utility company.
INTREN has occupied the site for over 10 years and has executed a 4-year early renewal option beginning in January 2027. The renewal includes 3 percent annual escalations. The tenant is identified as a national utility service provider and is part of MasTec, Inc., a publicly traded utility company.
Key Highlights
- 33,605‑square‑foot industrial warehouse on 2.27 acres
- Approximately 1.5 acres of outdoor storage permitted for full use
- 14' to 18' clear heights with seven grade‑level doors
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
$175,656
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
3.71%
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%
$3,513,120
$3.5M
Cap Rate 7%
$2,509,371
$2.5M
Cap Rate 9%
$1,951,733
$2.0M
Market Conditions
NOI Build-Up for 33,605 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
$217.8K $6.48/SF
− Vacancy
−$11.1K −$0.33/SF
EGI
$206.7K $6.15/SF
− OpEx
−$31.0K −$0.92/SF
NOI
$175.7K $5.23/SF
Area
Cook County, IL
Vacancy
5.10%
Lease Rate
$6.48 /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%
$3,513,120
Cap Rate 7%
$2,509,371
Cap Rate 9%
$1,951,733
Alternative Uses
Best Use
Warehouse
$2.51M
$2.20M – $2.93M
NOI $175,656 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.60M
$10.15M – $13.54M
NOI $812,159 @ 7.0% cap · market cap 17.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18 ft
Clear height
7
Drive-in doors
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
697
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60131, IL
18,205
Population
6,120
Households
3
Avg Household Size
39
Median Age
19%
College-Educated
77%
High-School Grad
5.4 sq mi
ZIP Area
3,371
Density / Sq Mi
$76,404
Median Household Income
$39,117
Median Earnings
$1,092
Median Rent
$261,800
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Strong Boys Moving Company inc. — 3871 Ruby St, Schiller Park, IL 60176
- Public Storage — 3902 River Rd, Schiller Park, IL 60176
- Rosemont Expo Services Warehouse — 3412 River Rd, Franklin Park, IL 60131
- Extra Space Storage — 3000 N River Rd, River Grove, IL 60171
- BILLS MOVING SERVICES — 4039 Prairie Ave, Schiller Park, IL 60176
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse with outdoor storage, heavy power, grade-level loading, and an established single-tenant occupancy.
Where is this warehouse located?
The property is located at 3524-3528 Martens Street Franklin Park, IL.
What is the asking price?
The asking price for this property is $4,735,000.
What are key features of this property?
This property features: 33,605‑square‑foot industrial warehouse on 2.27 acres; Approximately 1.5 acres of outdoor storage permitted for full use; 14' to 18' clear heights with seven grade‑level doors
