NNN Industrial Property with
For Sale
$995,000
3531 Martens St, Franklin Park, IL 60131
Leased industrial asset with a long-term corporate occupant, annual CPI adjustments, and recent property improvements.
Property Size9,900 SF
Price / SF$100.51
Days on Market49
Property Features for 3531 Martens St
General Information
Standard status
Active
Size
9,900 SF
Total Parking Spaces
33
Additional Details
Highway Access
Yes
Drive-In Doors
1
Building Details
Year Built
1956
Buildings
1
Building Size
9,900 SF
Tenancy
Single
Listing Agency:
Coldwell Banker Realty
Listed By:
Bruce Heller · License #471007740
(312) 320-8245
Source:
Amyboston.realtopiare
Added: Sep 18
Changed: Oct 26
Last Checked: Oct 7 at 4:28PM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
Built in 1956, this 9,900-square-foot industrial building is leased on an NNN basis to a publicly traded multinational med-tech and optics company that has occupied the property since 2003. The current lease runs through February 28, 2029 and includes annual CPI adjustments each March. The building includes one drive-in door and 33 parking spaces.
Recent capital work includes a new roof installed in 2022, with 16 years remaining on the warranty, along with masonry repairs. The parking lot has been seal coated and striped. Positioned on a corner parcel, the property is located near interchanges serving I-90, I-94, and I-294, and is 4 miles from O’Hare International Airport. Showings are not available during evenings or weekends.
Recent capital work includes a new roof installed in 2022, with 16 years remaining on the warranty, along with masonry repairs. The parking lot has been seal coated and striped. Positioned on a corner parcel, the property is located near interchanges serving I-90, I-94, and I-294, and is 4 miles from O’Hare International Airport. Showings are not available during evenings or weekends.
Key Highlights
- 9,900 SF industrial building constructed in 1956
- NNN lease runs through Feb 28, 2029 with annual CPI increases each March
- Publicly traded multinational med‑tech and optics company has occupied the property since 2003
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,616
Cap Rate
4.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$852,320
$852.3K
Cap Rate 7%
$608,800
$608.8K
Cap Rate 9%
$473,511
$473.5K
Market Conditions
NOI Build-Up for 9,900 SF
Gross rent
$64.2K $6.48/SF
− Vacancy
−$3.3K −$0.33/SF
EGI
$60.9K $6.15/SF
− OpEx
−$18.3K −$1.84/SF
NOI
$42.6K $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 Rate 5%
$852,320
Cap Rate 7%
$608,800
Cap Rate 9%
$473,511
Alternative Uses
Best Use
Industrial
$608.8K
$532.7K – $710.3K
NOI $42,616 @ 7.0% cap · market cap 4.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.42M
$2.99M – $3.99M
NOI $239,261 @ 7.0% cap · market cap 24.05%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
1
Drive-in doors
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
697
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
NNN property - Leased industrial asset with a long-term corporate occupant, annual CPI adjustments, and recent property improvements.
Where is this nnn property located?
The property is located at 3531 Martens St Franklin Park, IL.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 9,900 SF industrial building constructed in 1956; NNN lease runs through Feb 28, 2029 with annual CPI increases each March; Publicly traded multinational med‑tech and optics company has occupied the property since 2003
