Industrial Flex Building with
419 KAYS DR Normal, IL 61761
New
419 KAYS DR, Normal, IL, 61761
Contact for pricing
For Sale
Contact for pricing
Industrial flex building with a large open main floor, upper level, and multiple oversized private rooms.
Property Size19,200 SF
Price / SF$103.91
Days on Market7
Property Features for 419 KAYS DR
General Information
- Standard status
- Active
- Size
- 19,200 SF
- Property subtype
- Retail, Office, Industrial
Building Details
- Year Built
- 1994
Listing agency
SVN Core 3
(309) 242-8502
Listed by
Tom Dibble · License #475160875
Source
Crexi
Added: Jul 15 Updated: Jul 20 at 4:11AM Checked: Jul 21 at 6:34AM
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 SVN Core 3
Investment Insights
Based on property information with market context.
This versatile industrial commercial building is currently operating as The Workout Company and is offered for sale. The layout includes a large open-concept main floor that can support gym, training, warehouse, flex, or recreational uses, along with an upper level and multiple oversized private rooms. The space also features a welcoming front entry with a built-in beverage/protein bar area.
The open floor plan can be maintained or partitioned to support a custom configuration. The property is set up for flexible day-to-day operations, with additional rooming that may allow for separate uses.
Existing gym equipment and the business are negotiable and may be included with the sale, depending on terms.
The open floor plan can be maintained or partitioned to support a custom configuration. The property is set up for flexible day-to-day operations, with additional rooming that may allow for separate uses.
Existing gym equipment and the business are negotiable and may be included with the sale, depending on terms.
Key Highlights
- 1994‑built industrial flex/commercial building currently operating as The Workout Company
- Large open‑concept main floor suited for gym, training, warehouse, flex, or recreational use
- Upper level plus multiple oversized private rooms for add‑on space and potential subleasing
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $200.4k | $10.44 |
| − Vacancy | −$11.0k | −$0.57 |
| EGI | $189.4k | $9.87 |
| − OpEx | −$28.4k | −$1.48 |
| NOI | $161.0k | $8.39 |
19,200 SF · lease $10.44/SF/yr · vacancy 5.50% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$2.30M
$2.01M – $2.68M
NOI $161,010 @ 7.0% cap · market cap 8.07%
Second Best
Industrial
$1.89M
$1.66M – $2.21M
NOI $132,596 @ 7.0% cap · market cap 6.65%
Theoretical Best
Office A
$4.00M
$3.50M – $4.67M
NOI $280,166 @ 7.0% cap · market cap 14.04%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
The Workout Company
Gym & Fitness Center
Jazzercise Fitness Center
Gym & Fitness Center
Similar For Sale Nearby
Similar Off Market Nearby
- Summer lemonades — Savannah park, 1102 Bull St, Normal, IL 61761, United States
FAQs
What type of property is this?
Flex space - Industrial flex building with a large open main floor, upper level, and multiple oversized private rooms.
Where is this flex space located?
The property is located at 419 KAYS DR Normal, IL.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 1994‑built industrial flex/commercial building currently operating as The Workout Company; Large open‑concept main floor suited for gym, training, warehouse, flex, or recreational use; Upper level plus multiple oversized private rooms for add‑on space and potential subleasing
