Flex Facility With Office And
For Sale
$1,800,000
4436 Industrial Drive, Godfrey, IL 62002
Commercial Sale, Godfrey, IL
Property Size15,100 SF
Lot Size3.06 Acres
Price / SF$119.21
Days on Market26
Property Features for 4436 Industrial Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
North Port Industrial Pk Sec #
Standard status
Active
APN
23-2-01-35-15-401-011
Lot size
3.06 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
27985
Utilities
Water source
Public
Amenities
ADA-compliant restrooms with showers
two kitchens
large lunchroom
camera system
alarm system
badge-reader entry system
Building Details
Year built
1979
Building materials
Brick, Steel Siding
Listing Agency:
Tarrant and Harman Real Estate and Auction Co
(618) 433-9436
Listed By:
Travis Tarrant · License #471016673
(618) 433-9436
Added: Jul 31
Changed: Aug 24
Last Checked: Aug 25 at 5:06PM
MLS# 26048480
Copyright © 2026 Mid America Regional Information Systems, Inc. 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 flex property at 4436 Industrial Drive includes approximately 15,100 square feet across professional office and industrial shop areas. The office component measures approximately 9,421 square feet and includes private offices, collaborative areas, conference rooms, administrative areas, two kitchens, three ADA-compliant restrooms with showers, and a lunchroom sized for approximately 30 people. The 5,679-square-foot shop area includes six oversized garage doors and an oil separator system. Security features include cameras, an alarm system, and Lenel badge-reader access. Two detached outbuildings add approximately 24' x 24' and 74' x 36' of additional enclosed space. The property occupies 3.0568 acres and offers highway visibility. Constructed in 1979 with brick and steel siding, the facility is served by public water.
Key Highlights
- Approximately 15,100 square feet on 3.0568 acres
- Office area spans approximately 9,421 square feet
- Shop area measures 5,679 square feet with six oversized garage 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
$62,389
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
3.47%
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%
$1,247,780
$1.2M
Cap Rate 7%
$891,271
$891.3K
Cap Rate 9%
$693,211
$693.2K
Market Conditions
NOI Build-Up for 15,100 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
$91.5K $6.06/SF
− Vacancy
−$2.4K −$0.16/SF
EGI
$89.1K $5.90/SF
− OpEx
−$26.7K −$1.77/SF
NOI
$62.4K $4.13/SF
Area
Madison County, IL
Vacancy
2.60%
Lease Rate
$6.06 /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%
$1,247,780
Cap Rate 7%
$891,271
Cap Rate 9%
$693,211
Alternative Uses
Best Use
Industrial
$891.3K
$779.9K – $1.04M
NOI $62,389 @ 7.0% cap · market cap 3.47%
Second Best
Flex RnD
$797.2K
$697.6K – $930.1K
NOI $55,807 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$4.12M
$3.60M – $4.80M
NOI $288,108 @ 7.0% cap · market cap 16.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Drive-in doors
Location Intelligence
Trade Area within ½ mile
546
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 62002, IL
30,176
Population
14,832
Households
2
Avg Household Size
41
Median Age
24%
College-Educated
92%
High-School Grad
41.3 sq mi
ZIP Area
731
Density / Sq Mi
$57,851
Median Household Income
$38,120
Median Earnings
$941
Median Rent
$114,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial facility combining administrative space, industrial work areas, security systems, and detached storage buildings.
Where is this flex space located?
The property is located at 4436 Industrial Drive Godfrey, IL.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Approximately 15,100 square feet on 3.0568 acres; Office area spans approximately 9,421 square feet; Shop area measures 5,679 square feet with six oversized garage doors
