Brick Flex Building with Fenced
New
For Sale
$850,000
4511 W BELMONT Avenue, Chicago, IL 60641
Brick flex property with office, shop, trailer dock, and fenced paved parking.
Property Size4,500 SF
Lot Size0.24 Acres
Price / SF$188.89
Days on Market2
Property Features for 4511 W BELMONT Avenue
General Information
Standard status
Active
Size
4,500 SF
Total Parking Spaces
12
Lot size
0.24 Acres
Property subtype
Industrial
Zoning
COMMR
Warehouse & Industrial
Office Build-Out
1,200 SF
Dock-High Doors
1
Additional Details
Road Access
Yes
Building Details
Building Size
4,500 SF
Year Built
1960
Buildings
1
Stories
1
Construction
brick
Listing Agency:
Coldwell Banker Real Estate Group
(708) 217-5004
Listed By:
Frank Paganis · License #475161105
(708) 217-5004
Source:
Cbcworldwide
Added: Aug 16
Changed: Aug 17
Last Checked: Aug 17 at 10:13AM
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 Real Estate Group
Investment Insights
Based on property information with market context.
Built in 1960, this 4,500 SF brick flex building combines approximately 1,200 SF of office space with shop and warehouse areas. The property includes an exterior trailer dock and a fenced, paved parking area with 11-12 spaces. Its existing configuration supports cabinet-making, woodworking, millwork, contractor, trade, distribution, light manufacturing, and fabrication operations as described in the property information.
The building occupies an assembled 100' x 103' parcel spanning four lots at 4511 W BELMONT Avenue in Chicago. Zoning is COMMR. The combination of office space, functional production areas, trailer access, and fenced vehicle storage creates a practical layout for an owner-user or investor seeking a flexible industrial property.
The building occupies an assembled 100' x 103' parcel spanning four lots at 4511 W BELMONT Avenue in Chicago. Zoning is COMMR. The combination of office space, functional production areas, trailer access, and fenced vehicle storage creates a practical layout for an owner-user or investor seeking a flexible industrial property.
Key Highlights
- 4,500 SF brick flex building built in 1960
- Approximately 1,200 SF of office space with remaining area configured for warehouse/shop use
- Assembled 100' x 103' parcel spanning four lots
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
$51,948
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
6.11%
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%
$1,038,960
$1.0M
Cap Rate 7%
$742,114
$742.1K
Cap Rate 9%
$577,200
$577.2K
Market Conditions
NOI Build-Up for 4,500 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
$86.4K $19.20/SF
− Vacancy
−$6.5K −$1.44/SF
EGI
$79.9K $17.76/SF
− OpEx
−$28.0K −$6.22/SF
NOI
$51.9K $11.54/SF
Area
Chicago, IL
Vacancy
7.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
35.00%
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%
$1,038,960
Cap Rate 7%
$742,114
Cap Rate 9%
$577,200
Alternative Uses
Best Use
Flex RnD
$742.1K
$649.4K – $865.8K
NOI $51,948 @ 7.0% cap · market cap 6.11%
Second Best
Warehouse
$486.9K
$426.1K – $568.1K
NOI $34,086 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$2.12M
$1.86M – $2.48M
NOI $148,522 @ 7.0% cap · market cap 17.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,603
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60641, IL
69,354
Population
27,377
Households
2.5
Avg Household Size
37
Median Age
36%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
17,339
Density / Sq Mi
$81,649
Median Household Income
$46,376
Median Earnings
$1,249
Median Rent
$373,200
Median Home Value
Market
Vacancy Rate% for Industrial in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Alltimate Catering — 3051 N Cicero Ave, Chicago, IL 60641
- Best Catering — 3576 N Milwaukee Ave, Chicago, IL 60641
Frequently Asked Questions
What type of property is this?
Flex space - Brick flex property with office, shop, trailer dock, and fenced paved parking.
Where is this flex space located?
The property is located at 4511 W BELMONT Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 4,500 SF brick flex building built in 1960; Approximately 1,200 SF of office space with remaining area configured for warehouse/shop use; Assembled 100' x 103' parcel spanning four lots
