Retail/Flex Multi-Tenant
For Sale
Contact for pricing
469-487 W Wise Rd, Schaumburg, IL 60193
Multi-tenant retail/flex building with 10 units in Schaumburg’s Wise Road corridor.
Property Size11,500 SF
Price / SF$195.65
Days on Market133
Property Features for 469-487 W Wise Rd
General Information
Standard status
Active
Size
11,500 SF
Class
B
Total Parking Spaces
45
Property subtype
Retail, Industrial, Office
Zoning
BS/M1 Schaumburg
Occupancy
90%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$158,850
Building Details
Year Built
1988
Year Renovated
2024
Buildings
1
Units
10
Tenancy
Multi
Listing Agency:
Coldwell Banker Commercial Realty
Listed By:
Anthony Catanese · License #TX
Source:
Crexi
Added: Apr 25
Changed: Aug 31
Last Checked: Sep 4 at 6:49AM
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 Commercial Realty
Investment Insights
Based on property information with market context.
Coldwell Banker Commercial presents a retail/flex property at 469–487 W Wise Road in Schaumburg, Illinois. The building is configured as a multi-tenant asset with 10 individual units and is positioned to serve both retail and functional flex needs.
Located in the heart of Schaumburg’s Wise Road corridor, the property benefits from high-traffic retail exposure as described in the offering materials. The remarks also note an established NOI of $156,258, and that the NOI would increase to approximately $186,258 by renting the one vacant unit. An investor can also consider the opportunity to adjust rents toward market rates, subject to applicable terms.
This For Sale offering is presented as a core-plus style investment with multiple tenants, intended to help manage vacancy risk while maintaining steady cash flow, based on the information provided.
Located in the heart of Schaumburg’s Wise Road corridor, the property benefits from high-traffic retail exposure as described in the offering materials. The remarks also note an established NOI of $156,258, and that the NOI would increase to approximately $186,258 by renting the one vacant unit. An investor can also consider the opportunity to adjust rents toward market rates, subject to applicable terms.
This For Sale offering is presented as a core-plus style investment with multiple tenants, intended to help manage vacancy risk while maintaining steady cash flow, based on the information provided.
Key Highlights
- Retail/flex multi‑tenant building at 469‑487 W Wise Road, Schaumburg, IL, built in 1988
- 11,500 SF multi‑tenant property with 10 individual units
- Located on Schaumburg’s Wise Road high‑traffic corridor
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
$159,622
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
7.09%
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%
$3,192,440
$3.2M
Cap Rate 7%
$2,280,314
$2.3M
Cap Rate 9%
$1,773,578
$1.8M
Market Conditions
NOI Build-Up for 11,500 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
$248.4K $21.60/SF
− Vacancy
−$20.4K −$1.77/SF
EGI
$228.0K $19.83/SF
− OpEx
−$68.4K −$5.95/SF
NOI
$159.6K $13.88/SF
Area
Cook County, IL
Vacancy
8.20%
Lease Rate
$21.60 /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%
$3,192,440
Cap Rate 7%
$2,280,314
Cap Rate 9%
$1,773,578
Alternative Uses
Best Use
Retail
$2.28M
$2.00M – $2.66M
NOI $159,622 @ 7.0% cap · market cap 7.09%
Second Best
Flex RnD
$1.73M
$1.51M – $2.02M
NOI $121,095 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$3.97M
$3.47M – $4.63M
NOI $277,930 @ 7.0% cap · market cap 12.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
918
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60193, IL
40,805
Population
16,478
Households
2.5
Avg Household Size
42
Median Age
44%
College-Educated
96%
High-School Grad
8.8 sq mi
ZIP Area
4,637
Density / Sq Mi
$92,284
Median Household Income
$57,707
Median Earnings
$1,699
Median Rent
$317,900
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Toasty Cheese Food Trucks — FOOD TRUCK ONLY RESTAURANT CLOSED, 951 W Wise Rd, Schaumburg, IL 60193
- Relish Catering Kitchen — 19 W Wise Rd, Schaumburg, IL 60193
Frequently Asked Questions
What type of property is this?
Flex space - Multi-tenant retail/flex building with 10 units in Schaumburg’s Wise Road corridor.
Where is this flex space located?
The property is located at 469-487 W Wise Rd Schaumburg, IL.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Retail/flex multi‑tenant building at 469‑487 W Wise Road, Schaumburg, IL, built in 1988; 11,500 SF multi‑tenant property with 10 individual units; Located on Schaumburg’s Wise Road high‑traffic corridor
