End-Cap Flex
For Sale
$1,050,000
620 Estes Avenue, Schaumburg, IL 60193
Air-conditioned commercial unit with dock and drive-in loading access.
Property Size10,193 SF
Days on Market11
Property Features for 620 Estes Avenue
General Information
Standard status
Active
Size
10,193 SF
Property subtype
Industrial
Building Details
Building Size
10,193 SF
Year Built
1999
Listing Agency:
Brown Commercial Group
Listed By:
Pat Crowley
(847) 758-9200
Source:
Browncommercialgroup
Added: Sep 4
Changed: Sep 8
Last Checked: Sep 13 at 5:19AM
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 Brown Commercial Group
Investment Insights
Based on property information with market context.
This end-position flex condominium was built in 1999 and combines industrial functionality with fully air-conditioned interior space. The property includes both dock loading and a drive-in door, supporting a range of commercial operations that require convenient goods movement and climate-controlled workspace.
Key Highlights
- End‑cap flex condominium
- Built in 1999
- 100% air‑conditioned interior
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
$43,877
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
4.18%
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%
$877,540
$877.5K
Cap Rate 7%
$626,814
$626.8K
Cap Rate 9%
$487,522
$487.5K
Market Conditions
NOI Build-Up for 10,193 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
$66.1K $6.48/SF
− Vacancy
−$3.4K −$0.33/SF
EGI
$62.7K $6.15/SF
− OpEx
−$18.8K −$1.84/SF
NOI
$43.9K $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 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%
$877,540
Cap Rate 7%
$626,814
Cap Rate 9%
$487,522
Alternative Uses
Best Use
Flex RnD
$1.53M
$1.34M – $1.79M
NOI $107,332 @ 7.0% cap · market cap 10.22%
Second Best
Industrial
$626.8K
$548.5K – $731.3K
NOI $43,877 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$3.52M
$3.08M – $4.11M
NOI $246,342 @ 7.0% cap · market cap 23.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
808
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Air-conditioned commercial unit with dock and drive-in loading access.
Where is this flex space located?
The property is located at 620 Estes Avenue Schaumburg, IL.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: End‑cap flex condominium; Built in 1999; 100% air‑conditioned interior
