Corner Flex Space with Open
For Sale
$515,000
6363 W Lincoln Hwy, Matteson, IL 60443
Adaptable commercial space includes enclosed rooms, a restroom, and upgraded electrical service for varied build-out plans.
Property Size5,856 SF
Price / SF$87.94
Days on Market27
Property Features for 6363 W Lincoln Hwy
General Information
Standard status
Active
Size
5,856 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Power
400 amps
Building Details
Year Built
1977
Buildings
1
Listing Agency:
Real People Realty
(708) 634-0103
Listed By:
Marsha Green · License #475157457
Source:
Liveliferealty
Added: Aug 2
Changed: Aug 27
Last Checked: Aug 25 at 5:02AM
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 Real People Realty
Investment Insights
Based on property information with market context.
This flex space contains almost 6,000 square feet, including an open central area exceeding 3,000 square feet and three adjoining rooms. Enclosed former exterior access areas add usable interior space for offices, storage, seating, or other operational needs. A skylit enclosed area provides an atrium-style setting, while an existing restroom and new 400-amp electrical service support future customization. The building was constructed in 1977.
Positioned on the corner of Route 30, also known as Lincoln Highway, and Ridgeland Avenue, the property records approximately 20,900 vehicles per day on Lincoln Highway and 7,600 vehicles per day on Ridgeland Avenue. I-57 is 1 mile away, and I-80 is 4 miles away. Established residential subdivisions and an adjacent senior living community add surrounding activity.
Positioned on the corner of Route 30, also known as Lincoln Highway, and Ridgeland Avenue, the property records approximately 20,900 vehicles per day on Lincoln Highway and 7,600 vehicles per day on Ridgeland Avenue. I-57 is 1 mile away, and I-80 is 4 miles away. Established residential subdivisions and an adjacent senior living community add surrounding activity.
Key Highlights
- Almost 6,000 square feet of adaptable commercial space
- Open main area exceeding 3,000 square feet
- Three adjoining rooms plus enclosed former exterior access areas
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
$25,208
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
4.89%
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%
$504,160
$504.2K
Cap Rate 7%
$360,114
$360.1K
Cap Rate 9%
$280,089
$280.1K
Market Conditions
NOI Build-Up for 5,856 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
$37.9K $6.48/SF
− Vacancy
−$1.9K −$0.33/SF
EGI
$36.0K $6.15/SF
− OpEx
−$10.8K −$1.84/SF
NOI
$25.2K $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%
$504,160
Cap Rate 7%
$360,114
Cap Rate 9%
$280,089
Alternative Uses
Best Use
Flex RnD
$880.9K
$770.8K – $1.03M
NOI $61,664 @ 7.0% cap · market cap 11.97%
Second Best
Industrial
$360.1K
$315.1K – $420.1K
NOI $25,208 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$2.02M
$1.77M – $2.36M
NOI $141,527 @ 7.0% cap · market cap 27.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
138
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60443, IL
21,309
Population
8,672
Households
2.5
Avg Household Size
43
Median Age
38%
College-Educated
93%
High-School Grad
11.3 sq mi
ZIP Area
1,886
Density / Sq Mi
$93,941
Median Household Income
$57,463
Median Earnings
$1,377
Median Rent
$229,000
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 - Adaptable commercial space includes enclosed rooms, a restroom, and upgraded electrical service for varied build-out plans.
Where is this flex space located?
The property is located at 6363 W Lincoln Hwy Matteson, IL.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Almost 6,000 square feet of adaptable commercial space; Open main area exceeding 3,000 square feet; Three adjoining rooms plus enclosed former exterior access areas
