Industrial Warehouse With Grade-Level
New
For Sale
$1,900,000
702 Valentin Dr, Round Lake, IL 60073
Metal-construction warehouse in an industrial park with direct access to regional transportation routes.
Property Size19,940 SF
Lot Size0.94 Acres
Price / SF$95.29
Days on Market4
Property Features for 702 Valentin Dr
General Information
Standard status
Active
Size
19,940 SF
Lot size
0.94 Acres
Property subtype
Single-Tenant Industrial
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
2
Additional Details
Highway Access
Yes
Amenities
Owner-Occupied 19,940-Square-Foot Industrial Asset Situated on 0.94 Acres
Featuring Metal Construction, 16' Clear Height, and Two 16' Grade-Level Doors
Short-Term Sale-Leaseback with Phillips' Boat Storage at $4.81 per Square Foot on Modified Gross Terms Through May 2027, Creating Lease-Up Opportunity
Situated in Round Lake Industrial Park | Ideal for Contractors, Small Businesses, and Light Manufacturing
Located Along IL 134 with Proximity to IL 83 and U.S. 12
Outperforming North Lake Submarket: 5.8 Percent Vacancy Rate & 4.8 Percent Rent Growth in Q2 2026 vs. National Averages of 7.8 Percent and 1.5 Percent
Building Details
Building Size
19,940 SF
Year Built
2002
Construction
metal
Listing Agency:
Marcus & Millichap - Dallas
(312) 327-5499
Listed By:
Alexander Zlotnik · License #License(s): IL: 475212760
(312) 327-5499
Source:
Marcusmillichap
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 4:37AM
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 Marcus & Millichap - Dallas
Investment Insights
Based on property information with market context.
This 19,940-square-foot warehouse occupies 0.94 acres in Round Lake Industrial Park. Built in 2002, the metal-construction facility provides 16-foot clear height and two 16-foot grade-level doors. The property is currently occupied by the seller’s boat-storage operation, and a modified gross sale-leaseback through May 2027 is planned at closing.
The facility fronts Illinois Route 134 and offers proximity to Illinois Route 83 and U.S. Route 12. Its industrial setting and loading configuration support warehouse, contractor, small-business, and light-manufacturing uses identified for the property. The asset is located within the North Lake County industrial submarket, which includes manufacturing, logistics, and distribution activity.
The facility fronts Illinois Route 134 and offers proximity to Illinois Route 83 and U.S. Route 12. Its industrial setting and loading configuration support warehouse, contractor, small-business, and light-manufacturing uses identified for the property. The asset is located within the North Lake County industrial submarket, which includes manufacturing, logistics, and distribution activity.
Key Highlights
- 19,940 square feet of industrial warehouse space on 0.94 acres
- 16‑foot clear height with two 16‑foot grade‑level doors
- Metal‑construction facility built in 2002
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
$104,228
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
5.49%
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%
$2,084,560
$2.1M
Cap Rate 7%
$1,488,971
$1.5M
Cap Rate 9%
$1,158,089
$1.2M
Market Conditions
NOI Build-Up for 19,940 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
$129.2K $6.48/SF
− Vacancy
−$6.6K −$0.33/SF
EGI
$122.6K $6.15/SF
− OpEx
−$18.4K −$0.92/SF
NOI
$104.2K $5.23/SF
Area
Lake County, IL
Vacancy
5.10%
Lease Rate
$6.48 /SF/Yr
Expense Ratio
15.00%
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%
$2,084,560
Cap Rate 7%
$1,488,971
Cap Rate 9%
$1,158,089
Alternative Uses
Best Use
Warehouse
$1.49M
$1.30M – $1.74M
NOI $104,228 @ 7.0% cap · market cap 5.49%
Second Best
Industrial
$1.23M
$1.07M – $1.43M
NOI $85,835 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$6.88M
$6.02M – $8.03M
NOI $481,906 @ 7.0% cap · market cap 25.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
2
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
291
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60073, IL
61,721
Population
20,864
Households
3
Avg Household Size
34
Median Age
27%
College-Educated
81%
High-School Grad
18.5 sq mi
ZIP Area
3,336
Density / Sq Mi
$95,457
Median Household Income
$43,228
Median Earnings
$1,461
Median Rent
$215,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- AAA Safety Storage — 812 Sunset Dr, Round Lake, IL 60073
- ABW Self Storage Unit — 649 Railroad Ave, Round Lake, IL 60073
- Storage Express — 1298 Long Lake Dr, Round Lake Beach, IL 60073
Frequently Asked Questions
What type of property is this?
Warehouse - Metal-construction warehouse in an industrial park with direct access to regional transportation routes.
Where is this warehouse located?
The property is located at 702 Valentin Dr Round Lake, IL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 19,940 square feet of industrial warehouse space on 0.94 acres; 16‑foot clear height with two 16‑foot grade‑level doors; Metal‑construction facility built in 2002
