Warehouse Building with Three
708 S State St Westville, IL 61883
708 S State St, Westville, IL, 61883
$210,000
Pending
For Sale
$210,000
Pending
Warehouse includes electricity, sanitation services, and three side-street entries for convenient access.
Property Size1,500 SF
Days on Market501
Property Features for 708 S State St
General Information
- Standard status
- Pending
- Size
- 1,500 SF
- Property subtype
- Land
Listing agency
Crossroads Realty
(217) 712-2378
Listed by
Zack Janis
(217) 712-2378
Source
Exprealty
Added: Mar 8, 2025 Updated: Jul 21 at 4:17AM Checked: Jul 21 at 4:17AM
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 Crossroads Realty
Investment Insights
Based on property information with market context.
This property consists of a 50 x 30 warehouse building with electricity on site and sanitation services available. The site is currently used as storage for two tenants and is positioned to support rental activity. A water meter has been placed on Route 1, helping streamline utilities for operations or further development.
Access is enhanced by three side street entries, providing multiple points for customers, clients, and suppliers. Essential utilities are available on site for day-to-day function. An additional site feature includes 500 yards of clean fill available on the premises, which may be relevant for planned improvements.
Access is enhanced by three side street entries, providing multiple points for customers, clients, and suppliers. Essential utilities are available on site for day-to-day function. An additional site feature includes 500 yards of clean fill available on the premises, which may be relevant for planned improvements.
Key Highlights
- 50 x 30 warehouse building with electricity and connected to sanitation services
- Water meter already placed on Route 1
- Three side‑street entries provide multiple access points for clients and suppliers
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $11.9k | $7.92 |
| − Vacancy | −$1.0k | −$0.68 |
| EGI | $10.9k | $7.24 |
| − OpEx | −$1.6k | −$1.09 |
| NOI | $9.2k | $6.15 |
1,500 SF · lease $7.92/SF/yr · vacancy 8.60% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$131.9K
$115.4K – $153.8K
NOI $9,230 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$292.2K
$255.7K – $340.9K
NOI $20,455 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Warehouses
FAQs
What type of property is this?
Warehouse - Warehouse includes electricity, sanitation services, and three side-street entries for convenient access.
Where is this warehouse located?
The property is located at 708 S State St Westville, IL.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: 50 x 30 warehouse building with electricity and connected to sanitation services; Water meter already placed on Route 1; Three side‑street entries provide multiple access points for clients and suppliers
