Flex Space with Shop
For Sale
$349,000
905 Central Street, Marion, IL 62959
Climate-controlled flex facility with production-oriented improvements, office space, storage, and separate shop access.
Property Size5,000 SF
Price / SF$69.80
Days on Market55
Property Features for 905 Central Street
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Commercial
Warehouse & Industrial
Drive-In Doors
4
Voltage
220 V
Taxes and HOA fees
Annual Taxes
$3,101
Building Details
Building Size
5,000 SF
Buildings
1
Construction
concrete
Listing Agency:
HOUSE 2 HOME REALTY
(618) 713-5314
Listed By:
Aaron Coon
(618) 713-5314
Source:
Shawneehillsrealestate
Added: Jul 7
Changed: Aug 29
Last Checked: Aug 1 at 5:51AM
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 HOUSE 2 HOME REALTY
Investment Insights
Based on property information with market context.
This approximately 5,000-square-foot flex facility combines a climate-controlled shop with finished office space and practical support areas. Radiant in-floor heating is supplied by a dedicated boiler, and insulated walls help maintain consistent interior conditions. The shop includes four oversized garage doors, including two electric units, along with floor drains, extensive lighting, a compressor room, and installed air lines. A 220 electric service supports equipment-intensive operations. Additional features include loft storage, a separate storage room, and wall shelving. The office connects through a vestibule that also provides access to the shop, while a second entrance leads directly into the work area. A 3/4 bathroom with shower adds convenience for daily use.
Key Highlights
- Approximately 5,000 square feet of flex space in Marion, IL
- Four oversized garage doors, including two electric units
- 220 electric service with compressor room and installed air lines
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
$28,715
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
8.23%
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%
$574,300
$574.3K
Cap Rate 7%
$410,214
$410.2K
Cap Rate 9%
$319,056
$319.1K
Market Conditions
NOI Build-Up for 5,000 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
$47.4K $9.48/SF
− Vacancy
−$3.2K −$0.64/SF
EGI
$44.2K $8.84/SF
− OpEx
−$15.5K −$3.09/SF
NOI
$28.7K $5.74/SF
Area
Williamson County, IL
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
35.00%
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%
$574,300
Cap Rate 7%
$410,214
Cap Rate 9%
$319,056
Alternative Uses
Best Use
Flex RnD
$410.2K
$358.9K – $478.6K
NOI $28,715 @ 7.0% cap · market cap 8.23%
Second Best
Industrial
$361.0K
$315.9K – $421.2K
NOI $25,272 @ 7.0% cap · market cap 7.24%
Theoretical Best
Office A
$1.05M
$922.3K – $1.23M
NOI $73,786 @ 7.0% cap · market cap 21.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Drive-in doors
Location Intelligence
Trade Area within ½ mile
1,073
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 62959, IL
27,629
Population
12,997
Households
2.1
Avg Household Size
43
Median Age
28%
College-Educated
92%
High-School Grad
143.0 sq mi
ZIP Area
193
Density / Sq Mi
$69,914
Median Household Income
$44,145
Median Earnings
$895
Median Rent
$166,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- A Taste Of Bev LLC — 1111 N Van Buren St, Marion, IL 62959
Frequently Asked Questions
What type of property is this?
Flex space - Climate-controlled flex facility with production-oriented improvements, office space, storage, and separate shop access.
Where is this flex space located?
The property is located at 905 Central Street Marion, IL.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Approximately 5,000 square feet of flex space in Marion, IL; Four oversized garage doors, including two electric units; 220 electric service with compressor room and installed air lines
