Industrial Building with
For Sale
Contact for pricing
9128 Belmont Ave, Franklin Park, IL 60131
Approximately 25,000 sq. ft. industrial building with warehouse space, finished front office, and loading access.
Property Size25,000 SF
Lot Size1.16 Acres
Price / SF$90
Days on Market166
Property Features for 9128 Belmont Ave
General Information
Standard status
Active
Size
25,000 SF
Lot size
1.16 Acres
Property subtype
Retail
Warehouse & Industrial
Clear Height
15 ft
Drive-In Doors
2
Sprinkler System
Yes
Building Details
Year Built
1960
Year Renovated
2021
Stories
1
Listing Agency:
Network Real Estate Group
Listed By:
Neil Haleem · License #IL 37077037778HN
(708) 927-8000
Source:
Crexi
Added: Mar 23
Changed: Aug 22
Last Checked: Sep 2 at 3:09PM
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 Network Real Estate Group
Investment Insights
Based on property information with market context.
This approximately 25,000-square-foot industrial building sits on a 1.16-acre lot and is laid out for day-to-day operational use. The facility includes approximately 22,300 square feet of warehouse space paired with about 2,700 square feet of finished front office area. Ceiling heights in the warehouse range from approximately 12 to 15 feet, supporting a range of storage and workflow needs.
The property features a wide loading dock to support shipping and receiving, along with two overhead doors for convenient access for deliveries and equipment movement. A newer sprinkler system has been installed, adding to the building’s present-day readiness.
The office portion is positioned at the front to create a more professional entrance while separating administrative and client-facing functions from the warehouse floor. The site’s size provides room for parking and truck maneuvering, with potential for outdoor storage subject to zoning.
The property features a wide loading dock to support shipping and receiving, along with two overhead doors for convenient access for deliveries and equipment movement. A newer sprinkler system has been installed, adding to the building’s present-day readiness.
The office portion is positioned at the front to create a more professional entrance while separating administrative and client-facing functions from the warehouse floor. The site’s size provides room for parking and truck maneuvering, with potential for outdoor storage subject to zoning.
Key Highlights
- Approximately 25,000 sq. ft. industrial building on a 1.16‑acre lot with warehouse plus finished front office space
- 22,300 sq. ft. of warehouse space with ceiling heights of approximately 12 to 15 feet for racking and storage flexibility
- 2,700 sq. ft. finished front office area for administrative space, including potential reception, conference, and management 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
$130,677
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
5.81%
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%
$2,613,540
$2.6M
Cap Rate 7%
$1,866,814
$1.9M
Cap Rate 9%
$1,451,967
$1.5M
Market Conditions
NOI Build-Up for 25,000 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
$162.0K $6.48/SF
− Vacancy
−$8.3K −$0.33/SF
EGI
$153.7K $6.15/SF
− OpEx
−$23.1K −$0.92/SF
NOI
$130.7K $5.23/SF
Area
Cook 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%
$2,613,540
Cap Rate 7%
$1,866,814
Cap Rate 9%
$1,451,967
Alternative Uses
Best Use
Flex RnD
$3.76M
$3.29M – $4.39M
NOI $263,250 @ 7.0% cap · market cap 11.70%
Second Best
Warehouse
$1.87M
$1.63M – $2.18M
NOI $130,677 @ 7.0% cap · market cap 5.81%
Theoretical Best
Office A
$8.63M
$7.55M – $10.07M
NOI $604,195 @ 7.0% cap · market cap 26.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15 ft
Clear height
2
Drive-in doors
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
607
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60131, IL
18,205
Population
6,120
Households
3
Avg Household Size
39
Median Age
19%
College-Educated
77%
High-School Grad
5.4 sq mi
ZIP Area
3,371
Density / Sq Mi
$76,404
Median Household Income
$39,117
Median Earnings
$1,092
Median Rent
$261,800
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 - Approximately 25,000 sq. ft. industrial building with warehouse space, finished front office, and loading access.
Where is this flex space located?
The property is located at 9128 Belmont Ave Franklin Park, IL.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Approximately 25,000 sq. ft. industrial building on a 1.16‑acre lot with warehouse plus finished front office space; 22,300 sq. ft. of warehouse space with ceiling heights of approximately 12 to 15 feet for racking and storage flexibility; 2,700 sq. ft. finished front office area for administrative space, including potential reception, conference, and management areas
