Fulton Warehouse with High
For Sale
Contact for pricing
13th Ave 3RD Street, Fulton, IL 61252
Large Fulton warehouse with high ceilings and overhead door.
Property Size4,890 SF
Price / SF$61.15
Days on Market673
Property Features for 13th Ave 3RD Street
General Information
Standard status
Active
Size
4,890 SF
Property subtype
Industrial
Zoning
Comme
Building Details
Buildings
1
Listing Agency:
Real Broker, LLC
(563) 200-5588
Listed By:
Megan Pieper · License #475.190601
Source:
Crexi
Added: Oct 17, 2024
Changed: Aug 20
Last Checked: Aug 20 at 2:06PM
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 Broker, LLC
Investment Insights
Based on property information with market context.
This large, solid building is located one block off the main street in Fulton. It features an estimated 30 ft. ceiling and a steel frame. The property includes a 12'8" x 14'9" automatic overhead door with keypad. Currently used for storage for a lawn care business, the property has lots of potential. The building has a property size of 4890 square feet. There is a triangular easement for the back side of this property (N. Side). All measurements are approximate and should be verified.
Key Highlights
- Large, solid building with estimated 30 ft. ceilings
- Steel frame construction
- 12'8" x 14'9" automatic overhead door with keypad access
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
$24,261
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
8.11%
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%
$485,220
$485.2K
Cap Rate 7%
$346,586
$346.6K
Cap Rate 9%
$269,567
$269.6K
Market Conditions
NOI Build-Up for 4,890 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
$36.7K $7.50/SF
− Vacancy
−$2.0K −$0.41/SF
EGI
$34.7K $7.09/SF
− OpEx
−$10.4K −$2.13/SF
NOI
$24.3K $4.96/SF
Area
Whiteside County, IL
Vacancy
5.50%
Lease Rate
$7.50 /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%
$485,220
Cap Rate 7%
$346,586
Cap Rate 9%
$269,567
Alternative Uses
Best Use
Warehouse
$420.8K
$368.2K – $491.0K
NOI $29,459 @ 7.0% cap · market cap 9.85%
Second Best
Industrial
$346.6K
$303.3K – $404.4K
NOI $24,261 @ 7.0% cap · market cap 8.11%
Theoretical Best
Specialty Retail
$914.8K
$800.4K – $1.07M
NOI $64,035 @ 7.0% cap · market cap 21.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
262
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 61252, IL
5,436
Population
2,772
Households
2
Avg Household Size
45
Median Age
19%
College-Educated
89%
High-School Grad
58.7 sq mi
ZIP Area
93
Density / Sq Mi
$62,202
Median Household Income
$40,943
Median Earnings
$946
Median Rent
$143,400
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?
Warehouse - Large Fulton warehouse with high ceilings and overhead door.
Where is this warehouse located?
The property is located at 13th Ave 3RD Street Fulton, IL.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Large, solid building with estimated 30 ft. ceilings; Steel frame construction; 12'8" x 14'9" automatic overhead door with keypad access
