Freestanding Manufacturing Facility with Box
For Sale
Contact for pricing
9325 Corsair Rd, Frankfort, IL 60423
Manufacturing facility in excellent condition with LED lighting and an 18-foot deep box pit used as a splitter pit.
Property Size22,052 SF
Price / SF$113.37
Days on Market375
Property Features for 9325 Corsair Rd
General Information
Standard status
Active
Size
22,052 SF
Property subtype
INDUSTRIAL
Additional Details
Highway Access
Yes
Listing Agency:
Katchen & Company
(303) 564-5387
Listed By:
Edward Boyle
(303) 564-5387
Source:
Moodyscre
Added: Jul 29, 2025
Changed: Jul 31
Last Checked: Aug 6 at 11:12AM
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 Katchen & Company
Investment Insights
Based on property information with market context.
Freestanding manufacturing facility in excellent condition with LED lighting in the plant and warehouse area. The manufacturing area includes an 18' deep box pit, currently used as a splitter pit, supporting manufacturing workflows that benefit from in-ground equipment access. The property also includes extra land that can be used for storage or for an addition.
The facility is located at 9325 Corsair Rd in an industrial park near I-57 and I-80, providing convenient access for day-to-day operations.
With its combination of manufacturing space, warehouse area with LED lighting, and additional land for storage or expansion, the property is positioned for tenants looking for an on-site manufacturing configuration with room to support current and future operations.
The facility is located at 9325 Corsair Rd in an industrial park near I-57 and I-80, providing convenient access for day-to-day operations.
With its combination of manufacturing space, warehouse area with LED lighting, and additional land for storage or expansion, the property is positioned for tenants looking for an on-site manufacturing configuration with room to support current and future operations.
Key Highlights
- 22,052 SF freestanding manufacturing facility
- LED lighting in plant and warehouse area
- 18' deep box pit in manufacturing area, currently used as a splitter pit
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
$115,268
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
4.61%
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%
$2,305,360
$2.3M
Cap Rate 7%
$1,646,686
$1.6M
Cap Rate 9%
$1,280,756
$1.3M
Market Conditions
NOI Build-Up for 22,052 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
$142.9K $6.48/SF
− Vacancy
−$7.3K −$0.33/SF
EGI
$135.6K $6.15/SF
− OpEx
−$20.3K −$0.92/SF
NOI
$115.3K $5.23/SF
Area
Will 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%
$2,305,360
Cap Rate 7%
$1,646,686
Cap Rate 9%
$1,280,756
Alternative Uses
Best Use
Warehouse
$1.65M
$1.44M – $1.92M
NOI $115,268 @ 7.0% cap · market cap 4.61%
Second Best
Industrial
$1.36M
$1.19M – $1.58M
NOI $94,926 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$5.00M
$4.38M – $5.83M
NOI $350,098 @ 7.0% cap · market cap 14.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
281
Businesses Nearby
Explore this area
Business Placement
Demographics for 60423, IL
32,784
Population
11,494
Households
2.9
Avg Household Size
42
Median Age
48%
College-Educated
97%
High-School Grad
37.9 sq mi
ZIP Area
865
Density / Sq Mi
$137,651
Median Household Income
$63,686
Median Earnings
$1,455
Median Rent
$376,500
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?
Manufacturing property - Manufacturing facility in excellent condition with LED lighting and an 18-foot deep box pit used as a splitter pit.
Where is this manufacturing property located?
The property is located at 9325 Corsair Rd Frankfort, IL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 22,052 SF freestanding manufacturing facility; LED lighting in plant and warehouse area; 18' deep box pit in manufacturing area, currently used as a splitter pit
