Industrial Outdoor Storage
943 & 976 Raytek Road Boone Belvidere, IL 61008
New
For Sale
$1,400,000
Industrial property on 8.43 acres with an office building, warehouse, and outdoor storage/recycling use, zoned I-2.
Property Size7,500 SF
Lot Size8.43 Acres
Price / SF$186.67
Days on Market3
Property Features for 943 & 976 Raytek Road Boone
General Information
- Standard status
- Active
- Size
- 7,500 SF
- Lot size
- 8.43 Acres
- Property subtype
- Land
Listing Agency:
(773) 957-1442
Listed By:
Elise Couston, SIOR
Source:
Nmrk
Added: Jul 22
Changed: Jul 23
Last Checked: Jul 24 at 6:48AM
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 Elise Couston, SIOR
Investment Insights
Based on property information with market context.
This industrial property consists of approximately 8.43 acres and includes an office building sized at 2,500 SF and a warehouse sized at 5,000 SF. The current use is listed as an outdoor storage and recycling center, supporting a work-yard style setup on site.
The property is zoned I-2 Industrial. It is located at 943 & 976 Raytek Road in Boone County, IL 61008.
The property is zoned I-2 Industrial. It is located at 943 & 976 Raytek Road in Boone County, IL 61008.
Key Highlights
- 8.43‑acre industrial property with office, warehouse, and outdoor storage/recycling area
- Office building totaling 2,500 SF
- Warehouse totaling 5,000 SF
Financial Insights For Office B
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 | $157.5k | $21.00 |
| − Vacancy | −$21.7k | −$2.90 |
| EGI | $135.8k | $18.10 |
| − OpEx | −$33.9k | −$4.53 |
| NOI | $101.8k | $13.58 |
7,500 SF · lease $21.00/SF/yr · vacancy 13.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.45M
$1.27M – $1.70M
NOI $101,824 @ 7.0% cap · market cap 7.27%
Second Best
Warehouse
$1.33M
$1.16M – $1.55M
NOI $92,986 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$1.99M
$1.75M – $2.33M
NOI $139,644 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
Similar Off Market Nearby
- Garden Prairie Grain — 8791 IL-76, Belvidere, IL 61008
FAQs
What type of property is this?
Warehouse - Industrial property on 8.43 acres with an office building, warehouse, and outdoor storage/recycling use, zoned I-2.
Where is this warehouse located?
The property is located at 943 & 976 Raytek Road Boone Belvidere, IL.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 8.43‑acre industrial property with office, warehouse, and outdoor storage/recycling area; Office building totaling 2,500 SF; Warehouse totaling 5,000 SF
