Flex Space with Warehouse
For Sale
$399,900
C-1904 Garnet Ct, New Lenox, IL 60451
Climate-controlled warehouse and office areas include upgraded LED lighting and dedicated heating and cooling systems.
Property Size3,160 SF
Price / SF$126.55
Days on Market12
Property Features for C-1904 Garnet Ct
General Information
Standard status
Active
Size
3,160 SF
Warehouse & Industrial
Clear Height
22 ft
Warehouse Space
2,269 SF
Office Build-Out
892 SF
Conditioned Warehouse
Yes
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,940
Building Details
Building Size
3,160 SF
Listing Agency:
Village Realty, Inc.
(708) 478-1212
Listed By:
James O'Sullivan
(815) 791-2311
Source:
Exprealty
Added: Oct 3
Changed: Oct 13
Last Checked: Oct 13 at 2:27AM
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 Village Realty, Inc.
Investment Insights
Based on property information with market context.
This flex property contains just over 3,160 square feet, divided between 892 square feet of office and shared space and a 2,269-square-foot warehouse with loft. The front area includes three offices, a kitchenette, common space, and a bathroom. Warehouse features include 18–22-foot ceilings, a 14-foot overhead door, a rear service door, and motion-activated LED lighting. Central air and forced-air heat serve the offices, with a hanging heater in the warehouse.
The property backs to I-80 and is 2 miles from the I-355 extension. Parking is available on site.
The property backs to I-80 and is 2 miles from the I-355 extension. Parking is available on site.
Key Highlights
- Just over 3,160 square feet total
- 892 sq. ft. across three front offices, kitchenette, common space, and bathroom
- 2,269 sq. ft. warehouse and loft with 18–22' ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,518
Cap Rate
4.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$330,360
$330.4K
Cap Rate 7%
$235,971
$236.0K
Cap Rate 9%
$183,533
$183.5K
Market Conditions
NOI Build-Up for 3,160 SF
Gross rent
$20.5K $6.48/SF
− Vacancy
−$1.0K −$0.33/SF
EGI
$19.4K $6.15/SF
− OpEx
−$2.9K −$0.92/SF
NOI
$16.5K $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 Rate 5%
$330,360
Cap Rate 7%
$235,971
Cap Rate 9%
$183,533
Alternative Uses
Best Use
Warehouse
$236.0K
$206.5K – $275.3K
NOI $16,518 @ 7.0% cap · market cap 4.13%
Second Best
Flex RnD
$212.4K
$185.9K – $247.8K
NOI $14,869 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$716.7K
$627.1K – $836.1K
NOI $50,168 @ 7.0% cap · market cap 12.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
22 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
123
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60451, IL
36,561
Population
12,972
Households
2.8
Avg Household Size
39
Median Age
42%
College-Educated
98%
High-School Grad
25.2 sq mi
ZIP Area
1,451
Density / Sq Mi
$132,260
Median Household Income
$63,418
Median Earnings
$1,304
Median Rent
$373,100
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 - Climate-controlled warehouse and office areas include upgraded LED lighting and dedicated heating and cooling systems.
Where is this flex space located?
The property is located at C-1904 Garnet Ct New Lenox, IL.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Just over 3,160 square feet total; 892 sq. ft. across three front offices, kitchenette, common space, and bathroom; 2,269 sq. ft. warehouse and loft with 18–22' ceilings
