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    Barrington Commercial Space For Rent Title is generated by Realmo AI

    148 S Northwest Highway, Barrington, IL 60010

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    COMMERCIAL - Barrington, IL

    Type:Office
    Property size:
    1,702 SF
    Lot size:
    0.40 Acres
    Added:
    Oct 13, 2024
    Days on Market:
    581
    Last Refresh:
    May 16 at 7:06 pm

    Property Features for 148 S Northwest Highway

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Zoning
    COMMR
    Standard status
    Active
    Size
    1,702 SF
    Lot size
    0.40 Acres

    Utilities

    Utilities
    Water Available
    Cooling system
    Central Air

    Building Details

    Year built
    1960
    Number of units
    1
    Flooring type
    Carpet
    Building materials
    Brick, Stone

    We can help!

    Listing Contact
    Cassie Hillinger

    Listing agent Cassie Hillinger License #471000332

    Listing office Keller Williams Success Realty 600 Hart Road, Suite 105, Barrington, IL

    Listing date Oct 13, 2024

    MLS# 12170703

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • All inclusive rent covering all major expenses.
    • High traffic location on Northwest Highway.
    • Ample parking available.
    • Conveniently located near Metra train station.
    • Adjacent to established businesses like Jimmy Johns and Starbucks.
    • Ground floor unit in a mixed‑use building.

    Overview

    This commercial space is located on the ground floor of a three-story brick building in Barrington, IL. The available unit sizes range from 1057 to 1702 square feet. The building houses a mix of retail and office tenants. The property benefits from a high-traffic location on Northwest Highway, with a traffic count of 20,700. It is situated adjacent to Jimmy Johns, Starbucks, and Moretti's Bar & Grill, and across from a CVS. The location is near the Metra train station (800 steps) and the Barrington Central Business District. Ample parking is available on two levels, with a total of 34 parking spots. Rent includes heat, AC, electric, refuse, water, parking, CAM, building maintenance, and taxes. Tenants are responsible for their own cable, phone, internet, and tenant insurance. Additional signage is available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    KLM Insurance Agency, ... Insurance Agency Timekeepers Inc (Bike/Boat/Book/etc) Store Doan Counseling Psychotherapist Remedy Therapeutic Massage Alternative Medicine Practice Natural Serenity Gym & Fitness Center

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Barrington
    County
    Cook
    State
    Illinois
    Longitude
    -88.12873
    Latitude
    42.152494

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    FAQs

    What type of property is this?
    Office units - Ground floor retail/office space in a high-traffic location.
    Where is this office units located?
    The property is located at 148 S Northwest Highway Barrington, IL.
    What are key features of this property?
    This property features: All inclusive rent covering all major expenses.; High traffic location on Northwest Highway.; Ample parking available.
    (847) 381-9500
    We can help!
    Listing Contact
    Cassie Hillinger
    Real Estate License ID: 471000332
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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