Retail Space with Attached 2-Bedroom
For Sale
Under Contract
$224,990
8621 US Highway 12, Richmond, IL 60071
Commercial Sale, Richmond, IL
Property Size759 SF
Lot Size0.50 Acres
Price / SF$296.43
Days on Market239
Property Features for 8621 US Highway 12
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMR
Directions
West side of US Highway 12 just North of the 12/31 Intersection Very strong location
Subdivision
Richmond
Standard status
Active Under Contract
APN
0421100005
Lot size
0.50 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
7907
Utilities
Utilities
Natural Gas Available
Sewer type
Septic Tank
Cooling system
Central Air
Water source
Well
Amenities
storage
garage
basement
Prairie Trail access
Building Details
Year built
1940
Floors in Building
2
Number of units
2
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
HomeSmart Connect LLC · HomeSmart International
(847) 495-5000
Listed By:
Salvatore Soccorso · License #475144533
(847) 401-8000
Added: Jan 8
Changed: Aug 19
Last Checked: Sep 4 at 1:06AM
MLS# 12543727
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.
Investment Insights
Based on property information with market context.
Retail space with an attached 2-bedroom home on a 0.5-acre lot at 8621 US Highway 12 in Richmond, IL. The commercial portion includes a 23x33 commercial area with storage and space for a future bathroom. The commercial utilities are separately metered with newer 200 AMP electric in conduit, two meters, and two HVAC systems. The property also features central air, vinyl siding, a composition roof, a basement, and a 2-car garage.
The location is described as highly visible on heavily trafficked US RT 12 just north of the 12/31 intersection, with level access to the Prairie Trail. Zoning is provided as COMMR.
With a separately metered commercial portion, the property supports flexibility for day-to-day retail use alongside the attached residence. Buyer to conduct due diligence.
The location is described as highly visible on heavily trafficked US RT 12 just north of the 12/31 intersection, with level access to the Prairie Trail. Zoning is provided as COMMR.
With a separately metered commercial portion, the property supports flexibility for day-to-day retail use alongside the attached residence. Buyer to conduct due diligence.
Key Highlights
- 0.5‑acre retail property at 8621 US Highway 12 in Richmond, IL
- Highly visible location on US RT 12 just north of the 12/31 intersection
- COMMR zoning
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
$7,856
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
3.49%
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%
$157,120
$157.1K
Cap Rate 7%
$112,229
$112.2K
Cap Rate 9%
$87,289
$87.3K
Market Conditions
NOI Build-Up for 759 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
$13.7K $18.00/SF
− Vacancy
−$1.1K −$1.44/SF
EGI
$12.6K $16.56/SF
− OpEx
−$4.7K −$6.21/SF
NOI
$7.9K $10.35/SF
Area
McHenry County, IL
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$157,120
Cap Rate 7%
$112,229
Cap Rate 9%
$87,289
Alternative Uses
Best Use
Mixed Use
$112.2K
$98.2K – $130.9K
NOI $7,856 @ 7.0% cap · market cap 3.49%
Second Best
Retail
$104.6K
$91.6K – $122.1K
NOI $7,324 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$262.0K
$229.3K – $305.7K
NOI $18,343 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
6k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Citgo
Shops & Services
5,377 visits/mo
0.1 miles
Pantry
Shops & Services
908 visits/mo
0.1 miles
Demographics for 60071, IL
3,891
Population
2,161
Households
1.8
Avg Household Size
44
Median Age
28%
College-Educated
97%
High-School Grad
24.8 sq mi
ZIP Area
157
Density / Sq Mi
$77,593
Median Household Income
$43,164
Median Earnings
$1,189
Median Rent
$289,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail space on US Highway 12 with an attached 2-bedroom home, including separately metered commercial utilities and two HVAC systems.
Where is this mixed-use property located?
The property is located at 8621 US Highway 12 Richmond, IL.
What is the asking price?
The asking price for this property is $224,990.
What are key features of this property?
This property features: 0.5‑acre retail property at 8621 US Highway 12 in Richmond, IL; Highly visible location on US RT 12 just north of the 12/31 intersection; COMMR zoning
