Remodeled Flex
For Sale
$189,900
Pending
1000 N Rand Road #202, Wauconda, IL 60084
Open commercial layout with office, kitchen area, updated bathroom, and convenient parking.
Property Size15,000 SF
Days on Market16
Property Features for 1000 N Rand Road #202
General Information
Standard status
Pending
Size
15,000 SF
Property subtype
Commercial
Zoning
COMMR
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,165
Building Details
Building Size
15,000 SF
Year Built
1985
Stories
1
Units
1
Listing Agency:
Results Realty USA
(847) 395-2333
Listed By:
Kasjana Zaluski · License #475169556
Source:
Jjillrealtygroup
Added: Aug 15
Changed: Aug 29
Last Checked: Aug 29 at 1:53PM
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 Results Realty USA
Investment Insights
Based on property information with market context.
This 1,700 sq ft commercial flex unit occupies space within a commercial flex building at 1000 N Rand Road #202. The interior has been fully remodeled with an open main room, a separate front office, updated bathroom, kitchen area, large storage closet, new flooring, and fresh paint. A standard commercial entrance serves the unit; there is no overhead door. The adaptable arrangement supports office, showroom, studio, service, contractor, and light industrial uses identified for the property.
The unit fronts Rand Road, also designated Route 12, near the Bonner traffic light in Wauconda. The corridor reports traffic exceeding 30,000 vehicles per day, with convenient access and on-site parking. The building was constructed in 1985 and carries COMMR zoning.
The unit fronts Rand Road, also designated Route 12, near the Bonner traffic light in Wauconda. The corridor reports traffic exceeding 30,000 vehicles per day, with convenient access and on-site parking. The building was constructed in 1985 and carries COMMR zoning.
Key Highlights
- 1,700 sq ft commercial flex unit
- Fully remodeled interior with new flooring and fresh paint
- Open main area plus separate front office with barn‑door divider
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
$17,386
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
9.16%
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%
$347,720
$347.7K
Cap Rate 7%
$248,371
$248.4K
Cap Rate 9%
$193,178
$193.2K
Market Conditions
NOI Build-Up for 1,700 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
$25.5K $15.00/SF
− Vacancy
−$663 −$0.39/SF
EGI
$24.8K $14.61/SF
− OpEx
−$7.5K −$4.38/SF
NOI
$17.4K $10.23/SF
Area
Lake County, IL
Vacancy
2.60%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$347,720
Cap Rate 7%
$248,371
Cap Rate 9%
$193,178
Alternative Uses
Best Use
Office B
$334.9K
$293.0K – $390.7K
NOI $23,440 @ 7.0% cap · market cap 12.34%
Second Best
Retail
$248.4K
$217.3K – $289.8K
NOI $17,386 @ 7.0% cap · market cap 9.16%
Theoretical Best
Office A
$586.9K
$513.6K – $684.8K
NOI $41,085 @ 7.0% cap · market cap 21.64%
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
Location Intelligence
Trade Area within ½ mile
606
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60084, IL
17,029
Population
6,811
Households
2.5
Avg Household Size
41
Median Age
38%
College-Educated
92%
High-School Grad
14.0 sq mi
ZIP Area
1,216
Density / Sq Mi
$104,907
Median Household Income
$54,244
Median Earnings
$1,267
Median Rent
$283,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Open commercial layout with office, kitchen area, updated bathroom, and convenient parking.
Where is this flex space located?
The property is located at 1000 N Rand Road #202 Wauconda, IL.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: 1,700 sq ft commercial flex unit; Fully remodeled interior with new flooring and fresh paint; Open main area plus separate front office with barn‑door divider
