Remodeled Flex Space with
For Sale
$189,900
1000 N Rand Road #202, Wauconda, IL 60084
Fully remodeled commercial unit with open workspace, front office, kitchen area, and updated bathroom.
Property Size15,000 SF
Price / SF$111.71
Days on Market41
Property Features for 1000 N Rand Road #202
General Information
Standard status
Active
Size
15,000 SF
Property subtype
Commercial
Zoning
COMMR
Additional Details
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
(847) 395-2333
Source:
Allinonerealestateco
Added: Jul 9
Changed: Aug 16
Last Checked: Aug 17 at 11:19PM
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 flex unit was fully remodeled and configured with a broad central area, a separate front office, and a standard commercial entrance. Improvements include new flooring, fresh paint, a renovated bathroom, and a kitchen area accompanied by a large storage closet. The layout can support office, showroom, studio, service business, contractor headquarters, or light industrial operations. There is no overhead door.
The property is at 1000 N Rand Road #202 in Wauconda, directly along Rand Road (Route 12) near the Bonner traffic light. The corridor records over 30,000 vehicles per day and provides convenient access with parking at the commercial flex building. Constructed in 1985, the unit offers a functional combination of workspace, customer-facing area, and private office space.
The property is at 1000 N Rand Road #202 in Wauconda, directly along Rand Road (Route 12) near the Bonner traffic light. The corridor records over 30,000 vehicles per day and provides convenient access with parking at the commercial flex building. Constructed in 1985, the unit offers a functional combination of workspace, customer-facing area, and private office space.
Key Highlights
- 1,700 sq ft fully remodeled flex unit
- Open main area with separate front office and barn‑door divider
- Updated bathroom, kitchen area, storage closet, new flooring, and fresh paint
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
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 - Fully remodeled commercial unit with open workspace, front office, kitchen area, and updated bathroom.
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 fully remodeled flex unit; Open main area with separate front office and barn‑door divider; Updated bathroom, kitchen area, storage closet, new flooring, and fresh paint
