Remodeled Commercial Flex
For Sale
Under Contract
$189,900
1000 N Rand Road, Wauconda, IL 60084
Commercial Sale, Wauconda, IL
Property Size1,700 SF
Price / SF$111.71
Days on Market57
Property Features for 1000 N Rand Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
COMMR
Directions
Located on Route 12, just south of Bonner Rd. West Side of the Street
Subdivision
Wauconda
Standard status
Active Under Contract
APN
09233000490000
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
4165
Utilities
Utilities
Cable Available
Cooling system
Central Air
Building Details
Year built
1985
Floors in Building
1
Number of units
1
Flooring type
Vinyl
Building materials
Brick
Listing Agency:
Results Realty USA
Listed By:
Kasjana Zaluski · License #475169556
(847) 395-2333
Added: Jul 9
Changed: Aug 19
Last Checked: Sep 3 at 3:06AM
MLS# 12700290
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.
This commercial flex unit is configured for adaptable business use, with an open main area, a separate front office, and a standard commercial entrance. The interior has been remodeled with new vinyl flooring and fresh paint, while the bathroom and kitchen area have been updated. A large storage closet adds practical support space. The unit does not include an overhead door.
Positioned along Rand Road (Route 12), the property is near the Bonner traffic light and benefits from exposure to a corridor carrying over 30,000 vehicles per day. Convenient parking and central air are included within the well-maintained commercial flex building. The property is zoned COMMR, features brick construction, and was built in 1985.
Positioned along Rand Road (Route 12), the property is near the Bonner traffic light and benefits from exposure to a corridor carrying over 30,000 vehicles per day. Convenient parking and central air are included within the well-maintained commercial flex building. The property is zoned COMMR, features brick construction, and was built in 1985.
Key Highlights
- Over 30,000 vehicles per day along Rand Road (Route 12)
- Near the Bonner traffic light
- Remodeled interior with new vinyl 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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Eduardo's International — 427 W Liberty St, Wauconda, IL 60084
Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial space with an open work area, private office, updated bathroom, kitchen area, and storage closet.
Where is this flex space located?
The property is located at 1000 N Rand Road 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: Over 30,000 vehicles per day along Rand Road (Route 12); Near the Bonner traffic light; Remodeled interior with new vinyl flooring and fresh paint
