Turnkey Medical Office
For Sale
Contact for pricing
1000 S Randall Rd, Geneva, IL 60134
Turnkey medical office suite with exam, procedure, and recovery rooms, plus reception and natural light.
Property Size2,000 SF
Price / SF$192.50
Days on Market114
Property Features for 1000 S Randall Rd
General Information
Standard status
Active
Size
2,000 SF
Property subtype
OFFICE
Listing Agency:
Murray Commercial
(630) 244-3272
Listed By:
Jace Murray
(630) 244-3272
Source:
Moodyscre
Added: Apr 15
Changed: Jul 28
Last Checked: Aug 6 at 5:52AM
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 Murray Commercial
Investment Insights
Based on property information with market context.
This turnkey medical/therapy office suite includes exam rooms, procedure and recovery rooms, along with a reception area, a private office, and a storage room. The space features both front and back entries and is designed to support patient visits with dedicated areas throughout.
Located about 1.5 miles from Northwestern Medicine Delnor Hospital, the property is positioned for convenient access to a major healthcare destination.
Configured for medical use, the suite offers a clear mix of clinical and administrative spaces, with ample natural light and practical entry points to support day-to-day operations.
Located about 1.5 miles from Northwestern Medicine Delnor Hospital, the property is positioned for convenient access to a major healthcare destination.
Configured for medical use, the suite offers a clear mix of clinical and administrative spaces, with ample natural light and practical entry points to support day-to-day operations.
Key Highlights
- Turnkey 2,000+/- SF medical/therapy office suite
- Includes exam rooms, procedure rooms, and recovery rooms
- Reception area plus private office and storage room
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
$27,791
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
7.22%
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%
$555,820
$555.8K
Cap Rate 7%
$397,014
$397.0K
Cap Rate 9%
$308,789
$308.8K
Market Conditions
NOI Build-Up for 2,000 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
$50.4K $25.20/SF
− Vacancy
−$4.1K −$2.04/SF
EGI
$46.3K $23.16/SF
− OpEx
−$18.5K −$9.26/SF
NOI
$27.8K $13.90/SF
Area
Kane County, IL
Vacancy
8.10%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
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%
$555,820
Cap Rate 7%
$397,014
Cap Rate 9%
$308,789
Alternative Uses
Best Use
Healthcare Medical
$397.0K
$347.4K – $463.2K
NOI $27,791 @ 7.0% cap · market cap 7.22%
Second Best
Office B
$394.0K
$344.7K – $459.6K
NOI $27,577 @ 7.0% cap · market cap 7.16%
Theoretical Best
Office A
$690.5K
$604.2K – $805.6K
NOI $48,336 @ 7.0% cap · market cap 12.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
707
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60134, IL
30,503
Population
11,159
Households
2.7
Avg Household Size
42
Median Age
66%
College-Educated
97%
High-School Grad
14.6 sq mi
ZIP Area
2,089
Density / Sq Mi
$148,283
Median Household Income
$66,586
Median Earnings
$1,816
Median Rent
$427,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Turnkey medical office suite with exam, procedure, and recovery rooms, plus reception and natural light.
Where is this medical office space located?
The property is located at 1000 S Randall Rd Geneva, IL.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Turnkey 2,000+/- SF medical/therapy office suite; Includes exam rooms, procedure rooms, and recovery rooms; Reception area plus private office and storage room
