Building Details

Year Built 1924

Listing Agency: RE/MAX Plaza

Listed By: Elise Livingston · License #471008028 Show Phone

Source: Liveliferealty

Added: Aug 17 Changed: Oct 10 Last Checked: Oct 7 at 1:16PM

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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 RE/MAX Plaza

Investment Insights

Based on property information with market context.

This 7,821-square-foot storefront property presents an open interior within a building constructed in 1924. The asset is identified for retail, food, and beverage uses, providing a flexible commercial setting for occupants seeking a prominent in-town location.

The building occupies the corner of Main Street, also designated US Route 12, and Mill Street at 10400 Main St in Richmond, Illinois. Its position overlooks Nippersink Creek, adding a distinctive natural setting to the property. IDOT reports a daily traffic count of 13,200 for the area.

Key Highlights

• 7,821‑square‑foot open‑interior storefront building
• Retail, food, and beverage uses identified
• Corner position at Main Street and Mill Street

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$75,469

Cap Rate

7.94%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,509,380 $1.5M

Cap Rate 7%

$1,078,129 $1.1M

Cap Rate 9%

$838,544 $838.5K

Market Conditions

NOI Build-Up for 7,821 SF

Gross rent

$117.3K $15.00/SF

− Vacancy

−$9.5K −$1.22/SF

EGI

$107.8K $13.79/SF

− OpEx

−$32.3K −$4.14/SF

NOI

$75.5K $9.65/SF

Area

McHenry County, IL

Vacancy

8.10%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,509,380

Cap Rate 7%

$1,078,129

Cap Rate 9%

$838,544

Alternative Uses

Best Use

Retail

$1.08M

$943.4K – $1.26M (±1% cap)

NOI $75,469 @ 7.0% cap · market cap 7.94%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.70M

$2.36M – $3.15M (±1% cap)

NOI $189,016 @ 7.0% cap · market cap 19.90%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Real Estate Agency Building Supply Parking Lot & Garage Big Box & Wholesale Store Pharmacy Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

13,200 VPD

Traffic count

Location Intelligence

Trade Area within ½ mile

231

Businesses Nearby

41k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 90% Shops & Services 10%

McDonald's Dining

24,075 visits/mo 0.3 miles

Taco Bell Dining

9,372 visits/mo 0.4 miles

BP Shops & Services

3,903 visits/mo 0.4 miles

SUBWAY Dining

2,147 visits/mo 0.3 miles

Papa Saverio's Pizzeria Dining

1,376 visits/mo 0.3 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

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - Open-interior building identified for retail, food, and beverage uses.

Where is this storefront property located?

The property is located at 10400 Main St Richmond, IL.

What is the asking price?

The asking price for this property is $950,000.

What are key features of this property?

This property features: 7,821‑square‑foot open‑interior storefront building; Retail, food, and beverage uses identified; Corner position at Main Street and Mill Street