Storefront Property with Open
For Sale
$1,000,000
10709 N Main Street, Richmond, IL 60071
Leased storefront property with office areas, high-ceiling garage space, customer restrooms, and on-site parking.
Property Size8,258 SF
Days on Market205
Property Features for 10709 N Main Street
General Information
Standard status
Active
Size
8,258 SF
Property subtype
Commercial
Zoning
INDUS
Taxes and HOA fees
Annual Taxes
$9,015
Amenities
handicapped-accessible bathrooms
large on-site parking lot
expansive open garage space with high ceilings
private upstairs office
Building Details
Building Size
8,258 SF
Year Built
1960
Buildings
2
Stories
1
Units
4
Listing Agency:
Platinum Partners Realtors
(630) 435-3500
Listed By:
Sabrina Glover · License #475168174
(630) 435-3500
Source:
Midwestrealestate
Added: Feb 5
Changed: Aug 29
Last Checked: Aug 24 at 4:35AM
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 Platinum Partners Realtors
Investment Insights
Based on property information with market context.
This storefront property at 10709 N Main Street includes a customer-facing retail area, an open garage with high ceilings, and multiple office spaces. The layout includes a central office, a rear office, and a private office upstairs, supporting varied commercial operations. Four handicapped-accessible bathrooms serve the building, and an on-site parking lot is included. Constructed in 1960, the property carries INDUS zoning.
The building is subject to a signed five-year lease extending through October 2030. The rear office is currently used in connection with the adjacent ABC Storage business. The property is offered only as part of a combined acquisition with that adjacent storage property, rather than as a standalone sale.
The building is subject to a signed five-year lease extending through October 2030. The rear office is currently used in connection with the adjacent ABC Storage business. The property is offered only as part of a combined acquisition with that adjacent storage property, rather than as a standalone sale.
Key Highlights
- Signed five‑year lease runs through October 2030
- Open garage space with high ceilings
- Four handicapped‑accessible bathrooms
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
$79,686
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
7.97%
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%
$1,593,720
$1.6M
Cap Rate 7%
$1,138,371
$1.1M
Cap Rate 9%
$885,400
$885.4K
Market Conditions
NOI Build-Up for 8,258 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
$123.9K $15.00/SF
− Vacancy
−$10.0K −$1.22/SF
EGI
$113.8K $13.79/SF
− OpEx
−$34.2K −$4.14/SF
NOI
$79.7K $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 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%
$1,593,720
Cap Rate 7%
$1,138,371
Cap Rate 9%
$885,400
Alternative Uses
Best Use
Retail
$1.14M
$996.1K – $1.33M
NOI $79,686 @ 7.0% cap · market cap 7.97%
Second Best
Flex RnD
$704.3K
$616.3K – $821.7K
NOI $49,304 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$2.85M
$2.49M – $3.33M
NOI $199,578 @ 7.0% cap · market cap 19.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
202
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
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 Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Leased storefront property with office areas, high-ceiling garage space, customer restrooms, and on-site parking.
Where is this storefront property located?
The property is located at 10709 N Main Street Richmond, IL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Signed five‑year lease runs through October 2030; Open garage space with high ceilings; Four handicapped‑accessible bathrooms
