Flex Building with Drive-In
For Sale
$206,000
110-1000 N Rand Rd, Wauconda, IL
Combination office and warehouse layout with a private bathroom and utility sink.
Property Size1,761 SF
Price / SF$116.98
Days on Market9
Property Features for 110-1000 N Rand Rd
General Information
Standard status
Active
Size
1,761 SF
Additional Details
Drive-In Doors
1
Amenities
private bathroom
washer and dryer
utility sink
Building Details
Buildings
1
Building Size
1,761 SF
Listing Agency:
Baird & Warner
(847) 372-0154
Listed By:
Maria Metzler, CSC
(847) 372-0154
Source:
Exprealty
Added: Aug 24
Changed: Aug 31
Last Checked: Aug 31 at 7:27PM
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 Baird & Warner
Investment Insights
Based on property information with market context.
This 1,761-square-foot flex property combines professional office space with warehouse space in a practical commercial configuration. A rear drive-in garage door serves the warehouse area, while the building also includes a private bathroom, washer and dryer, and utility sink.
Located at 110-1000 N Rand Rd in Wauconda, the property is positioned just off Rand Road. The layout supports office, storage, warehouse, and service-oriented operations within a single commercial building.
Located at 110-1000 N Rand Rd in Wauconda, the property is positioned just off Rand Road. The layout supports office, storage, warehouse, and service-oriented operations within a single commercial building.
Key Highlights
- 1,761‑square‑foot commercial industrial building
- Combined office and warehouse configuration
- Rear drive‑in garage door provides warehouse access
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
$10,287
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
4.99%
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%
$205,740
$205.7K
Cap Rate 7%
$146,957
$147.0K
Cap Rate 9%
$114,300
$114.3K
Market Conditions
NOI Build-Up for 1,761 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
$16.7K $9.48/SF
− Vacancy
−$868 −$0.49/SF
EGI
$15.8K $8.99/SF
− OpEx
−$5.5K −$3.15/SF
NOI
$10.3K $5.84/SF
Area
Lake County, IL
Vacancy
5.20%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
35.00%
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%
$205,740
Cap Rate 7%
$146,957
Cap Rate 9%
$114,300
Alternative Uses
Best Use
Office B
$346.9K
$303.5K – $404.7K
NOI $24,281 @ 7.0% cap · market cap 11.79%
Second Best
Flex RnD
$147.0K
$128.6K – $171.5K
NOI $10,287 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$608.0K
$532.0K – $709.3K
NOI $42,560 @ 7.0% cap · market cap 20.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
603
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
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
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Frequently Asked Questions
What type of property is this?
Flex space - Combination office and warehouse layout with a private bathroom and utility sink.
Where is this flex space located?
The property is located at 110-1000 N Rand Rd Wauconda, IL.
What is the asking price?
The asking price for this property is $206,000.
What are key features of this property?
This property features: 1,761‑square‑foot commercial industrial building; Combined office and warehouse configuration; Rear drive‑in garage door provides warehouse access
