Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    501-515 E Algonquin Rd Algonquin, IL

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail building with two available units in Algonquin, Illinois.

    Property size:
    1,507 SF
    Lot size:
    1.65 Acres

    Property Features for 501-515 E Algonquin Rd

    General Information

    Size
    1,507 SF
    Lot size
    1.65 Acres

    We can help!

    Listing Contact
    Michael Petrik
    Source: Moodyscre

    Listing Agent: Michael Petrik

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Retail Space on Algonquin Road

    This 11,000 square foot retail building is situated directly on Algonquin Road (Illinois Route 62), just three blocks east of the downtown district and the Fox River, at the lighted intersection of Algonquin Road and Eastgate Drive. The location is across from McDonald’s, offering convenient access for local residents and traffic, especially westbound traffic during rush hour. Two units are available: a former 7-Eleven with a wide-open layout and a former liquor store that is fully built out and move-in ready. The end-cap unit has exclusive monument signage available. Other tenants in the building include a liquor store, nail salon, State Farm insurance, laundromat, and vape store. The property features 86 parking spaces and easy access to surrounding neighborhoods, including schools and libraries. Traffic on Algonquin Road averages 37,000 vehicles per day. The property is 29 miles from O’Hare Airport and 40 miles from the Chicago Loop. Algonquin has recently experienced economic growth, and the surrounding areas have a high household income, exceeding $100,000. One available unit is 2,473 square feet, and the endcap unit is 2,477 square feet and includes a small outdoor storage shed.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Algonquin
    County
    McHenry
    State
    Illinois
    Longitude
    -88.3287896
    Latitude
    42.1895773

    Nearby Similar for Lease

    • Contact for pricing

      Furnished Office Space in Algonquin

      Furnished office space with utilities included in Algonquin, Illinois.
      2390 Esplanade Dr, Algonquin, IL 60102
      View Details
    • Contact for pricing

      Upscale Office Space in Algonquin

      Professional office space with amenities in a prime location.
      2390 Esplanade Dr, Algonquin, IL 60102
      View Details
    • Contact for pricing

      Office Suite in Algonquin, IL

      Well-maintained office building with newer flooring, paint, and furniture.
      265 Stone Gate Rd, Algonquin, IL 60102
      View Details
    • New
      Contact for pricing
      10,890 SF

      Algonquin Office Space Available

      Second floor office with private offices and bathroom for rent.
      329 Jefferson St, Algonquin, IL 60102
      View Details
    • Contact for pricing
      2,042 SF

      Premier Lifestyle Destination in Algonquin

      Shopping, dining, and entertainment destination in Chicago's northwestern suburbs.
      1704-1748 S Randall Rd, Algonquin, IL
      View Details
    • Contact for pricing
      4,487 SF

      Premier Lifestyle Destination in Algonquin

      Shopping, dining, and entertainment destination in Chicago's northwestern suburbs.
      1816-2120 S Randall Rd, Algonquin, IL
      View Details
    • Contact for pricing
      3,658 SF

      Algonquin Commons Retail Opportunity

      Premier shopping, dining, and entertainment destination in Algonquin, Illinois.
      1604-1628 S Randall Rd, Algonquin, IL
      View Details
    • $18 SF/Yr
      10,221 SF

      Main Street Algonquin Retail Space

      Prime Retail & Office, Algonquin, IL
      1 Main St, Algonquin, IL 60102
      View Details
    • $15 SF/Yr
      1,920 SF

      Algonquin Retail Space For Rent

      Retail storefronts available in high-visibility Algonquin strip center.
      1107-1125 S Main St, Algonquin, IL
      View Details
    • Contact for pricing
      3,913 SF

      Retail Space on Randall Road

      Retail space available in high-traffic Algonquin shopping center.
      2375 S Randall Rd, Algonquin, IL
      View Details
    • Contact for pricing
      2,500 SF

      Algonquin Retail Space Available

      Prime Retail Space, 2500 sq ft, High Traffic
      702 Randall Rd, Algonquin, IL 60102
      View Details
    • $18 SF/Yr
      37,968 SF

      Prestwicke Plaza Retail Outparcels

      High-visibility retail space, multiple suites available
      3927 Algonquin Rd, Algonquin, IL 60102
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail building with two available units in Algonquin, Illinois.
    Where is this retail space located?
    The property is located at 501-515 E Algonquin Rd Algonquin, IL.
    What are key features of this property?
    This property features: - High-traffic location on Algonquin Road (IL Route 62) with 37,000 vehicles per day.; - Located at a lighted intersection across from McDonald's, ensuring high visibility and accessibility.; - Two available units: **a fully built-out, move-in-ready former liquor store and a former 7-Eleven with wide open space.**
    (773) 355-3048
    Request Owner's contact information
    501-515 E Algonquin Rd Algonquin, IL
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    501-515 E Algonquin Rd
    Algonquin, IL
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    501-515 E Algonquin Rd Algonquin, IL
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Michael Petrik
    (773) 355-3048
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.