Maywood Mixed-Use Commercial
For Sale
Contact for pricing
409 Lake St, Maywood, IL
Commercial mixed-use building with development potential in vibrant Maywood.
Property Size2,000 SF
Lot Size0.04 Acres
Price / SF$310
Days on Market599
Property Features for 409 Lake St
General Information
Standard status
Active
Size
2,000 SF
Lot size
0.04 Acres
Property subtype
RETAIL
Listing Agency:
@Properties | Chicago (North)
(773) 772-0200
Listed By:
Kevin J. Rocio · License #IL475.128895
(312) 972-4381
Source:
Moodyscre
Added: Dec 17, 2024
Changed: Aug 8
Last Checked: Aug 8 at 5:18AM
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 @Properties | Chicago (North)
Investment Insights
Based on property information with market context.
The property at 401-409 Lake Street in Maywood is a commercial mixed-use building with masonry construction. The approximately 2,000-square-foot building sits on a 9,012.90-square-foot lot. It includes a 3-story commercial mixed-use building, a parking lot, and a small, approximately 600-square-foot brick commercial building, with additional land suitable for potential commercial development. The first floor features a retail showroom currently configured as a tire repair shop, along with two residential units on the upper floors. A paved side and rear drive provides loading access and parking for over 20 vehicles. The tire shop has a 10-year lease and pays $1,000 per month. The second-floor apartment, a 2-bed, 1-bath unit, has a lease that started on September 1, 2022, and generates $1,150 in monthly rent. The third-floor 1-bed, 1-bath unit is leased for $850 per month. Zoned C-2 Pedestrian-Oriented Commercial, the property is within walking distance of the Maywood Metra stop and near area expressways. This property presents an opportunity for investors, developers, or end-users to acquire a mixed-use building in the Maywood shopping district. The location sees approximately 9,400 vehicles per day (VPD) and is just east of the intersection of 5th and Lake Street. Area retailers and restaurants include Walgreens, Taqueria El Duranguito, Maywood Express, Legends Grill and Music venue, and Panaderia Puebla.
Key Highlights
- Mixed‑use building with existing income streams from a retail tenant and two residential units.
- Large 9,012.90 SQ FT lot with additional land for potential commercial development.
- C‑2 Pedestrian‑Oriented Commercial zoning in a vibrant shopping district.
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
$33,750
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
5.44%
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%
$675,000
$675.0K
Cap Rate 7%
$482,143
$482.1K
Cap Rate 9%
$375,000
$375.0K
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
$60.0K $30.00/SF
− Vacancy
−$6.0K −$3.00/SF
EGI
$54.0K $27.00/SF
− OpEx
−$20.3K −$10.13/SF
NOI
$33.8K $16.88/SF
Area
Cook County, IL
Vacancy
10.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$675,000
Cap Rate 7%
$482,143
Cap Rate 9%
$375,000
Alternative Uses
Best Use
Mixed Use
$482.1K
$421.9K – $562.5K
NOI $33,750 @ 7.0% cap · market cap 5.44%
Second Best
Retail
$396.6K
$347.0K – $462.7K
NOI $27,760 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$690.5K
$604.2K – $805.6K
NOI $48,336 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
756
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial mixed-use building with development potential in vibrant Maywood.
Where is this mixed-use property located?
The property is located at 409 Lake St Maywood, IL.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: Mixed‑use building with existing income streams from a retail tenant and two residential units.; Large 9,012.90 SQ FT lot with additional land for potential commercial development.; C‑2 Pedestrian‑Oriented Commercial zoning in a vibrant shopping district.
