Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    440 W Virginia St Crystal Lake, IL

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    High-profile commercial building suitable for single tenant or investor.

    Type:RETAIL
    Property size:
    5,195 SF
    Lot size:
    0.19 Acres
    Price / SF:
    $86/SF
    Added:
    Oct 20, 2023
    Days on Market:
    925
    Last Refresh:
    Apr 5 at 11:24 pm

    Property Features for 440 W Virginia St

    General Information

    Standard status
    Active
    Size
    5,195 SF
    Lot size
    0.19 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Tim Billimack

    Listing agent Tim Billimack

    Listing office Blue Chip Commercial

    Listing date Oct 20, 2023

    Source Moodyscre

    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 Blue Chip Commercial

    Overview

    Northwest Highway Commercial Building

    This high-profile commercial building is situated along Northwest Highway. It is ideal for single tenant occupancy, an end user/investor, or an investor. The property features a rear employee parking lot and a rear service door. The surrounding area is a mixed-use neighborhood with national and reputable independent restaurants. The area has an affluent population, with the average household income exceeding $96,000 within a 3-mile radius. The property size is 5,195 square feet.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Building Supply Gym & Fitness Center Big Box & Wholesale Store Accounting Firm Hotel & Motel Bar & Pub Kitchen & Bath Showroom

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

    Similar Places Nearby

    • Northwest Florist — 4 Crystal Lake Plaza, Crystal Lake, IL 60014

    Location Insight

    • Map
    • Local Demand
    City
    Crystal Lake
    County
    McHenry
    State
    Illinois
    Longitude
    -88.3142
    Latitude
    42.2732

    Nearby Similar for Sale

    • $550,000

      Crystal Lake Leased Investment Property

      Leased dentist office with NNN lease, ideal for investment.
      1500 CARLEMONT Drive, Crystal Lake, IL 60014
      View Details
    • $400,000

      Corner Office/Retail Suite Available

      Highly visible corner office/retail suite in Crystal Lake, Illinois.
      1540 Carlemont Drive, Crystal Lake, IL 60014
      View Details
    • $725,000

      Renovated Multifamily Investment Opportunity

      Fully leased, renovated 4-unit property on combined lots.
      85 E TERRA COTTA Avenue, Crystal Lake, IL 60014
      View Details
    • $399,000

      Crystal Lake Mixed-Use Property

      Mixed-use property for sale in Crystal Lake, Illinois.
      558 Eagle Street, Crystal Lake, IL 60014
      View Details
    • $949,900
      11,010 SF

      Two-Story Multi-Tenant Office Building

      Two-story office building with lease options and owner/user potential.
      970 McHenry Avenue, Crystal Lake, IL 60014
      View Details
    • $565,000
      4,630 SF

      Mixed-Use Building in Downtown

      Two-story mixed-use building with retail and meeting hall space.
      115-117 N Main Street, Crystal Lake, IL 60014
      View Details
    • $999,900
      11,010 SF

      Two-Story Multi-Tenant Office Building

      Two-story, multi-tenant office building with owner/user opportunity.
      970 S Mchenry Ave, Crystal Lake, IL
      View Details
    • $585,000

      Crystal Lake Multi-Family Property

      Multi-family property for sale in Crystal Lake, Illinois.
      627 Chardonnay Lane, Crystal Lake, IL 60014
      View Details
    • Contact for pricing
      3,931 SF

      Freestanding Burger King Restaurant

      Burger King restaurant on a major thoroughfare in Crystal Lake.
      250 W Virginia St, Crystal Lake, IL 60014
      View Details
    • $637,000
      7,500 SF

      Industrial Building with Leased Units

      7,500 SF industrial building with two units, leased until 2026.
      455-57 S DARTMOOR Drive, Crystal Lake, IL 60014
      View Details
    • $450,000
      5,195 SF

      High Profile Commercial Building

      Commercial building in mixed-use neighborhood with affluent population.
      440 W Virginia Street, Crystal Lake, IL 60014
      View Details
    • $665,000
      10,570 SF

      Crystal Lake Freestanding Industrial Building

      10,570 SF industrial building with high ceilings and docks.
      6126 Factory Road, Crystal Lake, IL 60014
      View Details

    FAQs

    What type of property is this?
    Storefront property - High-profile commercial building suitable for single tenant or investor.
    Where is this storefront property located?
    The property is located at 440 W Virginia St Crystal Lake, IL.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: High profile commercial building on Northwest Highway.; Ideal for single tenant occupancy, end user/investor, or investor.; Affluent population with high average household income.
    (815) 355-0196 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Tim Billimack
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry

    440 W Virginia St, Crystal Lake, IL

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!