Corner Commercial Building with
For Sale
$410,000
3331 W Elm St, McHenry, IL 60050
Commercial building with garage, multiple offices, and parking.
Property Size3,900 SF
Days on Market231
Property Features for 3331 W Elm St
General Information
Standard status
Active
Size
3,900 SF
Property subtype
Retail
Building Details
Building Size
3,900 SF
Year Built
1940
Stories
2
Listing Agency:
Coldwell Banker Real Estate Group
Listed By:
Susan Rohn · License #475125779
(815) 553-2406
Source:
Commercialcafe
Added: Jan 26
Changed: Sep 4
Last Checked: Sep 14 at 6:21AM
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 Coldwell Banker Real Estate Group
Investment Insights
Based on property information with market context.
This corner commercial building is located on a busy street in the heart of town, around the corner from the Riverwalk. It features a storefront, office space, and a large garage space measuring approximately 60 x 25 feet with an overhead garage door entry off Park Street. The building includes a spacious reception area, conference space/kitchen, six office spaces, and five bathrooms, with upstairs office spaces available for expansion. A basement provides extra storage space. The property also offers ample secure parking space behind the building, which is fenced-in. This free-standing brick building can accommodate many business ideas.
Key Highlights
- High‑exposure corner location on a busy street in the heart of town, near the Riverwalk.
- Large garage space (60 X 25 Approx.) with overhead door entry.**
- Spacious reception area, conference space/kitchen, and 6 office spaces.
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
$37,633
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
9.18%
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%
$752,660
$752.7K
Cap Rate 7%
$537,614
$537.6K
Cap Rate 9%
$418,144
$418.1K
Market Conditions
NOI Build-Up for 3,900 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
$58.5K $15.00/SF
− Vacancy
−$4.7K −$1.22/SF
EGI
$53.8K $13.79/SF
− OpEx
−$16.1K −$4.14/SF
NOI
$37.6K $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%
$752,660
Cap Rate 7%
$537,614
Cap Rate 9%
$418,144
Alternative Uses
Best Use
Office B
$768.2K
$672.2K – $896.3K
NOI $53,775 @ 7.0% cap · market cap 13.12%
Second Best
Retail
$537.6K
$470.4K – $627.2K
NOI $37,633 @ 7.0% cap · market cap 9.18%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,254 @ 7.0% cap · market cap 22.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
202
Businesses Nearby
Explore this area
Business Placement
Demographics for 60050, IL
31,854
Population
13,399
Households
2.4
Avg Household Size
42
Median Age
25%
College-Educated
91%
High-School Grad
26.4 sq mi
ZIP Area
1,207
Density / Sq Mi
$86,315
Median Household Income
$48,953
Median Earnings
$1,522
Median Rent
$244,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office units - Commercial building with garage, multiple offices, and parking.
Where is this office units located?
The property is located at 3331 W Elm St McHenry, IL.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: High‑exposure corner location on a busy street in the heart of town, near the Riverwalk.; Large garage space (60 X 25 Approx.) with overhead door entry.**; Spacious reception area, conference space/kitchen, and 6 office spaces.
