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    Crystal Lake Retail Space Available Title is generated by Realmo AI

    1295 N Randall Rd, Crystal Lake, IL 60014

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    Retail spaces available near Crystal Lake South High School.

    Type:Retail
    Property size:
    4,093 SF
    Added:
    Dec 21, 2023
    Days on Market:
    896
    Last Refresh:
    May 12 at 8:53 pm

    Property Features for 1295 N Randall Rd

    General Information

    Standard status
    Active
    Size
    4,093 SF
    Property subtype
    Retail

    Building Details

    Year Built
    2008

    Spaces For Lease

    at 1295 N Randall Rd Contact us

    We can help!

    Listing Contact
    Heather Schweitzer

    Listing agent Heather Schweitzer License #IL 471019756

    Listing office Premier Commercial Realty

    Listing date Dec 21, 2023

    Source Crexi

    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 Premier Commercial Realty

    HighLights

    • High traffic/visibility location with over 30,000 vehicles per day
    • Ample lighted parking and monument signage available
    • Unit 106‑108: 3,012 SF former gym space ideal for fitness uses, with existing locker rooms and break room
    • Unit 101: 1,620 SF end cap with drive‑thru service window, ideal for coffee or fast food
    • Located in a busy shopping center with anchor tenant CVS and other established businesses
    • Units 106‑108 and 109 can be combined for a total of 4,093 SF

    Overview

    Multiple retail spaces are available for lease. Unit 101 is a 1,620-square-foot end cap with a drive-thru service window and one bathroom, suitable for coffee or fast food businesses. The monthly rent, including NNN, is $4,064. Units 106-108 offer 3,012 square feet, previously used as a gym, featuring a waiting area, an open gym space (33’ x 33’, expandable to 47’ x 33’), a reception desk, two locker rooms, a break room, two bathrooms, and a storage area. This space is ideal for fitness-related businesses such as martial arts, fitness gyms, yoga studios, or dance studios. The monthly rent, including NNN, is $6,551. This unit can be combined with Unit 109 to create a 4,093-square-foot space. Unit 109 is an inline retail space of 1,081 square feet, mostly open, with two plumbing hook-ups and one bathroom. The monthly rent, including NNN, is $2,531. It can be combined with Units 106-108 for a total of 4,093 square feet. The location benefits from high traffic and visibility, with over 30,000 vehicles per day, near Crystal Lake South High School and residential areas. Ample lighted parking is available, along with monument signage. The shopping center has an adjacent anchor tenant, CVS, and other businesses, including Nancy’s Pizza, Salon Mackk and Co., Jalsa Bar and Restaurant, Andy’s Burritos, and Hair and Art.
    Location Intelligence

    Current Use by Public Records

    Drive through restaurants

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Crystal Lake
    County
    McHenry
    State
    Illinois
    Longitude
    -88.3202
    Latitude
    42.2284

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    FAQs

    What type of property is this?
    Drive through restaurant - Retail spaces available near Crystal Lake South High School.
    Where is this drive through restaurant located?
    The property is located at 1295 N Randall Rd Crystal Lake, IL.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: High traffic/visibility location with over 30,000 vehicles per day; Ample lighted parking and monument signage available; Unit 106‑108: **3,012 SF former gym space ideal for fitness uses, with existing locker rooms and break room**
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Heather Schweitzer
    Real Estate License ID: IL 471019756
    Learn More
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    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.

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