Five-Unit Retail Strip
New
For Sale
$799,000
1305-1385 N La Fox St, South Elgin, IL 60177
Leased storefronts accommodate a mix of retail and service businesses.
Property Size6,000 SF
Price / SF$133.17
Days on Market2
Property Features for 1305-1385 N La Fox St
General Information
Standard status
Active
Size
6,000 SF
Occupancy
100%
Amenities
basement access
Building Details
Year Built
1990
Tenancy
Multi
Listing Agency:
HomeSmart Connect LLC
Listed By:
Peter Dubiel · License #471022858
(847) 495-5000
Source:
Liveliferealty
Added: Sep 24
Last Checked: Sep 24 at 2:04PM
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 HomeSmart Connect LLC
Investment Insights
Based on property information with market context.
This retail strip center contains five units, including one double unit and four standard units, across 6,000 square feet. All units are leased. Existing tenants include an accounting firm, flower shop, gaming cafe, smoke shop, and retail businesses. The property was built in 1990.
Positioned on IL Rt 31, also known as LaFox Street, the center has a private parking area with up to 18 spaces. Rear entrances sit above grade and are reached by wooden stairways. Basement access provides additional storage and a route for utility modifications.
Positioned on IL Rt 31, also known as LaFox Street, the center has a private parking area with up to 18 spaces. Rear entrances sit above grade and are reached by wooden stairways. Basement access provides additional storage and a route for utility modifications.
Key Highlights
- Five leased units: one double unit and four standard units
- 6,000 square feet of retail space
- Tenants include an accounting firm, flower shop, gaming cafe, smoke shop, and retail businesses
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
$72,425
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
9.06%
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%
$1,448,500
$1.4M
Cap Rate 7%
$1,034,643
$1.0M
Cap Rate 9%
$804,722
$804.7K
Market Conditions
NOI Build-Up for 6,000 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
$108.0K $18.00/SF
− Vacancy
−$4.5K −$0.76/SF
EGI
$103.5K $17.24/SF
− OpEx
−$31.0K −$5.17/SF
NOI
$72.4K $12.07/SF
Area
Kane County, IL
Vacancy
4.20%
Lease Rate
$18.00 /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%
$1,448,500
Cap Rate 7%
$1,034,643
Cap Rate 9%
$804,722
Alternative Uses
Best Use
Retail
$1.03M
$905.3K – $1.21M
NOI $72,425 @ 7.0% cap · market cap 9.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.07M
$1.81M – $2.42M
NOI $145,007 @ 7.0% cap · market cap 18.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
363
Businesses Nearby
Explore this area
Business Placement
Demographics for 60177, IL
24,361
Population
8,700
Households
2.8
Avg Household Size
37
Median Age
38%
College-Educated
91%
High-School Grad
8.9 sq mi
ZIP Area
2,737
Density / Sq Mi
$123,700
Median Household Income
$59,266
Median Earnings
$1,612
Median Rent
$296,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Leased storefronts accommodate a mix of retail and service businesses.
Where is this strip mall located?
The property is located at 1305-1385 N La Fox St South Elgin, IL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Five leased units: one double unit and four standard units; 6,000 square feet of retail space; Tenants include an accounting firm, flower shop, gaming cafe, smoke shop, and retail businesses
