Building Details

Building Size 1,680 SF

Year Built 1950

Stories 1

Units 1

Listing Agency: RE/MAX Plaza

Listed By: Christopher Hoelz · License #471004104 Show Phone

Source: Fishmangroup

Added: Jul 7, 2022 Changed: Oct 25 Last Checked: Oct 26 at 3:53AM

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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 RE/MAX Plaza

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Investment Insights

Based on property information with market context.

This 1,680-square-foot automotive property was built in 1950 and includes a garage with a new roof. The property is zoned COMMR and may be sold separately from the other buildings.

The lot contains 13,504 square feet. Billboard rental income is associated with the property.

Key Highlights

• 1,680‑square‑foot automotive property
• Garage has a new roof
• 13,504‑square‑foot lot

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,211

Cap Rate

5.40%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$324,220 $324.2K

Cap Rate 7%

$231,586 $231.6K

Cap Rate 9%

$180,122 $180.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,680 SF

Gross rent

$25.2K $15.00/SF

− Vacancy

−$2.0K −$1.22/SF

EGI

$23.2K $13.79/SF

− OpEx

−$6.9K −$4.14/SF

NOI

$16.2K $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 Rate 5%

$324,220

Cap Rate 7%

$231,586

Cap Rate 9%

$180,122

Alternative Uses

Best Use

Retail

$231.6K

$202.6K – $270.2K (±1% cap)

NOI $16,211 @ 7.0% cap · market cap 5.40%

Second Best

Industrial

$103.3K

$90.4K – $120.5K (±1% cap)

NOI $7,232 @ 7.0% cap · market cap 2.41%

Theoretical Best

Office A

$580.0K

$507.5K – $676.7K (±1% cap)

NOI $40,602 @ 7.0% cap · market cap 13.53%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Auto shops

Suggested Use

Top Pick Restaurant Real Estate Agency Dental Office Building Supply Auto Repair Shop Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

157

Businesses Nearby

18k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 92% Dining 8%

BP Shops & Services

7,054 visits/mo 0.2 miles

Dollar General Shops & Services

4,417 visits/mo 0.3 miles

Dollar Tree Shops & Services

4,039 visits/mo 0.2 miles

SUBWAY Dining

1,494 visits/mo 0.1 miles

Banfield Pet Hospital Shops & Services

1,042 visits/mo 0.2 miles

Demographics for 60097, IL

10,849

Population

4,446

Households

2.4

Avg Household Size

40

Median Age

17%

College-Educated

93%

High-School Grad

16.0 sq mi

ZIP Area

678

Density / Sq Mi

$90,865

Median Household Income

$48,168

Median Earnings

$1,369

Median Rent

$215,700

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Similar Off Market Nearby

• Adams Service — 4010 E Wonder Lake Rd, Wonder Lake, IL 60097
• Mike's Automotive Service Inc. — 7402 Hancock Dr, Wonder Lake, IL 60097
• Mendoza Auto Body Repair — 7307 McCullom Lake Rd, Wonder Lake, IL 60097

Frequently Asked Questions

What type of property is this?

Auto shop - A commercial property with a separate-sale option and billboard rental income.

Where is this auto shop located?

The property is located at 7312 Hancock Drive Wonder Lake, IL.

What is the asking price?

The asking price for this property is $300,000.

What are key features of this property?

This property features: 1,680‑square‑foot automotive property; Garage has a new roof; 13,504‑square‑foot lot