Former Restaurant in Prime
For Sale
Contact for pricing
1591 Randall Rd., Algonquin, IL
Versatile space suitable for restaurant, retail, or healthcare.
Property Size10,500 SF
Price / SF$223.81
Days on Market145
Property Features for 1591 Randall Rd.
General Information
Standard status
Active
Size
10,500 SF
Total Parking Spaces
143
Property subtype
Retail
Zoning
B-2 PUD
Investment Type
Redevelopment
Building Details
Year Built
2008
Listing Agency:
Realty Metrix Commercial
Listed By:
Linda Kost · License #IL 475141895
Source:
Crexi
Added: May 22
Changed: Oct 11
Last Checked: Oct 12 at 6:24PM
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 Realty Metrix Commercial
Investment Insights
Based on property information with market context.
This former Golden Corral restaurant offers a versatile space suitable for a restaurant, event space, medi-spa, or general retail purposes. The property is situated in a prime location at Randall & County Line Roads, within a 2,000,000 square foot retail node and across the street from Algonquin Commons, a 600,000 square foot lifestyle center anchored by Trader Joe's, Nordstrom Rack, Dick's Sporting Goods, Barnes & Noble and Fresh Market. The surrounding trade area is affluent, with an average household income of $138,020 within a 3-mile radius. The location benefits from impressive traffic counts of 47,000 vehicles per day and is just minutes from I-90. The property size is 10,500 square feet.
Key Highlights
- Prime location at Randall & County Line Rds within a 2,000,000 SF retail node.
- Located across from Algonquin Commons, a 600,000 SF lifestyle center anchored by Trader Joe's, Nordstrom Rack, Dick's Sporting Goods, Barnes & Noble and Fresh Market.
- High traffic counts of 47,000.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$123,304
Cap Rate
5.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,466,080
$2.5M
Cap Rate 7%
$1,761,486
$1.8M
Cap Rate 9%
$1,370,044
$1.4M
Market Conditions
NOI Build-Up for 10,500 SF
Gross rent
$176.4K $16.80/SF
− Vacancy
−$12.0K −$1.14/SF
EGI
$164.4K $15.66/SF
− OpEx
−$41.1K −$3.91/SF
NOI
$123.3K $11.74/SF
Area
McHenry County, IL
Vacancy
6.80%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,466,080
Cap Rate 7%
$1,761,486
Cap Rate 9%
$1,370,044
Alternative Uses
Best Use
Specialty Retail
$1.76M
$1.54M – $2.06M
NOI $123,304 @ 7.0% cap · market cap 5.25%
Second Best
Retail
$1.45M
$1.27M – $1.69M
NOI $101,320 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$3.63M
$3.17M – $4.23M
NOI $253,762 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
217
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Versatile space suitable for restaurant, retail, or healthcare.
Where is this conventional restaurant located?
The property is located at 1591 Randall Rd. Algonquin, IL.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: Prime location at Randall & County Line Rds within a 2,000,000 SF retail node.; Located across from Algonquin Commons, a 600,000 SF lifestyle center anchored by Trader Joe's, Nordstrom Rack, Dick's Sporting Goods, Barnes & Noble and Fresh Market.; High traffic counts of 47,000.
