Automotive Service
For Sale
$1,950,000
1801 W Wise Road, Schaumburg, IL 60193
Occupied car care center near major roads and expressways.
Property Size17,864 SF
Price / SF$109.16
Days on Market819
Property Features for 1801 W Wise Road
General Information
Standard status
Active
Size
17,864 SF
Property subtype
Commercial
Zoning
COMMR
Taxes and HOA fees
Annual Taxes
$92,561
Building Details
Building Size
17,864 SF
Year Built
1986
Stories
1
Units
5
Listing Agency:
Engel & Voelkers Chicago
(773) 797-9500
Listed By:
Lorenzo Sanchez · License #475148246
(773) 797-9500
Source:
Gia-sells
Added: Jun 3, 2024
Changed: Aug 29
Last Checked: Aug 22 at 8:01AM
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 Engel & Voelkers Chicago
Investment Insights
Based on property information with market context.
This 17,864-square-foot automotive service property operates as an established car care center. The building dates to 1986 and is identified for potential retail or other commercial ventures in addition to its automotive use.
Located at 1801 W Wise Rd in Schaumburg, Illinois, the property is near major roads and expressways. The center has no reported vacancies, providing an existing operating context for an owner or operator evaluating the site.
Located at 1801 W Wise Rd in Schaumburg, Illinois, the property is near major roads and expressways. The center has no reported vacancies, providing an existing operating context for an owner or operator evaluating the site.
Key Highlights
- 17,864‑square‑foot automotive service property
- Established car care center with no vacancies
- Built in 1986
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
$76,899
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
3.94%
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%
$1,537,980
$1.5M
Cap Rate 7%
$1,098,557
$1.1M
Cap Rate 9%
$854,433
$854.4K
Market Conditions
NOI Build-Up for 17,864 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
$115.8K $6.48/SF
− Vacancy
−$5.9K −$0.33/SF
EGI
$109.9K $6.15/SF
− OpEx
−$33.0K −$1.84/SF
NOI
$76.9K $4.30/SF
Area
Cook County, IL
Vacancy
5.10%
Lease Rate
$6.48 /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%
$1,537,980
Cap Rate 7%
$1,098,557
Cap Rate 9%
$854,433
Alternative Uses
Best Use
Specialty Retail
$4.27M
$3.74M – $4.98M
NOI $299,043 @ 7.0% cap · market cap 15.34%
Second Best
Retail
$3.54M
$3.10M – $4.13M
NOI $247,955 @ 7.0% cap · market cap 12.72%
Theoretical Best
Office A
$6.17M
$5.40M – $7.20M
NOI $431,734 @ 7.0% cap · market cap 22.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
441
Businesses Nearby
54k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 50%
Shops & Services 47%
Home Improvements & Furnishings 3%
Culver's
Dining
14,827 visits/mo
0.0 miles
Dollar General
Shops & Services
10,734 visits/mo
0.1 miles
Starbucks
Dining
9,080 visits/mo
0.2 miles
7-Eleven
Shops & Services
7,065 visits/mo
0.1 miles
BP
Shops & Services
5,467 visits/mo
0.2 miles
Demographics for 60193, IL
40,805
Population
16,478
Households
2.5
Avg Household Size
42
Median Age
44%
College-Educated
96%
High-School Grad
8.8 sq mi
ZIP Area
4,637
Density / Sq Mi
$92,284
Median Household Income
$57,707
Median Earnings
$1,699
Median Rent
$317,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- BACS AUTOMOTIVE GROUP — 925 morse ave, schaumburg, il 60193
- Kamphaus Auto Care Hybrid Repair & Emissions — 1005 Irving Park Rd, Hanover Park, IL 60133
- Federico Auto Repair — 861 W Wise Rd, Schaumburg, IL 60193
- Valvoline Instant Oil Change — 1815 W Wise Rd, Schaumburg, IL 60193
- R.N.K. Automotive — 1815 W Wise Rd, Schaumburg, IL 60193
Frequently Asked Questions
What type of property is this?
Auto shop - Occupied car care center near major roads and expressways.
Where is this auto shop located?
The property is located at 1801 W Wise Road Schaumburg, IL.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 17,864‑square‑foot automotive service property; Established car care center with no vacancies; Built in 1986
