Automotive
New
For Sale
Contact for pricing
2161 N Rand Rd, Palatine, IL 60074
Automotive business offered for sale with a dedicated commercial facility.
Property Size1,500 SF
Price / SF$396.67
Days on Market7
Property Features for 2161 N Rand Rd
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Business for Sale
Additional Details
Business Included
Yes
Listing Agency:
Chicagoland Commercial Real Estate
Listed By:
Randy Olczyk · License #IL 471018001
(847) 338-2022
Source:
Crexi
Added: Sep 11
Changed: Sep 16
Last Checked: Sep 16 at 2:08PM
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 Chicagoland Commercial Real Estate
Investment Insights
Based on property information with market context.
Automotive business opportunity offered for sale at 2161 N Rand Rd in Palatine, Illinois. The property information identifies a 1,500-square-foot facility associated with the business.
Key Highlights
- Automotive business offered for sale
- 1,500‑square‑foot facility
- Located at 2161 N Rand Rd, Palatine, IL 60074
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
$20,820
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
3.50%
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%
$416,400
$416.4K
Cap Rate 7%
$297,429
$297.4K
Cap Rate 9%
$231,333
$231.3K
Market Conditions
NOI Build-Up for 1,500 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
$32.4K $21.60/SF
− Vacancy
−$2.7K −$1.77/SF
EGI
$29.7K $19.83/SF
− OpEx
−$8.9K −$5.95/SF
NOI
$20.8K $13.88/SF
Area
Cook County, IL
Vacancy
8.20%
Lease Rate
$21.60 /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%
$416,400
Cap Rate 7%
$297,429
Cap Rate 9%
$231,333
Alternative Uses
Best Use
Retail
$297.4K
$260.3K – $347.0K
NOI $20,820 @ 7.0% cap · market cap 3.50%
Second Best
Industrial
$92.2K
$80.7K – $107.6K
NOI $6,457 @ 7.0% cap · market cap 1.09%
Theoretical Best
Office A
$517.9K
$453.2K – $604.2K
NOI $36,252 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
365
Businesses Nearby
66k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 50%
Groceries 32%
Dining 18%
Butera Market
Groceries
20,765 visits/mo
0.3 miles
Shell
Shops & Services
18,084 visits/mo
0.4 miles
Starbucks
Dining
11,796 visits/mo
0.2 miles
Arlington Toyota
Shops & Services
8,925 visits/mo
0.2 miles
Enterprise Rent-A-Car
Shops & Services
1,889 visits/mo
0.2 miles
Demographics for 60074, IL
37,705
Population
14,953
Households
2.5
Avg Household Size
38
Median Age
42%
College-Educated
85%
High-School Grad
7.1 sq mi
ZIP Area
5,311
Density / Sq Mi
$81,911
Median Household Income
$45,217
Median Earnings
$1,429
Median Rent
$307,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Chicago Illinois — 751 E Rand Grove Ln, Palatine, IL 60074
- Mid-States Truck Leasing Co — 2120 N Rand Rd, Palatine, IL 60074
- U-Haul Neighborhood Dealer — 2088 N Rand Rd, Palatine, IL 60074
- Enterprise Rent-A-Car — 2234 N Rand Rd, Palatine, IL 60074
- Enterprise Truck Rental — 2234 N Rand Rd, Palatine, IL 60074
Frequently Asked Questions
What type of property is this?
Automotive property - Automotive business offered for sale with a dedicated commercial facility.
Where is this automotive property located?
The property is located at 2161 N Rand Rd Palatine, IL.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Automotive business offered for sale; 1,500‑square‑foot facility; Located at 2161 N Rand Rd, Palatine, IL 60074
