Built-Out Retail
For Sale
Contact for pricing
2302-2320 Esplanade Dr, Algonquin, IL 60102
Configured retail space includes a private office, smoothie bar, shopping aisles, shelving, sprinklers, and paved parking.
Property Size2,566 SF
Price / SF$136.01
Days on Market890
Property Features for 2302-2320 Esplanade Dr
General Information
Standard status
Active
Size
2,566 SF
Property subtype
RETAIL
Additional Details
Asking Price
$349,000
Sprinkler System
Yes
Listing Agency:
Brown Commercial Group
(847) 775-0354
Listed By:
Jim Pietrarosso · License #475122538
Source:
Moodyscre
Added: Mar 26, 2024
Changed: Aug 31
Last Checked: Aug 31 at 1:11AM
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 Brown Commercial Group
Investment Insights
Based on property information with market context.
This retail property at 2302-2320 Esplanade Dr in Algonquin, Illinois, provides 2,566 square feet of built-out commercial space. The layout includes a 1,282-square-foot divisible configuration, one 12' x 7' office, a smoothie bar, shelving, and shopping aisles. Sprinkler protection is also in place.
Paved parking serves the property, supporting customer and staff access. The existing interior build-out provides a ready framework for continued retail use or a reconfigured commercial layout, subject to applicable approvals and the final space plan.
Paved parking serves the property, supporting customer and staff access. The existing interior build-out provides a ready framework for continued retail use or a reconfigured commercial layout, subject to applicable approvals and the final space plan.
Key Highlights
- 2,566 SF retail space
- Divisible to 1,282 SF
- One 12' x 7' office
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
$24,761
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
7.09%
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%
$495,220
$495.2K
Cap Rate 7%
$353,729
$353.7K
Cap Rate 9%
$275,122
$275.1K
Market Conditions
NOI Build-Up for 2,566 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
$38.5K $15.00/SF
− Vacancy
−$3.1K −$1.22/SF
EGI
$35.4K $13.79/SF
− OpEx
−$10.6K −$4.14/SF
NOI
$24.8K $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 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%
$495,220
Cap Rate 7%
$353,729
Cap Rate 9%
$275,122
Alternative Uses
Best Use
Retail
$353.7K
$309.5K – $412.7K
NOI $24,761 @ 7.0% cap · market cap 7.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$885.9K
$775.2K – $1.03M
NOI $62,015 @ 7.0% cap · market cap 17.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
498
Businesses Nearby
Explore this area
Business Placement
Demographics for 60102, IL
31,959
Population
12,076
Households
2.6
Avg Household Size
42
Median Age
43%
College-Educated
95%
High-School Grad
15.8 sq mi
ZIP Area
2,023
Density / Sq Mi
$128,070
Median Household Income
$59,484
Median Earnings
$1,826
Median Rent
$320,600
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?
Retail space - Configured retail space includes a private office, smoothie bar, shopping aisles, shelving, sprinklers, and paved parking.
Where is this retail space located?
The property is located at 2302-2320 Esplanade Dr Algonquin, IL.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 2,566 SF retail space; Divisible to 1,282 SF; One 12' x 7' office
