Barrington Redevelopment
For Sale
Contact for pricing
301 W Northwest Hwy, Barrington, IL 60010
Freestanding building with drive-thru potential in high-traffic area.
Property Size2,300 SF
Lot Size0.25 Acres
Price / SF$434.78
Days on Market405
Property Features for 301 W Northwest Hwy
General Information
Standard status
Active
Size
2,300 SF
Lot size
0.25 Acres
Property subtype
Retail
Zoning
B-1
Investment Type
Owner/User
Building Details
Buildings
1
Stories
1
Units
1
Listing Agency:
RE/MAX Suburban
(847) 367-8686
Listed By:
Jason Bitton · License #IL475170841
Source:
Crexi
Added: Jul 9, 2025
Changed: Aug 8
Last Checked: Aug 13 at 3:36PM
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 Suburban
Investment Insights
Based on property information with market context.
This property presents a redevelopment opportunity on a major corridor in Barrington. It features a freestanding building with an area of approximately 2,300 square feet, situated on a 0.252-acre parcel. The property is zoned B-1 and has potential for drive-thru use. Previously, the Village of Barrington approved the site for a drive-thru. The location is positioned along a heavily trafficked corridor, Northwest Highway (Route 14), and is near an upcoming multi-lane infrastructure expansion. The property is currently occupied by a tenant at $2,450 per month with 2.5 years remaining on the lease. The property is being marketed for its redevelopment and drive-thru potential. The tenant may consider an early lease termination. This site is suitable for QSR operators, coffee concepts, and developers seeking a strategic infill site. It is located in an underserved trade area with high income.
Key Highlights
- Drive‑thru approved: Previously approved by the Village of Barrington.
- Strategic location: High‑traffic corridor on Route 14 (Northwest Highway) in Barrington.
- Redevelopment opportunity: Ideal for QSR operators, coffee concepts, and developers.
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
$38,502
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
3.85%
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%
$770,040
$770.0K
Cap Rate 7%
$550,029
$550.0K
Cap Rate 9%
$427,800
$427.8K
Market Conditions
NOI Build-Up for 2,300 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
$55.2K $24.00/SF
− Vacancy
−$3.9K −$1.68/SF
EGI
$51.3K $22.32/SF
− OpEx
−$12.8K −$5.58/SF
NOI
$38.5K $16.74/SF
Area
Cook County, IL
Vacancy
7.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$770,040
Cap Rate 7%
$550,029
Cap Rate 9%
$427,800
Alternative Uses
Best Use
Specialty Retail
$550.0K
$481.3K – $641.7K
NOI $38,502 @ 7.0% cap · market cap 3.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$794.1K
$694.8K – $926.4K
NOI $55,586 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,977
Businesses Nearby
104k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 40%
Dining 38%
Shops & Services 19%
Beauty & Spa 2%
Jewel-Osco
Groceries
27,240 visits/mo
0.4 miles
McDonald's
Dining
17,617 visits/mo
0.1 miles
Heinen's Grocery Store
Groceries
14,403 visits/mo
0.1 miles
Shell
Shops & Services
7,754 visits/mo
0.1 miles
Chipotle Mexican Grill
Dining
7,240 visits/mo
0.1 miles
Demographics for 60010, IL
46,365
Population
17,621
Households
2.6
Avg Household Size
47
Median Age
70%
College-Educated
97%
High-School Grad
74.1 sq mi
ZIP Area
626
Density / Sq Mi
$175,050
Median Household Income
$86,255
Median Earnings
$2,459
Median Rent
$622,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Drive through restaurant - Freestanding building with drive-thru potential in high-traffic area.
Where is this drive through restaurant located?
The property is located at 301 W Northwest Hwy Barrington, IL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Drive‑thru approved: Previously approved by the Village of Barrington.; Strategic location: High‑traffic corridor on Route 14 (Northwest Highway) in Barrington.; Redevelopment opportunity: Ideal for QSR operators, coffee concepts, and developers.
