Medical Office Suite with Patient
For Sale
$375,000
3330 W 177th Street #2E, Hazel Crest, IL 60429
Purpose-built medical workspace with clinical rooms, administrative areas, and dedicated support spaces in an OFFIC-zoned property.
Property Size2,500 SF
Price / SF$150
Days on Market9
Property Features for 3330 W 177th Street #2E
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Commercial
Zoning
OFFIC
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$9,705
Building Details
Year Built
2004
Stories
3
Units
1
Listing Agency:
Coldwell Banker Realty
(708) 424-4000
Listed By:
John Nugent · License #475090952
(708) 424-4000
Source:
Gia-sells
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 28 at 8:17PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 2,500-square-foot medical office suite was built in 2004 and includes two private offices, six patient rooms, a broad reception area, and an administrative work area. Additional support space includes nurses stations, a break room, storage areas, and patient rooms fitted with cabinets and sinks. Common restrooms are positioned across the hall.
The suite is located at 3330 W 177th Street #2E in Hazel Crest, across the street from South Suburban Hospital. Access to I-80, I-94, and I-294 is nearby, with Chicago, Indiana, and south and southwest suburbs within a short drive. The property carries OFFIC zoning.
The suite is located at 3330 W 177th Street #2E in Hazel Crest, across the street from South Suburban Hospital. Access to I-80, I-94, and I-294 is nearby, with Chicago, Indiana, and south and southwest suburbs within a short drive. The property carries OFFIC zoning.
Key Highlights
- 2,500 SF medical office suite built in 2004
- Six patient rooms with cabinets and sinks
- Two offices, reception area, administration space, and nurses stations
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
$34,471
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
9.19%
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%
$689,420
$689.4K
Cap Rate 7%
$492,443
$492.4K
Cap Rate 9%
$383,011
$383.0K
Market Conditions
NOI Build-Up for 2,500 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
$61.2K $24.48/SF
− Vacancy
−$15.2K −$6.10/SF
EGI
$46.0K $18.38/SF
− OpEx
−$11.5K −$4.60/SF
NOI
$34.5K $13.79/SF
Area
Cook County, IL
Vacancy
24.90%
Lease Rate
$24.48 /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%
$689,420
Cap Rate 7%
$492,443
Cap Rate 9%
$383,011
Alternative Uses
Best Use
Office B
$492.4K
$430.9K – $574.5K
NOI $34,471 @ 7.0% cap · market cap 9.19%
Second Best
Healthcare Medical
$473.1K
$414.0K – $552.0K
NOI $33,120 @ 7.0% cap · market cap 8.83%
Theoretical Best
Office A
$863.1K
$755.3K – $1.01M
NOI $60,420 @ 7.0% cap · market cap 16.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,131
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60429, IL
14,683
Population
5,969
Households
2.5
Avg Household Size
39
Median Age
24%
College-Educated
92%
High-School Grad
4.1 sq mi
ZIP Area
3,581
Density / Sq Mi
$62,231
Median Household Income
$43,120
Median Earnings
$1,440
Median Rent
$180,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Purpose-built medical workspace with clinical rooms, administrative areas, and dedicated support spaces in an OFFIC-zoned property.
Where is this medical office space located?
The property is located at 3330 W 177th Street #2E Hazel Crest, IL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 2,500 SF medical office suite built in 2004; Six patient rooms with cabinets and sinks; Two offices, reception area, administration space, and nurses stations
