Medical Office Suite with Patient
For Sale
$375,000
3330 W 177th Street 2e, Hazel Crest, IL 60429
Configured for clinical use with private offices, treatment rooms, administrative space, and a reception area.
Property Size2,500 SF
Price / SF$150
Days on Market18
Property Features for 3330 W 177th Street 2e
General Information
Standard status
Active
Size
2,500 SF
Additional Details
Highway Access
Yes
Building Details
Year Built
2004
Listing Agency:
Coldwell Banker Realty
(312) 315-6484
Listed By:
John Nugent · License #475090952
Source:
Bktchicago
Added: Aug 13
Changed: Aug 29
Last Checked: Aug 29 at 4:52PM
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.
Built in 2004, this medical office suite provides 2,500 square feet arranged for professional and clinical operations. The layout includes two private offices, six patient rooms, a substantial administrative area, nursing stations, a break room, storage, and a spacious reception area. Each patient room is equipped with cabinetry and a sink, while common restrooms are located across the hall.
The property is positioned across from South Suburban Hospital and offers access to I-80, I-94, and I-294. Its Hazel Crest and Homewood border location provides a short drive to Chicago, Indiana, and nearby south and southwest suburbs. The space is offered for purchase or lease, with a shared-office arrangement also available.
The property is positioned across from South Suburban Hospital and offers access to I-80, I-94, and I-294. Its Hazel Crest and Homewood border location provides a short drive to Chicago, Indiana, and nearby south and southwest suburbs. The space is offered for purchase or lease, with a shared-office arrangement also available.
Key Highlights
- 2,500 SF medical office suite built in 2004
- Six patient rooms, each with cabinets and a sink
- Two private offices plus administrative area 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 - Configured for clinical use with private offices, treatment rooms, administrative space, and a reception area.
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, each with cabinets and a sink; Two private offices plus administrative area and nurses stations
