Building Details

Year Built 1900

Listing Agency: HomeSmart Connect LLC

Listed By: Kevin Dombrowski, Dana Dombrowski

Source: Realtopiare

Added: Sep 6 Changed: Oct 7 Last Checked: Oct 7 at 1:03PM

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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 HomeSmart Connect LLC

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Investment Insights

Based on property information with market context.

Located at 3402 W Elm St in McHenry, this 3,300-square-foot salon property includes an ADA-compliant main level configured for a range of beauty and wellness services. Existing stylists are operating from the space, while the layout can accommodate more than a dozen professionals and additional service providers.

The property can support hairstyling, barbering, tattooing, massage, esthetics, lash and brow services, makeup, and nail care. Its independent-contractor-oriented configuration allows individual professionals to operate within a shared salon environment. The building was constructed in 1900.

Key Highlights

• 3,300‑square‑foot salon property in McHenry
• ADA‑compliant main level
• Existing stylists currently operate from the space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,843

Cap Rate

4.55%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$636,860 $636.9K

Cap Rate 7%

$454,900 $454.9K

Cap Rate 9%

$353,811 $353.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,300 SF

Gross rent

$49.5K $15.00/SF

− Vacancy

−$4.0K −$1.22/SF

EGI

$45.5K $13.79/SF

− OpEx

−$13.6K −$4.14/SF

NOI

$31.8K $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 Rate 5%

$636,860

Cap Rate 7%

$454,900

Cap Rate 9%

$353,811

Alternative Uses

Best Use

Retail

$454.9K

$398.0K – $530.7K (±1% cap)

NOI $31,843 @ 7.0% cap · market cap 4.55%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.14M

$996.9K – $1.33M (±1% cap)

NOI $79,754 @ 7.0% cap · market cap 11.39%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Spa & wellness properties

Suggested Use

Top Pick Parking Lot & Garage Accounting Firm (Bike/Boat/Book/etc) Store HVAC Service Grocery & Convenience Store Acupuncture

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

202

Businesses Nearby

63k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Groceries 100%

Meijer Groceries

63,448 visits/mo 0.5 miles

Demographics for 60050, IL

31,854

Population

13,399

Households

2.4

Avg Household Size

42

Median Age

25%

College-Educated

91%

High-School Grad

26.4 sq mi

ZIP Area

1,207

Density / Sq Mi

$86,315

Median Household Income

$48,953

Median Earnings

$1,522

Median Rent

$244,500

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Spa & wellness property - ADA-compliant salon space supports multiple independent beauty and wellness professionals under one roof.

Where is this spa & wellness property located?

The property is located at 3402 W Elm St McHenry, IL.

What is the asking price?

The asking price for this property is $700,000.

What are key features of this property?

This property features: 3,300‑square‑foot salon property in McHenry; ADA‑compliant main level; Existing stylists currently operate from the space