Beauty and Wellness Salon
New
For Sale
$700,000
3402 W Elm St, McHenry, IL 60050
ADA-compliant salon space supports multiple independent beauty and wellness professionals under one roof.
Property Size3,300 SF
Price / SF$212.12
Days on Market2
Property Features for 3402 W Elm St
General Information
Standard status
Active
Size
3,300 SF
Additional Details
Floor
Ground
Business Included
Yes
Amenities
ADA-compliant
Building Details
Year Built
1900
Listing Agency:
HomeSmart Connect LLC
Listed By:
Kevin Dombrowski, Dana Dombrowski · License #475179507
(847) 495-5000
Source:
Realtopiare
Added: Sep 6
Last Checked: Sep 6 at 2:55PM
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
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.
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 = 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
$31,843
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
4.55%
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%
$636,860
$636.9K
Cap Rate 7%
$454,900
$454.9K
Cap Rate 9%
$353,811
$353.8K
Market Conditions
NOI Build-Up for 3,300 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
$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 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%
$636,860
Cap Rate 7%
$454,900
Cap Rate 9%
$353,811
Alternative Uses
Best Use
Retail
$454.9K
$398.0K – $530.7K
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
NOI $79,754 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
