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    Fully Occupied Retail Center Title is generated by Realmo AI

    3501-3523 Diamond Dr, McHenry, IL 60050

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    Claim this Listing
    For Sale
    $2,789,000

    Anchored retail center with strong tenants and high visibility.

    Type:Shopping Strip
    Property size:
    7,035 SF
    Price / SF:
    $396/SF
    Added:
    Apr 3, 2026
    Days on Market:
    66
    Last Refresh:
    Apr 3 at 5:09 am

    Property Features for 3501-3523 Diamond Dr

    General Information

    Standard status
    Active
    Size
    7,035 SF
    Property subtype
    Shopping Strip

    Building Details

    Year Built
    2009

    We can help!

    Listing Contact
    Adrian Mendoza
    Adrian Mendoza

    Listing agent Adrian Mendoza License #IL: 475.147980

    Listing office Chicago Oak Brook Office

    Listing date Apr 3, 2026

    Source Marcusmillichap

    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 Chicago Oak Brook Office

    HighLights

    • 100% occupied retail center anchored by Verizon Wireless and Biggby Coffee
    • Located in McHenry's Route 31 regional retail corridor at a hard corner, stoplight intersection with high visibility (23,400 vehicles per day)
    • Verizon Wireless has operated at the site since 2009 and is corporately guaranteed
    • Biggby Coffee signed a new lease in 2024 and is a fast‑growing national brand
    • Pro‑business environment in McHenry County compared to neighboring Cook County
    • Affluent demographics: over 30,000 residents within three miles and $119,939 average household income within five miles

    Overview

    Diamond Plaza is a fully occupied, three-tenant retail center anchored by Verizon Wireless and Biggby Coffee. The property is located within McHenry’s Route 31 regional retail corridor. Verizon Wireless has operated at the site since 2009 and is corporately guaranteed. Biggby Coffee signed a new lease in 2024. Biggby Coffee is a fast-growing national brand with approximately 450 locations and was named USA Today’s #2 Best Coffee Chain in the Nation (2025). The center benefits from excellent visibility and a hard corner, stoplight location along Richmond Road, which sees 23,400 vehicles per day. The property is in close proximity to the McHenry Metra Station, which services approximately 5.55 million annually. The property is situated within a dominant regional retail hub surrounded by national retailers including Walmart Supercenter, The Home Depot, and Meijer. Located in McHenry County, an investor will benefit from a more pro-business environment over neighboring Cook County. Diamond Plaza is supported by affluent demographics, with over 30,000 residents within three miles and an average household income of $119,939 within five miles. The property size is 7,035 square feet.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • The Shops at Fox River — 3340 Shoppers Dr, McHenry, IL 60051

    Location Insight

    • Map
    • Local Demand
    City
    McHenry
    County
    McHenry
    State
    Illinois
    Longitude
    -88.2783
    Latitude
    42.359

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    FAQs

    What type of property is this?
    Shopping center - Anchored retail center with strong tenants and high visibility.
    Where is this shopping center located?
    The property is located at 3501-3523 Diamond Dr McHenry, IL.
    What is the asking price?
    The asking price for this property is $2,789,000.
    What are key features of this property?
    This property features: 100% occupied retail center anchored by Verizon Wireless and Biggby Coffee; Located in McHenry's Route 31 regional retail corridor at a hard corner, stoplight intersection with high visibility (23,400 vehicles per day); Verizon Wireless has operated at the site since 2009 and is corporately guaranteed
    (630) 570-2163
    We can help!
    Listing Contact
    Adrian Mendoza
    Adrian Mendoza
    Real Estate License ID: IL: 475.147980
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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