Turn-Key Restaurant on Busy
For Sale
Contact for pricing
394 W Virginia St, Crystal Lake, IL 60014
4,226 SF free-standing restaurant with equipment for sale/lease.
Property Size4,226 SF
Price / SF$283.96
Days on Market925
Property Features for 394 W Virginia St
General Information
Standard status
Active
Size
4,226 SF
Property subtype
Retail
Zoning
B2
Lease Type
Net
Investment Type
Owner/User
Building Details
Year Built
2004
Year Renovated
2020
Tenancy
Single
Listing Agency:
Entre Commercial Realty LLC
Listed By:
Kevin Kaplan, CCIM · License #IL 475168120
(847) 854-2300
Source:
Crexi
Added: Mar 25, 2024
Changed: Sep 29
Last Checked: Oct 4 at 9:29AM
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 Entre Commercial Realty LLC
Investment Insights
Based on property information with market context.
Available for sale or lease is a 4,226 square foot, free-standing restaurant, offered as a turn-key operation including equipment. The property was remodeled in 2021 and includes 115 restaurant seats and a full bar with 20 seats. Parking is provided by 40 spots. The property also features monument signage and a full basement. It is located on a busy section of Route 14 in Crystal Lake, with a reported traffic volume of 30,000 vehicles per day.
Key Highlights
- Turn‑key, free‑standing restaurant (4,226 SF) including equipment
- High traffic location on Rt. 14 with 30,000 cars per day
- Recently remodeled in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,627
Cap Rate
4.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$992,540
$992.5K
Cap Rate 7%
$708,957
$709.0K
Cap Rate 9%
$551,411
$551.4K
Market Conditions
NOI Build-Up for 4,226 SF
Gross rent
$71.0K $16.80/SF
− Vacancy
−$4.8K −$1.14/SF
EGI
$66.2K $15.66/SF
− OpEx
−$16.5K −$3.91/SF
NOI
$49.6K $11.74/SF
Area
McHenry County, IL
Vacancy
6.80%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$992,540
Cap Rate 7%
$708,957
Cap Rate 9%
$551,411
Alternative Uses
Best Use
Specialty Retail
$709.0K
$620.3K – $827.1K
NOI $49,627 @ 7.0% cap · market cap 4.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.46M
$1.28M – $1.70M
NOI $102,133 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,099
Businesses Nearby
453k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 28%
Apparel 26%
Groceries 25%
Electronics 9%
Jewel-Osco
Groceries
56,908 visits/mo
0.1 miles
T.J. Maxx
Apparel
49,316 visits/mo
0.4 miles
Burlington
Apparel
44,868 visits/mo
0.4 miles
Mariano's
Groceries
40,088 visits/mo
0.4 miles
Best Buy
Electronics
39,522 visits/mo
0.2 miles
Demographics for 60014, IL
48,275
Population
18,135
Households
2.7
Avg Household Size
40
Median Age
42%
College-Educated
94%
High-School Grad
25.1 sq mi
ZIP Area
1,923
Density / Sq Mi
$104,657
Median Household Income
$50,805
Median Earnings
$1,429
Median Rent
$296,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - 4,226 SF free-standing restaurant with equipment for sale/lease.
Where is this conventional restaurant located?
The property is located at 394 W Virginia St Crystal Lake, IL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Turn‑key, free‑standing restaurant (4,226 SF) including equipment; High traffic location on Rt. 14 with 30,000 cars per day; Recently remodeled in 2021
