Two-Unit Office
New
For Sale
$1,200,000
400 W Northwest Hwy, Barrington, IL 60010
Separate office suites support distinct occupancy and leasing arrangements within one commercial building.
Property Size7,366 SF
Price / SF$162.91
Days on Market2
Property Features for 400 W Northwest Hwy
General Information
Standard status
Active
Size
7,366 SF
Total Parking Spaces
24
Additional Details
Utilities to Site
Yes
Office Units
2
Building Details
Year Built
1994
Buildings
1
Listing Agency:
Property Up Inc.
Listed By:
John Herman · License #471017853
(847) 847-4711
Source:
Grandviewrealtyservices
Added: Sep 6
Last Checked: Sep 6 at 2:35PM
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 Property Up Inc.
Investment Insights
Based on property information with market context.
This 7,366-square-foot office building contains two separate units, allowing the larger space to serve as an operating location while the second unit is leased independently. The interior includes multiple office areas with running water, and the property was built in 1994. Twenty-four parking spaces serve the building.
Positioned at 400 W Northwest Hwy in Barrington, the property benefits from exposure to more than 10,000 vehicles per day. Brick signage provides a substantial on-site identification feature for the business occupants.
Positioned at 400 W Northwest Hwy in Barrington, the property benefits from exposure to more than 10,000 vehicles per day. Brick signage provides a substantial on-site identification feature for the business occupants.
Key Highlights
- 7,366‑square‑foot office building with two separate units
- 24 parking spaces included
- Multiple internal office areas with running water
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
$101,565
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
8.46%
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%
$2,031,300
$2.0M
Cap Rate 7%
$1,450,929
$1.5M
Cap Rate 9%
$1,128,500
$1.1M
Market Conditions
NOI Build-Up for 7,366 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
$180.3K $24.48/SF
− Vacancy
−$44.9K −$6.10/SF
EGI
$135.4K $18.38/SF
− OpEx
−$33.9K −$4.60/SF
NOI
$101.6K $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%
$2,031,300
Cap Rate 7%
$1,450,929
Cap Rate 9%
$1,128,500
Alternative Uses
Best Use
Office B
$1.45M
$1.27M – $1.69M
NOI $101,565 @ 7.0% cap · market cap 8.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.54M
$2.23M – $2.97M
NOI $178,020 @ 7.0% cap · market cap 14.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,902
Businesses Nearby
Explore this area
Business Placement
Demographics for 60010, IL
46,365
Population
17,621
Households
2.6
Avg Household Size
47
Median Age
70%
College-Educated
97%
High-School Grad
74.1 sq mi
ZIP Area
626
Density / Sq Mi
$175,050
Median Household Income
$86,255
Median Earnings
$2,459
Median Rent
$622,900
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?
Office building - Separate office suites support distinct occupancy and leasing arrangements within one commercial building.
Where is this office building located?
The property is located at 400 W Northwest Hwy Barrington, 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: 7,366‑square‑foot office building with two separate units; 24 parking spaces included; Multiple internal office areas with running water
