Flex Space
For Sale
$165,000
4531 Prime Parkway, McHenry, IL 60050
Industrial condominium property constructed in 1990 for flexible commercial use.
Property Size1,788 SF
Days on Market90
Property Features for 4531 Prime Parkway
General Information
Standard status
Active
Size
1,788 SF
Property subtype
Industrial
Building Details
Building Size
1,788 SF
Year Built
1990
Listing Agency:
Premier Commercial Realty
(815) 814-6500
Listed By:
Michael Deacon · License #475113064
(815) 814-6500
Source:
Premiercommercialrealty
Added: Jun 2
Changed: Aug 30
Last Checked: Aug 30 at 10:36AM
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 Premier Commercial Realty
Investment Insights
Based on property information with market context.
This industrial flex condominium was constructed in 1990 and is located at 4531 Prime Parkway in McHenry, Illinois. The property is identified as a flex space within an industrial commercial setting, offering a format suited to a range of business operations.
The asset is offered for sale and carries a 60050 ZIP code. Its condominium structure distinguishes it from a conventional standalone industrial building while retaining a commercial flex-space classification.
The asset is offered for sale and carries a 60050 ZIP code. Its condominium structure distinguishes it from a conventional standalone industrial building while retaining a commercial flex-space classification.
Key Highlights
- Industrial flex condominium property
- Constructed in 1990
- Located at 4531 Prime Parkway, McHenry, IL 60050
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
$10,675
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
6.47%
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%
$213,500
$213.5K
Cap Rate 7%
$152,500
$152.5K
Cap Rate 9%
$118,611
$118.6K
Market Conditions
NOI Build-Up for 1,788 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
$17.4K $9.72/SF
− Vacancy
−$956 −$0.53/SF
EGI
$16.4K $9.19/SF
− OpEx
−$5.7K −$3.21/SF
NOI
$10.7K $5.97/SF
Area
McHenry County, IL
Vacancy
5.50%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
35.00%
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%
$213,500
Cap Rate 7%
$152,500
Cap Rate 9%
$118,611
Alternative Uses
Best Use
Flex RnD
$152.5K
$133.4K – $177.9K
NOI $10,675 @ 7.0% cap · market cap 6.47%
Second Best
Industrial
$110.0K
$96.2K – $128.3K
NOI $7,697 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$617.3K
$540.2K – $720.2K
NOI $43,212 @ 7.0% cap · market cap 26.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
429
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
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 Industrial 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?
Flex space - Industrial condominium property constructed in 1990 for flexible commercial use.
Where is this flex space located?
The property is located at 4531 Prime Parkway McHenry, IL.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Industrial flex condominium property; Constructed in 1990; Located at 4531 Prime Parkway, McHenry, IL 60050
