Medical Office with Exam
New
For Sale
$445,000
602 W Main St, West Dundee, IL 60118
A former dental practice layout combines patient areas, private offices, and dedicated parking.
Property Size2,775 SF
Price / SF$160.36
Days on Market3
Property Features for 602 W Main St
General Information
Standard status
Active
Size
2,775 SF
Additional Details
Road Access
Yes
Building Details
Year Built
1871
Listing Agency:
Entre Commercial Realty, LLC
Listed By:
Dan Jones · License #471013303
(847) 310-4295
Source:
Realtopiare
Added: Sep 24
Last Checked: Sep 26 at 10:54AM
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.
This 2,775-SF medical office has infrastructure from its former dental use, with 3-4 exam rooms, private offices, and a waiting room. Dedicated parking serves the property.
The building is on Main Street, also designated Route 72, within walking distance of downtown Dundee. The corridor carries 28,000 vehicles per day.
The building is on Main Street, also designated Route 72, within walking distance of downtown Dundee. The corridor carries 28,000 vehicles per day.
Key Highlights
- 2,775 SF medical office with infrastructure from former dental use
- 3‑4 exam rooms, private offices, and a waiting room
- Dedicated parking
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
$38,263
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
8.60%
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%
$765,260
$765.3K
Cap Rate 7%
$546,614
$546.6K
Cap Rate 9%
$425,144
$425.1K
Market Conditions
NOI Build-Up for 2,775 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
$67.9K $24.48/SF
− Vacancy
−$16.9K −$6.10/SF
EGI
$51.0K $18.38/SF
− OpEx
−$12.8K −$4.60/SF
NOI
$38.3K $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%
$765,260
Cap Rate 7%
$546,614
Cap Rate 9%
$425,144
Alternative Uses
Best Use
Office B
$546.6K
$478.3K – $637.7K
NOI $38,263 @ 7.0% cap · market cap 8.60%
Second Best
Healthcare Medical
$525.2K
$459.5K – $612.7K
NOI $36,763 @ 7.0% cap · market cap 8.26%
Theoretical Best
Office A
$958.1K
$838.3K – $1.12M
NOI $67,066 @ 7.0% cap · market cap 15.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,771
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60118, IL
16,342
Population
6,428
Households
2.5
Avg Household Size
44
Median Age
44%
College-Educated
94%
High-School Grad
20.9 sq mi
ZIP Area
782
Density / Sq Mi
$104,572
Median Household Income
$57,622
Median Earnings
$1,532
Median Rent
$340,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - A former dental practice layout combines patient areas, private offices, and dedicated parking.
Where is this medical office space located?
The property is located at 602 W Main St West Dundee, IL.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: 2,775 SF medical office with infrastructure from former dental use; 3‑4 exam rooms, private offices, and a waiting room; Dedicated parking
