Single-Tenant Industrial Warehouse with Drive-In
For Sale
$1,200,000
6710 Pingree Rd, Crystal Lake, IL 60014
Vacant-at-closing industrial warehouse with recently renovated office, two drive-in doors, and strong road frontage for customer and employee access.
Property Size11,000 SF
Lot Size1.11 Acres
Price / SF$109.09
Days on Market51
Property Features for 6710 Pingree Rd
General Information
Standard status
Active
Size
11,000 SF
Total Parking Spaces
10
Lot size
1.11 Acres
Property subtype
Warehouse
Site & Location
Traffic Count
12,600 vehicles/day
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
17 ft
Drive-In Doors
2
Amenities
Single-Tenant ± 11,000-Square-Foot Industrial Warehouse Situated on 1.11 Acres
Features ± 16'-17.5' Clear Height, Two Drive-In Doors, Recently Renovated Office Space, 10 Parking Spaces, and a Rubber Membrane Roof
Available for Owner-Use or Value-Add Lease-Up Opportunity | Current Tenant to Vacate Upon Closing
Excellent Visibility for Business with +/-254 Feet of Frontage Along Pingree Road with 12,600 Vehicles per Day (IDOT) | One Mile from Route 31 and U.S. 14 Interchange
Located in Desirable McHenry County Submarket with a 2.1 Percent Vacancy Rate in Q2 2026 (CoStar)
Building Details
Building Size
11,000 SF
Year Built
1978
Tenancy
Single
Listing Agency:
Marcus & Millichap - Dallas
(312) 624-7078
Listed By:
Timothy Sullivan · License #License(s): IL: 475.200518
(312) 624-7078
Source:
Marcusmillichap
Added: Jun 22
Changed: Aug 8
Last Checked: Aug 11 at 4:42AM
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 Marcus & Millichap - Dallas
Investment Insights
Based on property information with market context.
This single-tenant industrial warehouse totals approximately 11,000 square feet on 1.11 acres. The facility is designed for a range of industrial uses, with approximately 16 to 17.5 feet of clear height and two drive-in doors for efficient loading and unloading. A building coverage ratio of 23 percent provides ample outdoor storage space, supporting day-to-day operations that require exterior staging. The office area has been recently renovated, creating a more modern and comfortable environment for administrative and employee use. The property also includes 10 parking spaces.
Visibility and access are supported by approximately 254 feet of frontage along Pingree Road. Traffic counts reported by the Illinois Department of Transportation show about 12,600 vehicles passing by daily. The location is also about one mile from the interchange between South Illinois Route 31 and U.S. Route 14, placing the property close to major thoroughfares serving the McHenry County submarket.
The current tenant is scheduled to vacate upon closing, offering a straightforward option for an owner-occupant or a new investor looking to lease the space out. With the renovated office and practical warehouse configuration, the building can serve companies that need reliable truck access, exterior storage flexibility, and a high-exposure industrial address.
Visibility and access are supported by approximately 254 feet of frontage along Pingree Road. Traffic counts reported by the Illinois Department of Transportation show about 12,600 vehicles passing by daily. The location is also about one mile from the interchange between South Illinois Route 31 and U.S. Route 14, placing the property close to major thoroughfares serving the McHenry County submarket.
The current tenant is scheduled to vacate upon closing, offering a straightforward option for an owner-occupant or a new investor looking to lease the space out. With the renovated office and practical warehouse configuration, the building can serve companies that need reliable truck access, exterior storage flexibility, and a high-exposure industrial address.
Key Highlights
- Single‑tenant industrial warehouse on 1.11 acres with approximately 11,000 SF of space
- Tenant set to vacate upon closing, allowing the new owner to occupy or lease
- Clear height approximately 16 to 17.5 feet plus 2 drive‑in doors for loading and unloading
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
$57,498
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
4.79%
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%
$1,149,960
$1.1M
Cap Rate 7%
$821,400
$821.4K
Cap Rate 9%
$638,867
$638.9K
Market Conditions
NOI Build-Up for 11,000 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
$71.3K $6.48/SF
− Vacancy
−$3.6K −$0.33/SF
EGI
$67.6K $6.15/SF
− OpEx
−$10.1K −$0.92/SF
NOI
$57.5K $5.23/SF
Area
McHenry County, IL
Vacancy
5.10%
Lease Rate
$6.48 /SF/Yr
Expense Ratio
15.00%
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%
$1,149,960
Cap Rate 7%
$821,400
Cap Rate 9%
$638,867
Alternative Uses
Best Use
Warehouse
$821.4K
$718.7K – $958.3K
NOI $57,498 @ 7.0% cap · market cap 4.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.80M
$3.32M – $4.43M
NOI $265,846 @ 7.0% cap · market cap 22.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
17 ft
Clear height
2
Drive-in doors
12,600 VPD
Traffic count
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
982
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Vacant-at-closing industrial warehouse with recently renovated office, two drive-in doors, and strong road frontage for customer and employee access.
Where is this warehouse located?
The property is located at 6710 Pingree Rd 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: Single‑tenant industrial warehouse on 1.11 acres with approximately 11,000 SF of space; Tenant set to vacate upon closing, allowing the new owner to occupy or lease; Clear height approximately 16 to 17.5 feet plus 2 drive‑in doors for loading and unloading
