Freestanding Retail
For Sale
Contact for pricing
7010 Grand Ave., Gurnee, IL 60031
Established retail property with a substantial commercial footprint and an indicated 6.65% CAP rate.
Property Size11,581 SF
Price / SF$306.54
Days on Market89
Property Features for 7010 Grand Ave.
General Information
Standard status
Active
Size
11,581 SF
Total Parking Spaces
50
Property subtype
Retail
Occupancy
84%
Lease Type
Net
Investment Type
Value Add
Net Operating Income
$235,476
Additional Details
Cap Rate
6.65%
Building Details
Year Built
1993
Buildings
1
Units
4
Tenancy
Multi
Listing Agency:
Quantum Real Estate Advisors
Listed By:
Daniel Waszak · License #IL 475153121
Source:
Crexi
Added: Jul 20
Changed: Oct 7
Last Checked: Oct 16 at 7:20AM
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 Quantum Real Estate Advisors
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This retail property contains 11,581 square feet and was constructed in 1993. The asset is identified as a retail space and is offered for sale with a stated 6.65% CAP rate.
The property is located at 7010 Grand Ave. in Gurnee, Illinois, providing a defined address for retail operations and ownership.
The property is located at 7010 Grand Ave. in Gurnee, Illinois, providing a defined address for retail operations and ownership.
Key Highlights
- 11,581‑square‑foot retail property
- 6.65% CAP rate
- Built in 1993
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$118,439
Cap Rate
3.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,368,780
$2.4M
Cap Rate 7%
$1,691,986
$1.7M
Cap Rate 9%
$1,315,989
$1.3M
Market Conditions
NOI Build-Up for 11,581 SF
Gross rent
$173.7K $15.00/SF
− Vacancy
−$4.5K −$0.39/SF
EGI
$169.2K $14.61/SF
− OpEx
−$50.8K −$4.38/SF
NOI
$118.4K $10.23/SF
Area
Lake County, IL
Vacancy
2.60%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,368,780
Cap Rate 7%
$1,691,986
Cap Rate 9%
$1,315,989
Alternative Uses
Best Use
Retail
$1.69M
$1.48M – $1.97M
NOI $118,439 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.00M
$3.50M – $4.66M
NOI $279,887 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
454
Businesses Nearby
316k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 30%
Dining 26%
Apparel 20%
Shops & Services 18%
Binny's Beverage Depot
Groceries
35,154 visits/mo
0.3 miles
Mariano's
Groceries
34,560 visits/mo
0.4 miles
Ross Dress for Less
Apparel
27,280 visits/mo
0.3 miles
Aldi
Groceries
25,662 visits/mo
0.5 miles
Michaels
Shops & Services
22,633 visits/mo
0.5 miles
Demographics for 60031, IL
37,650
Population
14,796
Households
2.5
Avg Household Size
42
Median Age
54%
College-Educated
95%
High-School Grad
19.0 sq mi
ZIP Area
1,982
Density / Sq Mi
$114,008
Median Household Income
$56,770
Median Earnings
$1,601
Median Rent
$322,300
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
Frequently Asked Questions
What type of property is this?
Retail space - Established retail property with a substantial commercial footprint and an indicated 6.65% CAP rate.
Where is this retail space located?
The property is located at 7010 Grand Ave. Gurnee, IL.
What is the asking price?
The asking price for this property is $3,550,000.
What are key features of this property?
This property features: 11,581‑square‑foot retail property; 6.65% CAP rate; Built in 1993
