End-Unit Takeout
For Sale
$42,500
801 N Quentin Rd, Palatine, IL 60067
Chinese takeout operation with equipment, fixtures, signage, and customer parking already in place.
Property Size882 SF
Price / SF$48.19
Days on Market45
Property Features for 801 N Quentin Rd
General Information
Standard status
Active
Size
882 SF
Property subtype
Business Opportunity
Site & Location
End Cap
Yes
Pylon Signage
Yes
Additional Details
Business Included
Yes
Equipment Included
Yes
Amenities
monument sign
Building Details
Tenancy
Multi
Listing Agency:
@properties Commercial
(312) 506-0200
Listed By:
David Urbaniak · License #475114531
Source:
Grandviewrealtyservices
Added: Jul 17
Changed: Aug 28
Last Checked: Aug 28 at 1:02PM
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 @properties Commercial
Investment Insights
Based on property information with market context.
This 882-square-foot Chinese takeout restaurant occupies an end unit in the Quentin Corners shopping center. The sale includes freezers, refrigerators, stoves, wok stations, fixtures, supplies, and other equipment shown on site. A newer HVAC system and mostly updated plumbing support the existing operation, while the restaurant’s branding may also be transferred if desired.
Signage is installed at the premises and on the shopping center’s monument sign. Parking is positioned directly in front of the restaurant for convenient customer access. Approximately 14 months remain on the current lease, and the landlord is willing to rewrite or extend it for an additional five years. The property is located at 801 N Quentin Rd in Palatine, Illinois.
Signage is installed at the premises and on the shopping center’s monument sign. Parking is positioned directly in front of the restaurant for convenient customer access. Approximately 14 months remain on the current lease, and the landlord is willing to rewrite or extend it for an additional five years. The property is located at 801 N Quentin Rd in Palatine, Illinois.
Key Highlights
- 882 SF end‑unit restaurant in Quentin Corners shopping center
- Chinese takeout format with freezers, refrigerators, stoves, and wok stations included
- Newer HVAC system and mostly updated plumbing
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
$3,797
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
8.93%
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%
$75,940
$75.9K
Cap Rate 7%
$54,243
$54.2K
Cap Rate 9%
$42,189
$42.2K
Market Conditions
NOI Build-Up for 882 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
$5.7K $6.48/SF
− Vacancy
−$291 −$0.33/SF
EGI
$5.4K $6.15/SF
− OpEx
−$1.6K −$1.84/SF
NOI
$3.8K $4.30/SF
Area
Cook County, IL
Vacancy
5.10%
Lease Rate
$6.48 /SF/Yr
Expense Ratio
30.00%
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%
$75,940
Cap Rate 7%
$54,243
Cap Rate 9%
$42,189
Alternative Uses
Best Use
Specialty Retail
$210.9K
$184.6K – $246.1K
NOI $14,765 @ 7.0% cap · market cap 34.74%
Second Best
Industrial
$54.2K
$47.5K – $63.3K
NOI $3,797 @ 7.0% cap · market cap 8.93%
Theoretical Best
Office A
$304.5K
$266.5K – $355.3K
NOI $21,316 @ 7.0% cap · market cap 50.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
642
Businesses Nearby
11k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 76%
Dining 18%
Beauty & Spa 6%
7-Eleven
Shops & Services
7,671 visits/mo
0.0 miles
Papa John's Pizza
Dining
1,877 visits/mo
0.1 miles
Elements Massage
Beauty & Spa
637 visits/mo
0.4 miles
Napa Auto Parts
Shops & Services
449 visits/mo
0.1 miles
Demographics for 60067, IL
39,324
Population
16,039
Households
2.5
Avg Household Size
43
Median Age
59%
College-Educated
96%
High-School Grad
13.0 sq mi
ZIP Area
3,025
Density / Sq Mi
$121,572
Median Household Income
$64,520
Median Earnings
$1,521
Median Rent
$427,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Chinese takeout operation with equipment, fixtures, signage, and customer parking already in place.
Where is this conventional restaurant located?
The property is located at 801 N Quentin Rd Palatine, IL.
What is the asking price?
The asking price for this property is $42,500.
What are key features of this property?
This property features: 882 SF end‑unit restaurant in Quentin Corners shopping center; Chinese takeout format with freezers, refrigerators, stoves, and wok stations included; Newer HVAC system and mostly updated plumbing
