Automotive Building with Tenant
9001 US-12, Richmond, IL 60071
4,000 SF automotive building with existing tenant income.
Type:Retail
Property size:
4,000 SFLot size:
0.90 AcresPrice / SF:
$108/SF- Added:
- Aug 31, 2022
- Days on Market:
- 1361
- Last Refresh:
- May 19 at 8:47 pm
Property Features for 9001 US-12
General Information
- Standard status
- Active
- Size
- 4,000 SF
- Lot size
- 0.90 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1959
Listing agent Bruce Kaplan License #IL 475075614
Listing office Premier Commercial Realty
Listing date Aug 31, 2022
Source Crexi
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
HighLights
- 4,000 SF 2‑unit masonry automotive building.
- Ideal user/investor property: occupy 2,800 SF and rent out the adjacent 1,200 SF.
- Income from long‑term tenant (Medina Cars) with lease through 2026 and option to renew through 2029.
- 2,800 SF space available, currently occupied by tenant (Pete’s Paint Works) who wants to retire.
- Located on .9 acre on US Hwy 12.
- Newer membrane roof and new parking lot installed in 2023.
Overview
This 4,000 SF masonry automotive building is available for sale on a 0.9 acre lot on US Hwy 12. The building is divided into two units. A 2,800 SF space is available, while the adjacent 1,200 SF section is occupied by a long-term tenant. The current tenant in the 2,800 SF space, Pete’s Paint Works, conducts auto body work and has a lease but intends to retire. The other tenant, Medina Cars, sells used cars and has a lease through 2026 with an option to renew through 2029, which they expect to exercise. Constructed in 1959 with subsequent additions, the property features a newer membrane roof and six overhead doors. A new parking lot was installed in 2023. This property is suited for an owner-user or investor, offering the opportunity to occupy the 2,800 SF space while generating income from the 1,200 SF leased section. Rent roll and operating statement are available from the broker.
Financial Insights
Value Estimation Calculated for Retail
Conservative
$428.9K
NOI $38,598 @ 9.00% cap · cautious / downside scenario
Moderate
$551.4K
NOI $38,598 @ 7.00% cap · market / base-case scenario
Aggressive
$772.0K
NOI $38,598 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $60.0k | $15.00 |
| − Vacancy | −$4.9k | −$1.22 |
| EGI | $55.1k | $13.79 |
| − OpEx | −$16.5k | −$4.14 |
| NOI | $38.6k | $9.65 |
4,000 SF · lease $15.00/SF/yr · vacancy 8.10% · expense 30.00%
Alternative Use Scenarios
Best Use
Retail
$551.4K
$482.5K – $643.3K
NOI $38,598 @ 7.0% cap · market cap 8.87%
Second Best
Industrial
$246.0K
$215.2K – $287.0K
NOI $17,219 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,671 @ 7.0% cap · market cap 22.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Auto shops
Location Insight
- Map
- Local Demand
- City
- Richmond
- County
- McHenry
- State
- Illinois
- Longitude
- -88.306411
- Latitude
- 42.457823
Nearby Similar for Sale
FAQs
What type of property is this?
Automotive property - 4,000 SF automotive building with existing tenant income.
Where is this automotive property located?
The property is located at 9001 US-12 Richmond, IL.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: 4,000 SF 2‑unit masonry automotive building.; Ideal user/investor property: occupy 2,800 SF and rent out the adjacent 1,200 SF.; Income from long‑term tenant (Medina Cars) with lease through 2026 and option to renew through 2029.
