Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    339 Virginia St Crystal Lake, IL 60014

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime Redevelopment Opportunity: 0.6 Acres, B-2 Zoning

    Property Features for 339 Virginia St

    General Information

    Property type
    Land

    We can help!

    Listing Contact
    Raavi Sravan
    Raavi Sravan

    Listing Agency: Urban Business Brokers Listing Agent: Raavi Sravan

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 0.6-acre commercial land parcel, located at the high-traffic corner of West Virginia Street and McHenry Avenue in Crystal Lake, Illinois (APN 1905308026), presents a compelling redevelopment opportunity. The 25,877 square foot lot is zoned B-2, making it ideal for a variety of commercial uses. Currently occupied by a gas station, the true value lies in the land's potential. This prime location on a strong commercial corridor is perfectly suited for quick-service restaurants (QSRs) with drive-thrus, national retailers, or franchises. The property's visibility and accessibility make it an attractive investment for businesses seeking high exposure. Given its strategic location and zoning, this site offers significant upside for developers and investors. Showings are strictly by appointment only to ensure confidentiality and avoid disturbing current occupants. No signage is present on the property. The asking price is $1,500,000. The property's address is 339 W Virginia St, Crystal Lake, IL 60014.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Crystal Lake
    County
    McHenry
    State
    Illinois
    Longitude
    -88.333500294618
    Latitude
    42.231583002666

    Nearby Similar for Sale

    • $489,900
      3,569 SF

      Crystal Lake Industrial Condo For Sale

      3,569 SF industrial condo with road frontage and visibility.
      1120 Mitchell Ct, Crystal Lake, IL 60014
      View Details
    • $169,900
      1.15 Acres

      Professional Office Space Available

      Well-maintained office in Randall North Business Center.
      1540 Carlemont Dr, Crystal Lake, IL 60014
      View Details
    • $400,000

      Corner Office/Retail Suite Available

      Highly visible corner office/retail suite in Crystal Lake, Illinois.
      1540 Carlemont Dr, Crystal Lake, IL 60014
      View Details
    • New
      $629,000
      3,000 SF

      Spacious Duplex in Desirable Community

      Well-maintained duplex with investment potential in Crystal Lake, Illinois.
      627 Chardonnay Ln, Crystal Lake, IL 60014
      View Details
    • $277,500

      Crystal Lake Multifamily Investment Property

      Two-unit building near train, restaurants, and shopping.
      141 Short St, Crystal Lake, IL 60014
      View Details
    • $449,900
      0.31 Acres

      Crystal Lake Commercial Corner Lot

      Corner lot suitable for drive-thru restaurant on Route 176.
      1703 Il Rte 176, Crystal Lake, IL 60014
      View Details
    • $999,900
      11,010 SF

      Two-Story Multi-Tenant Office Building

      Two-story, multi-tenant office building with owner/user opportunity.
      970 S Mchenry Ave, Crystal Lake, IL
      View Details
    • $665,000
      10,570 SF

      Freestanding Industrial Building with Drive-in

      10,570 SF industrial building with high ceilings and docks.
      6126 Factory Rd, Crystal Lake, IL
      View Details
    • Contact for pricing
      10,277 SF

      Established Restaurant with Seating

      Turnkey restaurant opportunity with high seating capacity and employee retention.
      856 Pyott Rd, Crystal Lake, IL
      View Details
    • $1,495,000

      Turn-Key Italian Restaurant For Sale

      Fully furnished Italian restaurant built in 2005 with high-end appointments.
      1540 Carlemont Dr, Crystal Lake, IL 60014
      View Details
    • Contact for pricing
      5,195 SF

      Northwest Highway Commercial Building

      High-profile commercial building suitable for single tenant or investor.
      440 W Virginia St, Crystal Lake, IL
      View Details
    • Contact for pricing
      1,320 SF

      Freestanding Brick Commercial Building

      Freestanding brick commercial building with a five-year lease.
      10 Virginia Rd, Crystal Lake, IL
      View Details

    FAQs

    What type of property is this?
    Land - Prime Redevelopment Opportunity: 0.6 Acres, B-2 Zoning
    Where is this land located?
    The property is located at 339 Virginia St Crystal Lake, IL.
    What is the asking price?
    The asking price for this property is $1,500,000.
    (630) 765-1987 Call to check price and availability
    Request Owner's contact information
    339 Virginia St Crystal Lake, IL 60014
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    339 Virginia St
    Crystal Lake, IL 60014
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    339 Virginia St Crystal Lake, IL 60014
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Raavi Sravan
    Raavi Sravan
    Real Estate License ID: 471021976
    (630) 765-1987
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!