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    10 Virginia Rd Crystal Lake, IL 60014

    Sponsored
    For Sale
    $231,000

    1,320 SF Executive Office, 6.11% Cap Rate

    Property size:
    1,320 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 1,320 square foot freestanding office building presents a compelling investment opportunity in Crystal Lake, Illinois. Located at 10 S Virginia Rd, 60014, this single-tenant property boasts a desirable location in a mixed-use neighborhood, surrounded by established national and local restaurants. The all-brick building, constructed in 1971, sits on a 0.28-acre lot and is zoned B1. The interior features private offices, a reception area, open workspace, and a kitchenette, catering to a variety of business needs. A rear parking lot provides ample parking for 16 vehicles. Currently under a five-year lease (with an option to terminate after three years) commencing February 1st, 2023, the property offers a strong return on investment with a 6.11% cap rate and an asking price of $231,000 ($175 per square foot). The affluent surrounding area boasts an average household income exceeding $101,978 within a two-mile radius, ensuring a stable and potentially growing tenant base. This owner/user opportunity is perfect for an investor seeking a strong return and a prime location in a thriving community. The property's single-story design and convenient layout make it an attractive option for a variety of businesses.

    Property Features for 10 Virginia Rd

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    1,320 SF
    Lot Size
    12,197 SF

    Building Details

    Year Built
    1971
    Stories
    1

    HighLights

    • $231,000 asking price for a 1,320 sq ft office building.
    • Owner/user investment opportunity with a 5‑year lease (3‑year termination option).
    • Located at 10 S Virginia Rd, Crystal Lake, IL 60014.
    • Features include private offices, reception area, open workspace, and kitchenette.
    • 16‑space rear employee parking lot.
    • 6.11% cap rate with a price per square foot of $175.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Crystal Lake
    County
    McHenry
    State
    Illinois
    Longitude
    -88.320875
    Latitude
    42.2203942

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    FAQs

    What type of property is this?
    Office Property / Space - 1,320 SF Executive Office, 6.11% Cap Rate
    Where is this office property / space located?
    The property is located at 10 Virginia Rd Crystal Lake, IL.
    What is the asking price?
    The asking price for this property is $231,000.
    What are key features of this property?
    This property features: $231,000 asking price for a 1,320 sq ft office building.; Owner/user investment opportunity with a 5-year lease (3-year termination option).; Located at 10 S Virginia Rd, Crystal Lake, IL 60014.
    Request Owner's contact information
    10 Virginia Rd Crystal Lake, IL 60014
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    Crystal Lake, IL 60014
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    Realmo Value Estimation

    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.

    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.

    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
    10 Virginia Rd Crystal Lake, IL 60014
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