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    452 State Rd - Is Lk Island Lake, IL 60042
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    452 State Rd - Is Lk, Island Lake, IL 60042

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    • Retail properties & Spaces
    • 7,130 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 452 State Rd - Is Lk

    Year built
    2010
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This exceptional retail property, located at 452 W State Rd in Island Lake, IL (zip code 60042), offers 7,130 square feet of versatile space in a thriving commercial area. Built in 2010, the building sits on a substantial 16.5-acre lot and is currently configured for multiple tenants. Individual spaces range from 1,310 square feet minimum, with two units currently available, measuring between 920 and 1,400 square feet. The property boasts strong curb appeal and benefits from high visibility, situated along the east side of Route 176 and State Road, with traffic counts exceeding 22,000 vehicles daily. This location offers excellent access and exposure for businesses seeking a high-traffic environment. The property is located in McHenry County and enjoys the benefit of strong neighboring businesses, including Lakeside Immediate Care, Walgreens, McDonald's, Dunkin' Donuts, and AutoZone. Existing co-tenants include Snap Fitness, creating a synergistic and established commercial environment. This property presents a unique opportunity for businesses seeking a well-located, high-traffic retail space in a growing community. The property type is retail, with storefront and office subtypes.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Island Lake
    County
    McHenry
    State
    Illinois
    Longitude
    -88.2076
    Latitude
    42.2819

    Comparable in this City

    • Value Estimation
      $745,000
      16,486 SF

      217 State Rd

      RETAIL STORES (PERSONAL SERVICES)
      217 State Rd, Island Lake, IL 60042-9551
      View Details
    • Value Estimation by Request
      9,320 SF

      211 State Rd

      RETAIL STORES (PERSONAL SERVICES)
      211 State Rd, Island Lake, IL 60042-9555
      View Details
    • Value Estimation by Request
      5,700 SF

      113 State Rd

      RETAIL STORES (PERSONAL SERVICES)
      113 State Rd, Island Lake, IL 60042-9645
      View Details
    • Value Estimation by Request
      2,768 SF

      103 State Rd

      RETAIL STORES (PERSONAL SERVICES)
      103 State Rd, Island Lake, IL 60042-9645
      View Details
    • Value Estimation
      $1,800,000
      19,630 SF

      125 State Rd

      RETAIL STORES (PERSONAL SERVICES)
      125 State Rd, Island Lake, IL 60042-9612
      View Details
    • Value Estimation
      $555,000
      15,000 SF

      225 State Rd

      RETAIL STORES (PERSONAL SERVICES)
      225 State Rd, Island Lake, IL 60042
      View Details

    Similar Nearby for Sale

    • $1,500,000
      7.51 Acres

      Island Lake Commercial Land Available

      Highly visible 7.5 acre commercial land for sale.
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      View Details
    • Contact for pricing
      10,600 SF

      Renovated Retail Building in Island Lake

      Fully renovated retail building occupied by Emerald Dispensary.
      660 E State Rd, Island Lake, IL 60042
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      Renovated Retail Building with Lounge

      Turn-key retail building with high-end dispensary and consumption lounge.
      660 E State Rd, Island Lake, IL 60042
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      Established Restaurant Investment Opportunity

      Well-maintained restaurant on a high-traffic corridor with strong cash flow.
      310 E State Rd, Island Lake, IL 60042
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      Residential Land in Island Lake

      Residential land available for building a dream home.
      Park Dr, Island Lake, IL 60042
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    • $49,900

      Land in Prairie Woods Subdivision

      Residential land suitable for building a home with walk-out basement.
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    Similar Nearby for Lease

    • Contact for pricing
      5,800 SF

      Remodeled Retail Space in Island Lake

      1,300 SF remodeled retail space in Westridge Shopping Center.
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    • Contact for pricing

      High Visibility Island Lake Retail

      Retail space in high-traffic shopping center with ample parking.
      125 E State Rd, Island Lake, IL 60042
      View Details
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    Island Lake, IL 60042
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    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
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