10 Virginia Rd Crystal Lake, IL 60014
- Commercial real estate
- 1,320 SF
- 0.30 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 10 Virginia Rd
- Year built
- 1971
- Lot size
- 0.30 lot acres
- Property size
- 1,320 SF
- Property type
- Commercial real estate
- APN
- 19-08-254-008
- APU
- 1908254008
Description
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.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Crystal Lake
- County
- Mchenry
- State
- Illinois
- Longitude
- -88.3209
- Latitude
- 42.2203
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
