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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7255 Grand Ave Gurnee, IL 60031-5270

    • Automotive properties
    • 26,793 SF
    • 5.78 lot acres
    OFF-MARKET
    Last Sale
    Apr 26, 2021
    $4,500,000
    Value Estimations
    $5,365,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1182816
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Gurnee Chrysler Jeep Dodge Ram / Jeep Dealer / Car Dealer

    Property Details for 7255 Grand Ave

    Year built
    1999
    Construction
    BRICK
    Lot size
    5.78 lot acres
    Property size
    26,793 SF
    Property type
    Automotive properties
    APN
    07-18-210-025
    APU
    718210025

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,125,000
      ML approach
      $4,985,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,085,000
      Market price range: $1.94M - $6.89M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $4,685,000
      Current use
      OFFICE BUILDING
      $6,305,000
      Change: +35% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $4,860,000
      Change: +4% Conversion: Moderate
      RESTAURANT
      $4,570,000
      Change: -2% Conversion: Difficult
      WAREHOUSE, STORAGE
      $4,540,000
      Change: -3% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Gurnee
    County
    Lake
    State
    Illinois
    Longitude
    -87.9836
    Latitude
    42.3847
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $119,424
    $768,086
    $456,121
    $1,224,207
    -
    $2,304,488
    $1,368,500
    $3,672,988

    Comparable in this City

    • Value Estimation
      $3,790,000
      45,369 SF

      18600 Grand Ave

      VEHICLE SALES, RENTALS • 45,369 SF
      18600 Grand Ave, Gurnee, IL 60031-1511
      View Details
    • Value Estimation
      $780,000
      26,556 SF

      6301 Grand Ave

      VEHICLE SALES, RENTALS • 26,556 SF
      6301 Grand Ave, Gurnee, IL 60031-4501
      View Details
    • Value Estimation
      $640,000
      14,880 SF

      7000 Grand Ave

      VEHICLE SALES, RENTALS • 14,880 SF
      7000 Grand Ave, Gurnee, IL 60031-1626
      View Details
    • Value Estimation
      $3,970,000
      39,284 SF

      7225 Grand Ave

      VEHICLE SALES, RENTALS • 39,284 SF
      7225 Grand Ave, Gurnee, IL 60031-5270
      View Details
    • Value Estimation
      $450,000
      3,360 SF

      777 Belle Plaine Ave

      SERVICE STATION WITH FOOD MART • 3,360 SF
      777 Belle Plaine Ave, Gurnee, IL 60031-2982
      View Details
    • Value Estimation
      $1,080,000
      2,400 SF

      3570 Washington St

      SERVICE STATION WITH FOOD MART • 2,400 SF
      3570 Washington St, Gurnee, IL 60031-3396
      View Details

    Similar Nearby for Sale

    • $1,500,000
      7,800 SF

      Gurnee Restaurant - Turnkey Opportunity

      Established Restaurant, 7,800 SF, Prime Location
      7680 Grand Ave, Gurnee, IL 60031
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      142,073 SF

      Freestanding Retail Building in Gurnee

      Retail building in established commercial corridor near major attractions.
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      Gurnee Restaurant Building on Corner

      7,220 SF restaurant on 2.18 AC corner lot.
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      Gurnee Town Center Retail Space

      Dominant power center in Gurnee's regional trade area.
      7105 Grand Ave, Gurnee, IL 60031
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    • $1,025,000
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      Gurnee Commercial Investment Opportunity

      Versatile commercial property in Gurnee with flexible zoning.
      34498 N Old Walnut Cir, Gurnee, IL 60031
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    • $1,749,000
      19,000 SF

      Gurnee, IL Mixed-Use Investment

      19,000 SF Industrial/Retail Opportunity
      3500 Grand Ave, Gurnee, IL 60031
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Gurnee Commercial Space For Rent

      Commercial space in Gurnee, suitable for automotive or retail businesses.
      3816 Grandview Ave, Gurnee, IL 60031
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      Gurnee Commercial Space for Rent

      Convenient Gurnee location with multiple possibilities.
      3816 Grandview Ave, Gurnee, IL 60031
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      26,836 SF

      Retail Space Near Gurnee Mills

      Retail space with high visibility near Gurnee Mills.
      6050 Gurnee Mills Cir E, Gurnee, IL 60031
      View Details
    • Contact for pricing
      37,462 SF

      Gurnee Commercial Space For Rent

      New commercial building in Gurnee, ideal for retail or office.
      34498 N Old Walnut Cir, Gurnee, IL 60031
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      149,957 SF

      Stonebrook Commons Retail Space

      Gurnee, IL: Prime Retail Outparcel Available
      0 Sec Grand Ave & Stonebrook Dr, Gurnee, IL 60031
      View Details
    • Contact for pricing
      12,000 SF

      Gurnee Retail Space For Lease

      High-traffic location, 1,901 sq ft available.
      7010 Grand Ave, Gurnee, IL 60031
      View Details

    Property Visit Statistics

    • Visits by month
      530
    • Visitors by month
      437
    • Avg Time on site
      27 min
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    Gurnee, IL 60031-5270
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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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