30 N Broadway Ave
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30 N Broadway Ave
4,500 SF Retail Building Aurora, IL 60505 $585,000 ($130/SF) 9.25% Cap Rate
Investment Highlights
- New 5 year Retinal Tenant with Multiple Locations - Lease Expiration Date - April 30, 2029
- Appartmant, Unit 201, set to expire March 30, 2025... Leased at $ 1,775 per month, $300 increase from previous tenant
- Favorable CAP Rate at 9.25%.... with Existing (revised) List Price
- Recently competed $40,000 (approx.) "Retail Tenant Funded" Build out
- High Demand Apartment Unit 301 set to expire June 30, 2025... Leased at $1,900 per month, $400 increase from previous tenant
Executive Summary
9.25% CAP RATE!: 100% OCCUPIED INVESTMENT PROPERTY - Mix use three story property in the heart of Historic Downtown Aurora IL which is in its 2nd Phase of its Renaissance… Amazing on how Aurora IL (just 40 miles from Downtown Chicago) is transforming to become a desirable and affordable Urban Lifestyle Destination. With multiple City and Development projects completed and currently underway…. Eyes Are On Aurora IL!
Aurora is surrounded by, Multi-Cultural Diversity, Arts, Entertainment, Dining and Proud Vibrant and Supportive Community with wonderful and popular civic events such as First Fridays, Farmers Markets and various family events, parades and other festivities throughout the year.
This property has great visibility from West bound New York Street and South and North bound N Broadway. City parking lot in very close proximity. Location within walking distance to Metro Train Station and nearby entertainment which includes but not limited to Paramount Theater, RiverEdge Park, The Venue, French 75 and a variety of Restaurants, Pubs, Coffee Houses and Art Galleries and Artisans’ Shops and a Music Scene that is in its infancy….
Aurora has blossomed and continues to do so since this properties transformation in 2018… with two beautifully updated 2 bedroom 2 bath and fully rented residential units equipped with updated kitchen appliances, washer/dryer. The 1,500 sq/ft retail space, has a 5 year lease commitment with tenant financed buildout currently underway. EXCELLET INVESTMENT POTENTAL!!!
Financial qualifications required prior to scheduling showings. Contact the Listing Agent for more details.
Aurora is surrounded by, Multi-Cultural Diversity, Arts, Entertainment, Dining and Proud Vibrant and Supportive Community with wonderful and popular civic events such as First Fridays, Farmers Markets and various family events, parades and other festivities throughout the year.
This property has great visibility from West bound New York Street and South and North bound N Broadway. City parking lot in very close proximity. Location within walking distance to Metro Train Station and nearby entertainment which includes but not limited to Paramount Theater, RiverEdge Park, The Venue, French 75 and a variety of Restaurants, Pubs, Coffee Houses and Art Galleries and Artisans’ Shops and a Music Scene that is in its infancy….
Aurora has blossomed and continues to do so since this properties transformation in 2018… with two beautifully updated 2 bedroom 2 bath and fully rented residential units equipped with updated kitchen appliances, washer/dryer. The 1,500 sq/ft retail space, has a 5 year lease commitment with tenant financed buildout currently underway. EXCELLET INVESTMENT POTENTAL!!!
Financial qualifications required prior to scheduling showings. Contact the Listing Agent for more details.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$65,700
|
$14.60
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$65,700
|
$14.60
|
| Taxes |
$3,896
|
$0.87
|
| Operating Expenses |
$7,664
|
$1.70
|
| Total Expenses |
$11,560
|
$2.57
|
| Net Operating Income |
$54,140
|
$12.03
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $65,700 |
| Annual Per SF | $14.60 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $65,700 |
| Annual Per SF | $14.60 |
| Taxes | |
|---|---|
| Annual | $3,896 |
| Annual Per SF | $0.87 |
| Operating Expenses | |
|---|---|
| Annual | $7,664 |
| Annual Per SF | $1.70 |
| Total Expenses | |
|---|---|
| Annual | $11,560 |
| Annual Per SF | $2.57 |
| Net Operating Income | |
|---|---|
| Annual | $54,140 |
| Annual Per SF | $12.03 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
4,500 SF
Building Class
C
Year Built
1900
Price
$585,000
Price Per SF
$130
Cap Rate
9.25%
NOI
$54,140
Tenancy
Single
Building Height
3 Stories
Building FAR
2.07
Land Acres
0.05 AC
Zoning
CORE - Business, Retail
Parking
35 Spaces (7.78 Spaces per 1,000 SF Leased)
Frontage
22 FT on N Broadway
Amenities
- Signage
Walk Score ®
Very Walkable (87)
Bike Score ®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 15-22-331-006 | Total Assessment | $45,987 (2023) |
| Land Assessment | $11,344 (2023) | Annual Taxes | $3,896 ($0.87/SF) |
| Improvements Assessment | $34,643 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
15-22-331-006
Land Assessment
$11,344 (2023)
Improvements Assessment
$34,643 (2023)
Total Assessment
$45,987 (2023)
Annual Taxes
$3,896 ($0.87/SF)
Tax Year
2024
-
Thomas Tsipas -
Neos /Keller Williams Inifinity
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