$ 2,250,000
8-28 S Van Buren ST Batavia, IL 60510
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$ 2,250,000
Est. payment | /mo
24,113 SqFt
$ 2,250,000
Est. payment | /mo
24,113 SqFt
Key Details
Property Type Commercial
Sub Type Retail/Stores
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 24,113 sqft
Price per Sqft $93
MLS Listing ID 12128548
Year Built 1989
Annual Tax Amount $47,108
Tax Year 2023
Lot Dimensions 60 X 150
Property Description
Introducing a prime investment opportunity in downtown Batavia IL. This grocery anchored retail center is a 7% cap rate at the list price. The majority of the 7 fully occupied units are long term tenants. The center is strategically located to provide essential services to a high density residential demographic. This contributes to the success of the tenants and is reflected in the long term tenancies. Below market rents provide a tremendous value add opportunity for new ownership. The Berkeley Finer Foods lease expires May 2025 providing an opportunity for possible lease renegotiation, owner user concepts or redevelopment. It also provides an opportunity to capture higher rents for potential uses such as brewpub, daycare, restaurant etc enhancing future value of the center significantly. Recent improvements to the building include replacement of rooftop units and parking lot resurfacing. Take advantage of this established, lucrative retail center investment in an affluent area, offering a secure and promising addition to your portfolio
Location
State IL
County Kane
Area Batavia
Interior
Cooling Central Air
Fireplace N
Building
Dwelling Type Retail/Stores
Level or Stories 1
Structure Type Block
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by George Sloan • Coldwell Banker Commercial Real Estate Group
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Sanjay Marathe
REALTOR® | Lic# 475168373