$2,250,000

8-28 S Van Buren Street, Batavia IL, 60510

Price per sqft$93.31

Built in1989

Property size24,113 sqft

Property typeCommercial

Bought with Oscar Brand with RE/MAX City and Listed by George Sloan with Coldwell Banker Commercial Real Estate Group 630-362-3525

Overview

Sold

Closed

Listed Aug 2, 2024

Updated May 29

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

Additional information

MLS^® ID: 12128548

Interior Features

Bedrooms: 0
Cooling: Yes
Basement: No

Exterior Features

Lot Size: 1.34 Acres

Other Property Details

Taxes: $47,108
Tax Frequency: Annually

Bought with Oscar Brand with RE/MAX City and Listed by George Sloan with Coldwell Banker Commercial Real Estate Group 630-362-3525

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