Strip Center - Naperville, IL
Retail | 8.25% CAP | 22,300 SqFt
Marketing description
Colliers is pleased to introduce this stabilized neighborhood strip center located at 501–541 W 87th Street in Naperville, Illinois. Positioned at 87th Street and Modaff Road, the property benefits from excellent visibility and strong local access. This fully occupied center includes a gas station and features a diverse tenant mix, offering strong in-place income and long-term investment stability.
The property spans approximately 22,300 square feet on a 1.97-acre lot and was originally constructed in 1974. With a Net Operating Income (NOI) of $390,558 and a purchase price of $4,735,000, this offering delivers an attractive 8.25% capitalization rate.
Investment highlights
Strategic Location
• Anchoring the southwestern section of Naperville.
• Dense residential surrounding site
• Situated between Kingsley Elementary School and Madison Junior High School
Strong Investment Fundamentals
• 93.72% leased
• Long term leases in place
• Average length of tenancy is more than 8 years
• The strip is filled with service-necessary tenants.
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