Description

​

Marcus & Millichap has been selected to exclusively market for sale 216-218 Main Street, Naperville Illinois. The subject property is 100 percent occupied, 7,050-square foot mixed-use building. The asset consists of five tenants. Two retail tenants: Alixandra Collections, J McLaughlin which are located at street level and three office tenants: Passages, Memory Keepers and Brodzinski Law whom occupy suites on the second and third floors. These suites are modernized units with top-of-the-line finishing and detail. This irreplaceable Naperville location has great positioning, located in densely occupied downtown Naperville.

The offering is easy to own and manage making it an ideal opportunity for a passive cash-flow investor either local, regionally, or national. The buyer has the ability to increase cash flow and value by converting the only gross lease to NNN. Alixandra Collections does not have an option to extend. Back-filling this unit with a NNN tenant who pays their prorate share of all expenses will increase the NOI $13,000. At the list cap rate, the value of the building increases $224,000. Downtown Naperville retail corridor is achieving average retail rents in the range of $45-$75 per square foot on a net basis. The subject rents are $43-50 NNN. This property has high historically occupancy. It is centrally located on Main Street's historic retail corridor with over one million square feet of retail (1,387,899 square feet). This seller has owned and self-managed the property for over 12 years. This asset is meticulously maintained with no deferred maintenance.