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Ichiddo Anchored Mixed-Use | 4-Apartments 204 S Washington St 5,213 SF 100% Leased Retail Building Naperville, IL 60540 $2,920,000 ($560.14/SF) 7.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Mixed-Use Retail and Residential Building in the Heart of Downtown Naperville
- Ichiddo Ramen has 8.3 Years of Term Remaining with Three Percent Annual Rental Increase
- Located at the Intersection of S Washington St and E Jefferson Ave which sees a Combined Traffic Volume of 25,200 Vehicles per Day
- Signalized Hard-Corner Intersection | Highly Visible and Accessible
- Four Apartment Units Located on the Second Floor | All Under One-Year Lease Terms | Below Market Rents
- Average Household Income of $198,589 within a One-Mile Radius
EXECUTIVE SUMMARY
This mixed-use property is anchored by Ichiddo Ramen with 8.3 years remaining on its lease, three percent annual rent increases, and a five-year renewal option. Four apartment units above provide additional income on one-year terms. The asset sits at a signalized hard-corner on Washington Street, downtown Naperville’s main entryway, with traffic counts exceeding 25,000 vehicles daily. Just 0.6 miles from the Metra BNSF Station and steps from the Riverwalk, the location benefits from heavy commuter and visitor traffic. Downtown Naperville is a premier regional destination, drawing millions of annual visitors. Recent city streetscape improvements further enhance the pedestrian and retail environment. The property is surrounded by affluent demographics, with an average household income of nearly $200,000 within one mile and a dense population and employment base nearby.
DATA ROOM Click Here to Access
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
5,213 SF
Building Class
C
Year Built/Renovated
1970/2021
Price
$2,920,000
Price Per SF
$560.14
Cap Rate
7.25%
NOI
$211,570
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.71
Lot Size
0.07 AC
Zoning
B-5 - Downtown Core District - Commercial Service District
Frontage
AMENITIES
- Corner Lot
- Signage
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Accommodation and Food Services
- -
- -
-
Lorem Ipsum
-
Jan 0000
Ichiddo Ramen is Minnesota based authentic Japanese ramen (noodle) restaurant, currently, they operate in the Midwest and West Coast of the US. They serve a variety of their own special menu, serves with beef, chicken, and seafood charsiu ramen, donburi, fried rice, stir-fried ramen, fresh appetizers, and beverage. They serve lunch and dinner. As an additional, they have more than 15 different topping options for your choice, you will choose the ramen according to the topping, or your choose topping according to the ramen.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Accommodation and Food Services | - | - | Lorem Ipsum | Jan 0000 |
Walk Score®
Walker's Paradise (97)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 07-13-431-014 | Improvements Assessment | $372,595 |
| Land Assessment | $84,825 | Total Assessment | $457,420 |
PROPERTY TAXES
Parcel Number
07-13-431-014
Land Assessment
$84,825
Improvements Assessment
$372,595
Total Assessment
$457,420
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Ichiddo Anchored Mixed-Use | 4-Apartments | 204 S Washington St
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