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Modaff Plaza 501-541 W 87th St 22,300 SF 100% Leased Retail Building Naperville, IL 60565 $4,840,950 ($217.08/SF) 8% Cap Rate
INVESTMENT HIGHLIGHTS
- Anchoring the southwestern section of Naperville
- Situated between Kingsley Elementary School and Madison Junior High School
- Dense residential surrounding site
EXECUTIVE SUMMARY
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 $387,276 and a purchase price of $4,840,950, this offering delivers an attractive 8% capitalization rate.
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 $387,276 and a purchase price of $4,840,950, this offering delivers an attractive 8% capitalization rate.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Building Size
22,300 SF
Building Class
B
Year Built
1974
Price
$4,840,950
Price Per SF
$217.08
Cap Rate
8%
NOI
$387,276
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.26
Lot Size
1.97 AC
Parking
102 Spaces (4.66 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Number | 07-01-01-201-001 | Improvements Assessment | $476,806 |
| Land Assessment | $217,591 | Total Assessment | $694,397 |
PROPERTY TAXES
Parcel Number
07-01-01-201-001
Land Assessment
$217,591
Improvements Assessment
$476,806
Total Assessment
$694,397
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Modaff Plaza | 501-541 W 87th St
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