Vintage Office
For Sale
Contact for pricing
117 S Prairie St, Batavia, IL 60510
Vintage office building with convenient access to I-88 and walkable downtown Batavia dining and shops.
Property Size1,272 SF
Price / SF$251.57
Days on Market380
Property Features for 117 S Prairie St
General Information
Standard status
Active
Size
1,272 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Listing Agency:
SVN | Landmark Commercial Real Estate
(630) 254-4734
Listed By:
Jeff Cadwallader · License #475116201
(630) 254-4734
Source:
Moodyscre
Added: Aug 4, 2025
Changed: Aug 16
Last Checked: Aug 16 at 9:32AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SVN | Landmark Commercial Real Estate
Investment Insights
Based on property information with market context.
Vintage office building totaling 1,272 SF, suited for professional office or service use. The property’s size supports a smaller-footprint operation where efficient space planning matters.
The location places you within walking distance of downtown Batavia restaurants and shops, with convenient access to major routes. It’s minutes to Kirk Road and provides access to I-88, supporting business travel for both staff and clients.
Overall, the building offers a classic presence with a practical footprint for an owner-operator or professional tenant seeking a downtown-adjacent office setting.
The location places you within walking distance of downtown Batavia restaurants and shops, with convenient access to major routes. It’s minutes to Kirk Road and provides access to I-88, supporting business travel for both staff and clients.
Overall, the building offers a classic presence with a practical footprint for an owner-operator or professional tenant seeking a downtown-adjacent office setting.
Key Highlights
- 1,272 SF vintage office building
- Walk to downtown Batavia restaurants and shops
- Minutes to Kirk Road
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,539
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$350,780
$350.8K
Cap Rate 7%
$250,557
$250.6K
Cap Rate 9%
$194,878
$194.9K
Market Conditions
NOI Build-Up for 1,272 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$31.1K $24.48/SF
− Vacancy
−$7.8K −$6.10/SF
EGI
$23.4K $18.38/SF
− OpEx
−$5.8K −$4.60/SF
NOI
$17.5K $13.79/SF
Area
Kane County, IL
Vacancy
24.90%
Lease Rate
$24.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$350,780
Cap Rate 7%
$250,557
Cap Rate 9%
$194,878
Alternative Uses
Best Use
Office B
$250.6K
$219.2K – $292.3K
NOI $17,539 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$439.2K
$384.3K – $512.4K
NOI $30,741 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,014
Businesses Nearby
Explore this area
Business Placement
Demographics for 60510, IL
28,156
Population
11,234
Households
2.5
Avg Household Size
42
Median Age
56%
College-Educated
97%
High-School Grad
24.4 sq mi
ZIP Area
1,154
Density / Sq Mi
$120,925
Median Household Income
$57,884
Median Earnings
$1,285
Median Rent
$363,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Vintage office building with convenient access to I-88 and walkable downtown Batavia dining and shops.
Where is this office building located?
The property is located at 117 S Prairie St Batavia, IL.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: 1,272 SF vintage office building; Walk to downtown Batavia restaurants and shops; Minutes to Kirk Road
