Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    508 N River Rd Naperville, IL

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Commercial building with car wash and oil change business.

    Type:RETAIL
    Property size:
    7,790 SF
    Lot size:
    0.88 Acres
    Price / SF:
    $353/SF
    Added:
    May 24, 2024
    Days on Market:
    707
    Last Refresh:
    Apr 5 at 11:19 pm

    Property Features for 508 N River Rd

    General Information

    Standard status
    Active
    Size
    7,790 SF
    Lot size
    0.88 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Daniel T. Dolan
    Daniel T. Dolan

    Listing agent Daniel T. Dolan License #475120834

    Listing office Dolan & Murphy Inc

    Listing date May 24, 2024

    Source Moodyscre

    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 Dolan & Murphy Inc

    Overview

    Established Car Wash Business Opportunity

    This commercial building houses a well-established car wash and oil change business. The property features 4 drive-thru bays, 2 drive-in doors (DIDs), and 1 door specifically for the car wash operation. The owner is open to selling the business along with the property. The property size is 7790 square feet. Taxes for the year 2023 were $18,532.82.
    Location Intelligence

    Current Use by Public Records

    Oil Zone/Wash Zone Auto Repair Shop

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Naperville
    County
    Will
    State
    Illinois
    Longitude
    -88.1794
    Latitude
    41.7813

    Nearby Similar for Sale

    • $875,000

      Naperville Office Building For Sale

      Recently renovated office building in Naperville with high traffic exposure.
      849 N Ellsworth Street, Naperville, IL 60563
      View Details
    • $669,900

      Naperville Multi-Unit Investment Opportunity

      Multi-unit property in Naperville's Historic District, walk to everything!
      211 N Wright Street, Naperville, IL 60540
      View Details
    • $199,000

      Established Restaurant Business For Sale

      Successful neighborhood restaurant in Naperville, turnkey business opportunity.
      1995 Springbrook Square Drive, Naperville, IL 60564
      View Details
    • $550,000

      Luxury Automotive Gallery in Naperville

      Showroom-style motor condo with car lift, near I-88 and Route 59.
      2112 Ferry Road, Naperville, IL 60563
      View Details
    • $489,000

      Customized Car Condo in Naperville

      Unique car condo with mezzanine, storage, and entertainment features.
      2228 Ferry Road, Naperville, IL 60563
      View Details
    • $475,000

      Naperville Duplex Near Metra Station

      Redevelopment opportunity near downtown Naperville and Metra station.
      323 N Loomis Street, Naperville, IL 60540
      View Details
    • $2,400,000

      Luxury Duplex Near Metra Station

      Custom-built duplex with high-end finishes near downtown Naperville and Metra.
      715-717 N Brainard Street, Naperville, IL 60563
      View Details
    • $624,000

      Naperville Executive Office Space

      Professional office space in a prime Naperville location.
      2272 95th Street, Naperville, IL 60564
      View Details
    • $624,000

      Naperville Executive Office Space For Sale

      Professional office space in prime Naperville location, move-in ready.
      2272 95th Street 310, Naperville, IL 60564
      View Details
    • $3,950,000
      37,616 SF

      Naperville Office Building For Sale

      Well-located office building in Naperville, Illinois with strong demographics.
      1300 Iroquois Ave, Naperville, IL 60563
      View Details
    • $28
      52,101 SF

      Prime Retail and Restaurant Space

      Retail and restaurant spaces in a busy Naperville retail corridor.
      2764 Aurora Ave, Naperville, IL 60540
      View Details
    • $598,000

      Prime Office Condo in Naperville

      High-visibility office condo near downtown Naperville and Metra station.
      1001 E Chicago Avenue, Naperville, IL 60540
      View Details

    FAQs

    What type of property is this?
    Car wash - Commercial building with car wash and oil change business.
    Where is this car wash located?
    The property is located at 508 N River Rd Naperville, IL.
    What is the asking price?
    The asking price for this property is $2,750,000.
    What are key features of this property?
    This property features: Commercial building with a well‑established car wash and oil change business.; Owner would consider selling the business with the property.; Features **4 drive‑thru bays**.
    (630) 774-8523 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Daniel T. Dolan
    Daniel T. Dolan
    Real Estate License ID: 475120834
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!