Turn-Key Restaurant with Assignable
For Sale
$500,000
2764 Aurora Ave Ste 108, Naperville, IL 60540
Turn-key restaurant sale with assignable lease, including a recently renovated dining room and complete kitchen buildout.
Property Size3,737 SF
Price / SF$133.80
Days on Market55
Property Features for 2764 Aurora Ave Ste 108
General Information
Standard status
Active
Size
3,737 SF
Property subtype
Retail
Additional Details
Business Included
Yes
Commercial Hood
Yes
Building Details
Year Built
2025
Year Renovated
2025
Listing Agency:
SVN | Landmark Commercial Real Estate
(630) 270-6949
Listed By:
Joel Miller, CCIM · License #475152032
(630) 270-6949
Source:
Svn
Added: Jun 18
Changed: Jul 10
Last Checked: Aug 11 at 5:30AM
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.
This turn-key restaurant asset is offered for sale with an assignable lease. The space includes an upscale dining buildout with seven table grills and corresponding hoods, along with a full kitchen designed for efficient workflow. The dining room was fully renovated in 2025, with new equipment throughout, positioning the operation for immediate use with minimal in-place changes.
The restaurant is positioned across from Block 59 in Naperville, Illinois, with Cheesecake Factory located across the way. The property sits in a retail corridor anchored by Michaels and Menards, providing a strong mix of established shopping tenants in the immediate area.
For operators and buyers seeking an already-built restaurant concept, this offering provides a complete interior kitchen and dining configuration supported by the 2025 renovation and updated equipment. The assignable lease structure also allows interested parties to transition with continuity while leveraging the existing restaurant improvements in place.
The restaurant is positioned across from Block 59 in Naperville, Illinois, with Cheesecake Factory located across the way. The property sits in a retail corridor anchored by Michaels and Menards, providing a strong mix of established shopping tenants in the immediate area.
For operators and buyers seeking an already-built restaurant concept, this offering provides a complete interior kitchen and dining configuration supported by the 2025 renovation and updated equipment. The assignable lease structure also allows interested parties to transition with continuity while leveraging the existing restaurant improvements in place.
Key Highlights
- Turn‑key 3,737 SF restaurant asset sale (real estate not included) with an assignable lease
- Dining room fully renovated in 2025 with new equipment throughout
- Includes full kitchen buildout with seven table grills and hoods
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
$36,901
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
7.38%
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%
$738,020
$738.0K
Cap Rate 7%
$527,157
$527.2K
Cap Rate 9%
$410,011
$410.0K
Market Conditions
NOI Build-Up for 3,737 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
$53.4K $14.28/SF
− Vacancy
−$4.2K −$1.11/SF
EGI
$49.2K $13.17/SF
− OpEx
−$12.3K −$3.29/SF
NOI
$36.9K $9.87/SF
Area
Naperville, IL
Vacancy
7.80%
Lease Rate
$14.28 /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%
$738,020
Cap Rate 7%
$527,157
Cap Rate 9%
$410,011
Alternative Uses
Best Use
Specialty Retail
$527.2K
$461.3K – $615.0K
NOI $36,901 @ 7.0% cap · market cap 7.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$843.5K
$738.1K – $984.1K
NOI $59,047 @ 7.0% cap · market cap 11.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
985
Businesses Nearby
436k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 42%
Shops & Services 24%
Home Improvements & Furnishings 15%
Electronics 10%
Kohl's
Apparel
54,768 visits/mo
0.5 miles
Menards
Home Improvements & Furnishings
50,714 visits/mo
0.1 miles
Burlington
Apparel
41,879 visits/mo
0.2 miles
Dollar Tree
Shops & Services
40,128 visits/mo
0.4 miles
Ross Dress for Less
Apparel
34,536 visits/mo
0.2 miles
Demographics for 60540, IL
44,201
Population
16,253
Households
2.7
Avg Household Size
41
Median Age
72%
College-Educated
98%
High-School Grad
13.2 sq mi
ZIP Area
3,349
Density / Sq Mi
$155,866
Median Household Income
$70,026
Median Earnings
$1,982
Median Rent
$504,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turn-key restaurant sale with assignable lease, including a recently renovated dining room and complete kitchen buildout.
Where is this conventional restaurant located?
The property is located at 2764 Aurora Ave Ste 108 Naperville, IL.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Turn‑key 3,737 SF restaurant asset sale (real estate not included) with an assignable lease; Dining room fully renovated in 2025 with new equipment throughout; Includes full kitchen buildout with seven table grills and hoods
