Fully Occupied Flex
For Sale
$3,750,000
1272 Bond St, Naperville, IL 60563
Adaptable commercial building with front windows convertible to roll-up doors and OCI zoning.
Property Size21,163 SF
Lot Size2.12 Acres
Price / SF$177.20
Days on Market52
Property Features for 1272 Bond St
General Information
Standard status
Active
Size
21,163 SF
Total Parking Spaces
110
Lot size
2.12 Acres
Property subtype
Office
Zoning
OCI
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Cap Rate
7.42%
Amenities
Ideal DuPage County Location | One of Chicagoland's Most Desirable Submarkets
Premium Naperville Office/Industrial Flex Building | Designed for Versatility and Future Adaptability
100 Percent Occupied | Long-Operating History - Meher Montessori Academy has been Operating at this Site Since 2012 and Cultivate Since 2019
Several Front-Facing Windows are Designed for Conversion to Roll-Up Doors, Enabling a Seamless Transition to Light Industrial Flex Use if Desired
Flexible and Favorable Zoning - (OCI) Office/Commercial/Institutional District
Prime Location Near Major Thoroughfares (Route 59 with 50,500 Vehicles per Day) and Interstate-88 (139,000 Vehicles per Day)
Average Household Income Exceeds $150,000 within Five Miles
Building Details
Building Size
21,163 SF
Year Built
2003
Buildings
1
Tenancy
Multi
Listing Agency:
Chicago Oak Brook Office
(630) 570-2238
Listed By:
Sean R. Sharko · License #License(s): IL: 471.010712
(630) 570-2238
Source:
Marcusmillichap
Added: Jul 11
Changed: Aug 30
Last Checked: Aug 30 at 8:31PM
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 Chicago Oak Brook Office
Investment Insights
Based on property information with market context.
Built in 2003, this 21,163-square-foot flex property is fully occupied by a diverse group of tenants, including Meher Montessori Academy, Cultivate, Happy Place Family Services, and Lange Logistics. The 2.12-acre site provides 110 parking spaces, while the building’s front-facing windows can be converted to roll-up doors to support a light industrial flex configuration. Meher Montessori Academy has been at the property since 2012, and Cultivate since 2019. Cultivate and Lange Logistics each have more than five years of lease term remaining.
The property is located 0.3 miles from Route 59 and one mile from Interstate 88, with the Metra BNSF line nearby. It sits within a Naperville employment hub containing more than 120,000 employees within three miles and more than 76,000 residents within the same radius. OCI zoning adds flexibility to the existing commercial use.
The property is located 0.3 miles from Route 59 and one mile from Interstate 88, with the Metra BNSF line nearby. It sits within a Naperville employment hub containing more than 120,000 employees within three miles and more than 76,000 residents within the same radius. OCI zoning adds flexibility to the existing commercial use.
Key Highlights
- 100% occupied by Meher Montessori Academy, Cultivate, Happy Place Family Services, and Lange Logistics
- 21,163 SF flex building constructed in 2003
- 2.12‑acre site with 110 parking spaces
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
$250,216
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
6.67%
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%
$5,004,320
$5.0M
Cap Rate 7%
$3,574,514
$3.6M
Cap Rate 9%
$2,780,178
$2.8M
Market Conditions
NOI Build-Up for 21,163 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
$441.9K $20.88/SF
− Vacancy
−$108.3K −$5.12/SF
EGI
$333.6K $15.76/SF
− OpEx
−$83.4K −$3.94/SF
NOI
$250.2K $11.82/SF
Area
Naperville, IL
Vacancy
24.50%
Lease Rate
$20.88 /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%
$5,004,320
Cap Rate 7%
$3,574,514
Cap Rate 9%
$2,780,178
Alternative Uses
Best Use
Office B
$3.57M
$3.13M – $4.17M
NOI $250,216 @ 7.0% cap · market cap 6.67%
Second Best
Industrial
$3.09M
$2.70M – $3.60M
NOI $216,078 @ 7.0% cap · market cap 5.76%
Theoretical Best
Office A
$4.78M
$4.18M – $5.57M
NOI $334,389 @ 7.0% cap · market cap 8.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
895
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 60563, IL
37,997
Population
16,911
Households
2.2
Avg Household Size
38
Median Age
66%
College-Educated
96%
High-School Grad
14.6 sq mi
ZIP Area
2,603
Density / Sq Mi
$106,207
Median Household Income
$71,782
Median Earnings
$1,786
Median Rent
$422,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Biryani Pot — 2811 Patriot's Ln #101, Naperville, IL 60563
- Web Pro Chicago — 1904 Brookdale Rd Suite 128, Naperville, IL 60563
- 2 Twisted Chefs — 1904 Brookdale Rd Suite 128, Naperville, IL 60563
- ANMOL - Catering & Events — 1550 Illinois Rte 59 Suite # 170, Naperville, IL 60563
- Laziz Food Of India - Homemade food and catering services — 1617 Westminster Dr, Naperville, IL 60563
Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial building with front windows convertible to roll-up doors and OCI zoning.
Where is this flex space located?
The property is located at 1272 Bond St Naperville, IL.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: 100% occupied by Meher Montessori Academy, Cultivate, Happy Place Family Services, and Lange Logistics; 21,163 SF flex building constructed in 2003; 2.12‑acre site with 110 parking spaces
