Mixed-Use Property with
For Sale
$472,000
818 E New York Street, Aurora, IL 60505
Combines business-use areas, residential units, basement storage, and an attached garage.
Property Size5,622 SF
Price / SF$94.40
Days on Market515
Property Features for 818 E New York Street
General Information
Standard status
Active
Size
5,622 SF
Property subtype
Commercial
Zoning
COMMR
Taxes and HOA fees
Annual Taxes
$11,378
Amenities
full basement
attached garage
Building Details
Building Size
5,622 SF
Year Built
1900
Stories
2
Units
4
Listing Agency:
Century 21 Circle - Aurora
(630) 897-4114
Listed By:
Dianne Yelm · License #475129239
(630) 897-4114
Source:
Ozmentrealestate
Added: Apr 5, 2025
Changed: Aug 31
Last Checked: Aug 2 at 8:41AM
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 Century 21 Circle - Aurora
Investment Insights
Based on property information with market context.
This mixed-use property at 818 E New York Street in Aurora combines commercial and residential functionality within a substantial existing building. The layout includes 2–3 business-use spaces alongside two apartments, offering a configuration for occupants seeking integrated work and living areas.
The property also includes a full basement for storage, an attached garage, and on-site parking. Built in 1900, the building is identified for COMMR zoning and provides more than 5,000 square feet across its mixed-use configuration.
The property also includes a full basement for storage, an attached garage, and on-site parking. Built in 1900, the building is identified for COMMR zoning and provides more than 5,000 square feet across its mixed-use configuration.
Key Highlights
- More than 5,000 square feet of mixed‑use space
- 2–3 business‑use spaces plus two apartments
- Full basement provides additional storage
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
$43,040
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
9.12%
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%
$860,800
$860.8K
Cap Rate 7%
$614,857
$614.9K
Cap Rate 9%
$478,222
$478.2K
Market Conditions
NOI Build-Up for 5,000 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
$82.2K $16.44/SF
− Vacancy
−$3.9K −$0.79/SF
EGI
$78.3K $15.65/SF
− OpEx
−$35.2K −$7.04/SF
NOI
$43.0K $8.61/SF
Area
Aurora, IL
Vacancy
4.80%
Lease Rate
$16.44 /SF/Yr
Expense Ratio
45.00%
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%
$860,800
Cap Rate 7%
$614,857
Cap Rate 9%
$478,222
Alternative Uses
Best Use
Office B
$1.05M
$922.5K – $1.23M
NOI $73,800 @ 7.0% cap · market cap 15.64%
Second Best
Mixed Use
$964.3K
$843.8K – $1.13M
NOI $67,500 @ 7.0% cap · market cap 14.30%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,200 @ 7.0% cap · market cap 21.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
606
Businesses Nearby
Explore this area
Business Placement
Demographics for 60505, IL
57,906
Population
18,681
Households
3.1
Avg Household Size
32
Median Age
13%
College-Educated
64%
High-School Grad
10.1 sq mi
ZIP Area
5,733
Density / Sq Mi
$70,306
Median Household Income
$33,912
Median Earnings
$1,230
Median Rent
$192,500
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?
Mixed-use property - Combines business-use areas, residential units, basement storage, and an attached garage.
Where is this mixed-use property located?
The property is located at 818 E New York Street Aurora, IL.
What is the asking price?
The asking price for this property is $472,000.
What are key features of this property?
This property features: More than 5,000 square feet of mixed‑use space; 2–3 business‑use spaces plus two apartments; Full basement provides additional storage
