Automotive Property with Large
For Sale
$2,000,000
1530 E New York Street, Aurora, IL 60505
Commercially zoned facility with extensive parking and a substantial shop area for automotive-related operations.
Property Size14,931 SF
Lot Size6.88 Acres
Price / SF$133.33
Days on Market509
Property Features for 1530 E New York Street
General Information
Standard status
Active
Size
14,931 SF
Lot size
6.88 Acres
Property subtype
Commercial
Zoning
COMMR
Taxes and HOA fees
Annual Taxes
$31,752
Building Details
Building Size
14,931 SF
Year Built
2005
Buildings
1
Stories
1
Listing Agency:
The Wallace Real Estate Group, INC.
(708) 941-7000
Listed By:
Gregory Wallace
(708) 941-7000
Source:
Birdrealtysells
Added: Mar 21, 2025
Changed: Aug 10
Last Checked: Aug 10 at 4:52AM
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 The Wallace Real Estate Group, INC.
Investment Insights
Based on property information with market context.
This automotive property includes an approximately 15,000-square-foot building on about 6.88 acres. The improvements include a large shop area and have been used for automotive sales, providing an established configuration for continued automotive-related use. The building was constructed in 2005 and is described as being in outstanding condition.
Located at 1530 E New York Street in Aurora, Illinois, the property includes an extensive parking area and is designated COMMR. The combination of acreage, building scale, parking, and shop space creates a substantial commercial facility with multiple functional areas for business operations.
Located at 1530 E New York Street in Aurora, Illinois, the property includes an extensive parking area and is designated COMMR. The combination of acreage, building scale, parking, and shop space creates a substantial commercial facility with multiple functional areas for business operations.
Key Highlights
- Approximately 15,000 Sq. Ft. building
- About 6.88 acres of property
- Large shop area included
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
$181,213
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
9.06%
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%
$3,624,260
$3.6M
Cap Rate 7%
$2,588,757
$2.6M
Cap Rate 9%
$2,013,478
$2.0M
Market Conditions
NOI Build-Up for 15,000 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
$275.4K $18.36/SF
− Vacancy
−$16.5K −$1.10/SF
EGI
$258.9K $17.26/SF
− OpEx
−$77.7K −$5.18/SF
NOI
$181.2K $12.08/SF
Area
Aurora, IL
Vacancy
6.00%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
30.00%
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%
$3,624,260
Cap Rate 7%
$2,588,757
Cap Rate 9%
$2,013,478
Alternative Uses
Best Use
Industrial
$2.59M
$2.27M – $3.02M
NOI $181,213 @ 7.0% cap · market cap 9.06%
Second Best
Retail
$2.08M
$1.82M – $2.43M
NOI $145,688 @ 7.0% cap · market cap 7.28%
Theoretical Best
Office A
$4.29M
$3.76M – $5.01M
NOI $300,600 @ 7.0% cap · market cap 15.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,552
Businesses Nearby
63k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 31%
Hotels & Casinos 8%
Electronics 6%
McDonald's
Dining
29,724 visits/mo
0.5 miles
BP
Shops & Services
7,580 visits/mo
0.1 miles
Family Dollar
Shops & Services
6,146 visits/mo
0.1 miles
Holiday Inn Express & Suites Aurora - Naperville
Hotels & Casinos
5,094 visits/mo
0.3 miles
SUBWAY
Dining
5,002 visits/mo
0.4 miles
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 Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Automotive property - Commercially zoned facility with extensive parking and a substantial shop area for automotive-related operations.
Where is this automotive property located?
The property is located at 1530 E New York Street Aurora, IL.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Approximately 15,000 Sq. Ft. building; About 6.88 acres of property; Large shop area included
