Office Unit with Private
For Sale
$345,000
1700 Park Street #109, Naperville, IL 60563
Configured for professional operations with reception, meeting, and kitchenette areas.
Property Size2,050 SF
Days on Market116
Property Features for 1700 Park Street #109
General Information
Standard status
Active
Size
2,050 SF
Property subtype
Commercial
Zoning
OFFIC
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,896
Building Details
Building Size
2,050 SF
Year Built
2001
Stories
2
Units
23
Listing Agency:
Keller Williams Infinity
(630) 778-5800
Listed By:
Sairavi Suribhotla · License #475172825
(630) 778-5800
Source:
Midwestrealestate
Added: Apr 29
Changed: Aug 21
Last Checked: Aug 21 at 2:38PM
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 Keller Williams Infinity
Investment Insights
Based on property information with market context.
Located at 1700 Park Street #109 in Naperville, this office unit was built in 2001 and carries OFFIC zoning. The interior combines private offices with an open work area, a conference room, reception space, and a kitchenette. High ceilings, natural light, and premium finishes contribute to the functional workplace layout.
The property includes dedicated parking and access to major highways. Restaurants, shopping, and public transportation are also identified nearby, supporting convenient daily operations for occupants and visitors. The configuration can accommodate a range of professional office functions, including the medical, legal, and startup uses described for the property.
The property includes dedicated parking and access to major highways. Restaurants, shopping, and public transportation are also identified nearby, supporting convenient daily operations for occupants and visitors. The configuration can accommodate a range of professional office functions, including the medical, legal, and startup uses described for the property.
Key Highlights
- Private offices, conference room, reception area, and kitchenette
- Open layout with high ceilings and natural light
- Dedicated parking 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
$24,238
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
7.03%
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%
$484,760
$484.8K
Cap Rate 7%
$346,257
$346.3K
Cap Rate 9%
$269,311
$269.3K
Market Conditions
NOI Build-Up for 2,050 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
$42.8K $20.88/SF
− Vacancy
−$10.5K −$5.12/SF
EGI
$32.3K $15.76/SF
− OpEx
−$8.1K −$3.94/SF
NOI
$24.2K $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%
$484,760
Cap Rate 7%
$346,257
Cap Rate 9%
$269,311
Alternative Uses
Best Use
Office B
$346.3K
$303.0K – $404.0K
NOI $24,238 @ 7.0% cap · market cap 7.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$462.7K
$404.9K – $539.9K
NOI $32,391 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,473
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Office units - Configured for professional operations with reception, meeting, and kitchenette areas.
Where is this office units located?
The property is located at 1700 Park Street #109 Naperville, IL.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Private offices, conference room, reception area, and kitchenette; Open layout with high ceilings and natural light; Dedicated parking included
