Net-Leased Life Sciences
For Sale
Contact for pricing
1841 Centre Point Circle, Naperville, IL 60563
Single-tenant net-leased lab is fully leased with 15 years remaining and 3% annual rent increases.
Property Size34,370 SF
Price / SF$224.03
Days on Market51
Property Features for 1841 Centre Point Circle
General Information
Standard status
Active
Size
34,370 SF
Total Parking Spaces
106
Property subtype
Office, Industrial
Zoning
B3; ORI
Occupancy
100%
Lease Type
Net
Investment Type
Net Lease
Building Details
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Greenstone Partners
Listed By:
Jason St. John · License #IL 475142612
Source:
Crexi
Added: Jul 13
Changed: Aug 21
Last Checked: Aug 31 at 10:30PM
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 Greenstone Partners
Investment Insights
Based on property information with market context.
A single-tenant, net-leased life sciences laboratory offering 100% fee-simple ownership, currently fully leased to CellCarta Biosciences. The property has 15 years of remaining lease term with 3% annual rent increases. More than $2.6 million has recently been invested to support the tenant’s highly specialized lab environment.
Located in Naperville, Illinois, the asset benefits from a DuPage County setting. The surrounding area is described as supported by strong household economics, including a 1-mile average household income of $150,000 and a 1-mile median home value of $497,000. The property is also positioned within the rapidly expanding life sciences sector.
Located in Naperville, Illinois, the asset benefits from a DuPage County setting. The surrounding area is described as supported by strong household economics, including a 1-mile average household income of $150,000 and a 1-mile median home value of $497,000. The property is also positioned within the rapidly expanding life sciences sector.
Key Highlights
- 34,370 SF single‑tenant net‑leased life sciences laboratory in Naperville, IL
- Property is 100% fee‑simple and fully leased to CellCarta Biosciences (global contract research organization)
- 15 years of remaining lease term with 3% annual rent increases
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
$406,367
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
5.28%
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%
$8,127,340
$8.1M
Cap Rate 7%
$5,805,243
$5.8M
Cap Rate 9%
$4,515,189
$4.5M
Market Conditions
NOI Build-Up for 34,370 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
$717.6K $20.88/SF
− Vacancy
−$175.8K −$5.12/SF
EGI
$541.8K $15.76/SF
− OpEx
−$135.5K −$3.94/SF
NOI
$406.4K $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%
$8,127,340
Cap Rate 7%
$5,805,243
Cap Rate 9%
$4,515,189
Alternative Uses
Best Use
Office B
$5.81M
$5.08M – $6.77M
NOI $406,367 @ 7.0% cap · market cap 5.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.76M
$6.79M – $9.05M
NOI $543,068 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,182
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 building - Single-tenant net-leased lab is fully leased with 15 years remaining and 3% annual rent increases.
Where is this office building located?
The property is located at 1841 Centre Point Circle Naperville, IL.
What is the asking price?
The asking price for this property is $7,700,000.
What are key features of this property?
This property features: 34,370 SF single‑tenant net‑leased life sciences laboratory in Naperville, IL; Property is 100% fee‑simple and fully leased to CellCarta Biosciences (global contract research organization); 15 years of remaining lease term with 3% annual rent increases
