Two-Storefront Retail
For Sale
$399,900
329-31 N Addison Road, Addison, IL 60101
Fully occupied retail property along a busy corridor with parking and nearby restaurants, shops, and community amenities.
Property Size2,400 SF
Price / SF$166.63
Days on Market141
Property Features for 329-31 N Addison Road
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Commercial
Zoning
RTAIL
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$6,989
Building Details
Building Size
2,400 SF
Year Built
1940
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
T.K. Realty Inc
(630) 543-7000
Listed By:
Oralia Herrera · License #471000493
(630) 543-7000
Source:
Allinonerealestateco
Added: Mar 27
Changed: Aug 13
Last Checked: Aug 13 at 6:54AM
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 T.K. Realty Inc
Investment Insights
Based on property information with market context.
This 2,400-square-foot retail property contains two storefronts and was built in 1940. The building is currently fully occupied and carries RTAIL zoning, offering an established commercial configuration for retail operations.
Located in downtown Addison at 329-31 N Addison Road, the property sits along a busy corridor with high foot traffic and ample parking. Major highways are only minutes away, while restaurants, shops, and community amenities are nearby. The location provides convenient access for customers and businesses in the surrounding area.
Located in downtown Addison at 329-31 N Addison Road, the property sits along a busy corridor with high foot traffic and ample parking. Major highways are only minutes away, while restaurants, shops, and community amenities are nearby. The location provides convenient access for customers and businesses in the surrounding area.
Key Highlights
- Two storefronts within a 2,400‑square‑foot retail property
- Currently fully occupied
- Built in 1940
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
$33,312
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
8.33%
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%
$666,240
$666.2K
Cap Rate 7%
$475,886
$475.9K
Cap Rate 9%
$370,133
$370.1K
Market Conditions
NOI Build-Up for 2,400 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
$51.8K $21.60/SF
− Vacancy
−$4.3K −$1.77/SF
EGI
$47.6K $19.83/SF
− OpEx
−$14.3K −$5.95/SF
NOI
$33.3K $13.88/SF
Area
DuPage County, IL
Vacancy
8.20%
Lease Rate
$21.60 /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%
$666,240
Cap Rate 7%
$475,886
Cap Rate 9%
$370,133
Alternative Uses
Best Use
Retail
$475.9K
$416.4K – $555.2K
NOI $33,312 @ 7.0% cap · market cap 8.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$828.6K
$725.0K – $966.7K
NOI $58,003 @ 7.0% cap · market cap 14.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
788
Businesses Nearby
132k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 32%
Groceries 29%
Dining 27%
Home Improvements & Furnishings 12%
Jewel-Osco
Groceries
38,118 visits/mo
0.3 miles
Portillo's
Dining
26,061 visits/mo
0.2 miles
Dollar Tree
Shops & Services
17,934 visits/mo
0.4 miles
Len's Ace Hardware
Home Improvements & Furnishings
15,850 visits/mo
0.1 miles
BP
Shops & Services
9,111 visits/mo
0.1 miles
Demographics for 60101, IL
37,644
Population
14,145
Households
2.7
Avg Household Size
38
Median Age
22%
College-Educated
77%
High-School Grad
11.4 sq mi
ZIP Area
3,302
Density / Sq Mi
$87,860
Median Household Income
$42,007
Median Earnings
$1,236
Median Rent
$315,300
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?
Storefront property - Fully occupied retail property along a busy corridor with parking and nearby restaurants, shops, and community amenities.
Where is this storefront property located?
The property is located at 329-31 N Addison Road Addison, IL.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two storefronts within a 2,400‑square‑foot retail property; Currently fully occupied; Built in 1940
