Multi-Unit Restaurant
New
For Sale
$550,000
7-11 N Elmwood Drive N, Aurora, IL 60506
A restaurant property with a separate leased unit, kitchen equipment, and on-site parking.
Property Size3,072 SF
Price / SF$179.04
Days on Market3
Property Features for 7-11 N Elmwood Drive N
General Information
Standard status
Active
Size
3,072 SF
Total Parking Spaces
11
Property subtype
Commercial
Zoning
COMMR
Site & Location
Neighborhood
Blackhawk Neighbors
Restaurant
Grease Trap
Yes
Equipment Included
Yes
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$6,912
Building Details
Building Size
3,072 SF
Year Built
1964
Buildings
1
Stories
1
Units
2
Construction
brick
Tenancy
Multi
Listing Agency:
Keller Williams Innovate
Listed By:
Ray Garcia · License #475154811
(630) 423-8223
Source:
Fishmangroup
Added: Oct 22
Changed: Oct 23
Last Checked: Oct 23 at 5:39PM
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 Innovate
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Investment Insights
Based on property information with market context.
The 3,072-square-foot brick restaurant property, built in 1964, is arranged with a primary restaurant space and a second unit leased to an ice cream shop. Most existing kitchen equipment is included. Improvements also include a grease trap, dry storage, walk-in coolers, freezer and cooler units, prep tables, an oven, scullery sinks, and an overhead delivery door.
At 7-11 N Elmwood Drive N in Aurora, the property has 11 dedicated off-street parking spaces. West Aurora High School and Aurora University are described as a few blocks away. The zoning designation is COMMR.
At 7-11 N Elmwood Drive N in Aurora, the property has 11 dedicated off-street parking spaces. West Aurora High School and Aurora University are described as a few blocks away. The zoning designation is COMMR.
Key Highlights
- 3,072‑square‑foot brick building constructed in 1964
- Primary restaurant area plus a second unit leased to an ice cream shop
- Most existing kitchen equipment included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,984
Cap Rate
7.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$779,680
$779.7K
Cap Rate 7%
$556,914
$556.9K
Cap Rate 9%
$433,156
$433.2K
Market Conditions
NOI Build-Up for 3,072 SF
Gross rent
$55.3K $18.00/SF
− Vacancy
−$3.3K −$1.08/SF
EGI
$52.0K $16.92/SF
− OpEx
−$13.0K −$4.23/SF
NOI
$39.0K $12.69/SF
Area
Aurora, IL
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$779,680
Cap Rate 7%
$556,914
Cap Rate 9%
$433,156
Alternative Uses
Best Use
Specialty Retail
$556.9K
$487.3K – $649.7K
NOI $38,984 @ 7.0% cap · market cap 7.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$879.5K
$769.5K – $1.03M
NOI $61,563 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
536
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60506, IL
52,011
Population
18,204
Households
2.9
Avg Household Size
36
Median Age
29%
College-Educated
84%
High-School Grad
21.2 sq mi
ZIP Area
2,453
Density / Sq Mi
$76,105
Median Household Income
$38,341
Median Earnings
$1,305
Median Rent
$246,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - A restaurant property with a separate leased unit, kitchen equipment, and on-site parking.
Where is this conventional restaurant located?
The property is located at 7-11 N Elmwood Drive N Aurora, IL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 3,072‑square‑foot brick building constructed in 1964; Primary restaurant area plus a second unit leased to an ice cream shop; Most existing kitchen equipment included
