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    1313 Lake St Aurora, IL 60506

    Sponsored
    For Sale
    $1,953,460

    High-Yield Auto Shop, Dual Tenants

    Property size:
    10,234 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a fee-simple, 10,234 square foot retail property located at 1313 N Lake St, Aurora, IL 60506. The property, built in 1986 and renovated in 2004, features a Class C building on a 1.17-acre lot with B-1 zoning. Currently 100% occupied by two tenants, Gerber Collision & Glass and Classic Towing, the property generates a substantial net operating income (NOI) of $166,044, representing an 8.50% cap rate. The asking price is $1,953,460, or $190.88 per square foot. Gerber Collision & Glass, a long-term tenant since 2006, has a net lease (NN+) in place until December 31, 2025, with four five-year lease options. Their lease includes a 10% rent increase every five years. Classic Towing also enjoys a long-term presence at the location. The property benefits from its strategic location in a high-traffic area of Aurora, Illinois, near numerous national credit tenants and a population of approximately 200,000 within a five-mile radius, boasting an average household income of $100,000. This presents a strong opportunity for investors seeking a stable, high-yield investment with significant upside potential. The property is suitable for a 1031 exchange.

    Property Features for 1313 Lake St

    General Information

    Property type
    Automotive properties
    Square Feet
    10,234 SF
    Class
    C
    Lot Size
    50,965 SF

    Building Details

    Year Built/Renovated
    1986/2004
    Stories
    1

    HighLights

    • Fee‑simple, 10,234 SF retail property in Aurora, IL.
    • Class C building on a 1.17‑acre lot with B‑1 zoning, built in 1986, renovated in 2004.
    • 100% occupied by Gerber Collision & Glass (NN+ lease until 12/31/2025 with options) and Classic Towing.
    • $1,953,460 asking price ($190.88/SF), generating $166,044 NOI (8.50% cap rate).
    • High‑traffic location near national credit tenants; strong demographics (200,000 population within 5 miles, $100,000 avg. household income).
    • Suitable for 1031 exchange.
    Property Profile Location Intelligence

    Current Use by Public Records

    Gerber Collision & Glass Auto Body Shop Classic Towing (Aurora) Towing Service SCR Towing & Recovery ... Towing Service

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Aurora
    County
    Kane
    State
    Illinois
    Longitude
    -88.3192766
    Latitude
    41.7861596

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    FAQs

    What type of property is this?
    Automotive property - High-Yield Auto Shop, Dual Tenants
    Where is this automotive property located?
    The property is located at 1313 Lake St Aurora, IL.
    What is the asking price?
    The asking price for this property is $1,953,460.
    What are key features of this property?
    This property features: Fee-simple, 10,234 SF retail property in Aurora, IL.; Class C building on a 1.17-acre lot with B-1 zoning, built in 1986, renovated in 2004.; 100% occupied by Gerber Collision & Glass (NN+ lease until 12/31/2025 with options) and Classic Towing.
    Request Owner's contact information
    1313 Lake St Aurora, IL 60506
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    Aurora, IL 60506
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1313 Lake St Aurora, IL 60506
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