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    105 Il-71 Newark, IL 60541

    Sponsored
    For Sale
    $1,995,000

    High-Cap Retail Center, Newark, IL

    Property size:
    9,520 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional Class A retail property, located at 105 IL-71 in Newark, Illinois (60541), presents a compelling investment opportunity. The 9,520 square-foot building, constructed in 2007, sits on a 78,137 square-foot lot and boasts 26 parking spaces. Currently operating as a single-tenant convenience store/shopping center/storefront, the property offers a strong 100% occupancy rate and a substantial Net Operating Income (NOI) of $142,800, translating to a 7.16% capitalization rate at the asking price of $1,995,000 ($209.56 per square foot). The property is zoned B-2 and features a triple net (NNN) lease. The current owner is open to either remaining as an operator for a new landlord or vacating the premises for an owner-operator. This turnkey property is ideally situated off Route 71, within walking distance of downtown Newark, offering excellent visibility and accessibility. This is a rare opportunity to acquire a high-performing retail asset in a thriving Illinois market. The property's single-tenant structure minimizes management complexities, while its strong financial performance and prime location ensure a secure and profitable investment. The property's parcel number is 0706402005.

    Property Features for 105 Il-71

    General Information

    Property type
    Lifestyle centers
    Square Feet
    9,520 SF
    Class
    A

    Building Details

    Year Built
    2007
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • Class A, 9,520 SF retail building on a 78,137 SF lot in Newark, IL (60541).
    • Built in 2007, with 26 parking spaces and 100% occupancy.
    • Strong NOI of $142,800, yielding a 7.16% cap rate at the $1,995,000 asking price ($209.56/SF).
    • Triple Net (NNN) lease; owner open to leaseback.
    • Excellent visibility and accessibility off Route 71, near downtown Newark; B‑2 zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Isalis Gift Shop Party City Party Store Skunk Funk Wholesaler Carl's Trading Co Hat Shop Bushka's Kitchen LLC Outdoor Clothing And Equipment Shop

    Suggested Use

    Restaurant Law Firm Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Gym & Fitness Pharmacy Department Store HVAC Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Kendall
    State
    Illinois
    Longitude
    -88.5851365
    Latitude
    41.5340418

    Nearby Comparable

    • $1,995,000
      9,520 SF

      Prime Newark Retail Investment

      High-Cap Rate Retail Space in Newark, IL
      105 Il-71, Newark, IL 60541
      View Details
    • $320,000
      0.69 Acres

      Mixed-Use Building in Downtown Newark

      Mixed-use property with retail space and two residential apartments.
      2-4 Front St, Newark, IL 60541
      View Details

    Nearby Similar for Sale

    • $320,000
      0.69 Acres

      Mixed-Use Building in Downtown Newark

      Mixed-use property with retail space and two residential apartments.
      2-4 Front St, Newark, IL 60541
      View Details
    • $1,995,000
      1.79 Acres

      Retail Space in Growing Newark

      Massive retail space in prime location with solid cap rate.
      105 Il-71, Newark, IL 60541
      View Details
    • $1,995,000
      9,520 SF

      Prime Newark Retail Investment

      High-Cap Rate Retail Space in Newark, IL
      105 Il-71, Newark, IL 60541
      View Details

    FAQs

    What type of property is this?
    Lifestyle center - High-Cap Retail Center, Newark, IL
    Where is this lifestyle center located?
    The property is located at 105 Il-71 Newark, IL.
    What is the asking price?
    The asking price for this property is $1,995,000.
    What are key features of this property?
    This property features: Class A, 9,520 SF retail building on a 78,137 SF lot in Newark, IL (60541).; Built in 2007, with 26 parking spaces and 100% occupancy.; Strong NOI of $142,800, yielding a 7.16% cap rate at the $1,995,000 asking price ($209.56/SF).
    Request Owner's contact information
    105 Il-71 Newark, IL 60541
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    Newark, IL 60541
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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
    105 Il-71 Newark, IL 60541
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