Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1975 Melissa Ln Aurora, IL 60506

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime Medical Office Space Available

    Lot size:
    62,347 SF

    Property Features for 1975 Melissa Ln

    General Information

    Property type
    Medical Office Space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    62,347 SF
    Total Rate
    93520.5

    Spaces For Lease

    at 1975 Melissa Ln, Aurora, IL 60506 Contact us
    Unit AVailable Space

    $18 /Mo

    Size
    12,410 SF
    Contact us

    We can help!

    Listing Contact
    J.d. Dolan
    J.d. Dolan

    Listing Agency: Dolan & Murphy Inc Listing Agent: J.d. Dolan

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional medical office building, located at 1975 Melissa Ln in Aurora, Illinois, presents a unique investment opportunity. The property boasts a total of 62,347 square feet situated on a generous 4.24-acre lot. The building currently houses two established tenants: All Pets Wellness, occupying approximately 41,437 square feet, and Swim with Bill, leasing roughly 8,500 square feet. A significant opportunity exists with approximately 12,410 square feet of vacant medical office space ready for immediate occupancy. This space is ideal for expansion or a new medical practice seeking a prominent location. The property features ample parking with 214 spaces available for tenants and visitors. The building is located in Kane County, Illinois, with a convenient Aurora address and zip code 60506. The property's single-tenant structure offers streamlined management, while the existing tenants provide a stable income stream. The substantial vacant space presents significant potential for increased revenue and growth. This property is a rare find, combining established tenancy with significant expansion potential in a desirable location. The property's APN is 14-12-225-003. This is an excellent opportunity for investors seeking a strong return on investment in a thriving medical market.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    All Pets Wellness ... Kennel & Boarding Facility AMITA Health Center ... Medical Clinic Jill Luminais Physician Swim With Bill ... Swimming School

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Aurora
    County
    Kane
    State
    Illinois
    Longitude
    -88.3820473
    Latitude
    41.792973

    Nearby Similar for Lease

    • New
      Contact for pricing
      2,352 SF

      Downtown Aurora Commercial Space

      Renovated 2,000 sq ft retail/office space in downtown Aurora.
      26 N Broadway, Aurora, IL 60505
      View Details
    • Contact for pricing
      27,007 SF

      Accessible Aurora Office Space

      Convenient office location with utilities included in Aurora, Illinois.
      2 Hankes Rd, Aurora, IL 60506
      View Details
    • Contact for pricing
      31,363 SF

      Former Daycare Space in Aurora

      1,500 SF daycare space with fenced outdoor play area.
      3691 Darlene Ct, Aurora, IL 60504
      View Details
    • Contact for pricing

      Retail Space in Downtown Aurora

      First floor retail space in high-traffic downtown area.
      228 W Galena Blvd, Aurora, IL 60506
      View Details
    • Contact for pricing

      Aurora Retail/Office Space Available

      Vacant storefront suitable for retail, daycare, office, or studio.
      1054 S 5Th St, Aurora, IL 60505
      View Details
    • Contact for pricing

      Downtown Aurora Commercial Space Available

      High-traffic location ideal for office, retail, or event space.
      60 S Broadway Ave, Aurora, IL 60505
      View Details
    • Contact for pricing

      Retail Space in Aurora Historic District

      1,500 sq ft retail space in downtown Aurora.
      16 N Broadway, Aurora, IL 60505
      View Details
    • $21 SF/Yr

      Prime Retail Space in Aurora

      Exceptional retail opportunity in downtown Aurora along the Fox River.
      160 S River St, Aurora, IL 60506
      View Details
    • Contact for pricing

      Aurora Retail Space Near University

      1,400 SF retail space near Aurora University.
      1118 Prairie St, Aurora, IL 60506
      View Details
    • Contact for pricing
      1,540 SF

      Retail Space in Aurora, Illinois

      Retail space available in neighborhood convenience center with ample parking.
      3150 North Aurora Rd, Aurora, IL 60502
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Prime Medical Office Space Available
    Where is this medical office space located?
    The property is located at 1975 Melissa Ln Aurora, IL.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: 41,437 SF leased to All Pets Wellness.; 12,410 SF of vacant medical office space available for lease.; 8,500 SF leased month-to-month with long-term potential.
    (630) 801-8800 Call to check price and availability
    Request Owner's contact information
    1975 Melissa Ln Aurora, IL 60506
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1975 Melissa Ln
    Aurora, IL 60506
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    1975 Melissa Ln Aurora, IL 60506
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing J.d. Dolan
    J.d. Dolan
    Real Estate License ID: 471021830
    (630) 801-8800 (630) 272-2134
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!