1962-1980 Naperville Rd Wheaton, IL 60189

Property Details for 1962-1980 Naperville Rd

Year built

2023

Lot size

1.21 lot acres

Property size

5,849 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a newly constructed, 5,849 square foot retail property in Wheaton, Illinois, boasting two strong national tenants: Chipotle and VCA Animal Hospital. Both tenants occupy the entire building under 10-year net leases, commencing June 16, 2023, and expiring March 31, 2034. The leases include significant 10% rent bumps every five years, ensuring consistent income growth throughout the lease term and any renewal options (Chipotle has 3 (5) year options, VCA has 2 (5) year options). The property sits on a 1.21-acre lot with 49 parking spaces and benefits from a prime location on a busy retail corridor in affluent DuPage County. The average household income within a one-mile radius is $172,244, supporting a strong customer base. The property's strategic location is further enhanced by its proximity to major shopping centers, including Town Square Wheaton, Danada Square West and East, and Rice Lake Square, attracting millions of annual visitors. High traffic counts on nearby Naperville Road, East Loop Road, and Route 56, along with the proximity to the Wheaton Metra Station, ensure excellent visibility and accessibility. The property offers a 6.00% cap rate and a Net Operating Income (NOI) of $255,862, making it an attractive investment with significant long-term potential. The property features one single-story building, built in 2023, with a total of 5,849 net rentable square feet. The asking price is $4,264,367, translating to a price per square foot of $729.08. The property's strong tenant mix, favorable lease terms, and prime location make it an ideal addition to any investment portfolio.

Location Insight

City

Wheaton

County

DuPage

State

Illinois

Longitude

-88.1025

Latitude

41.8345