10 River StBatavia, IL 60510

Property Details for 10 River St

Property size (Sq ft)

6,958 SF

Property type

Retail properties

Property subtype

Bars

Description

This exceptional mixed-use property in downtown Batavia, IL, presents a compelling investment opportunity. The 6,958 square foot, three-story building boasts a prime location on North River Street, featuring a blend of residential and commercial space. The property includes four residential apartments (three two-bedroom units and one one-bedroom unit), and a ground-floor storefront currently operating as a bar with a beer garden and patio seating. The building underwent significant renovations in 2020, with over one-third of the structure being completely rebuilt. Improvements include a new roof, windows, furnaces, and most AC units (completed between 2020 and 2024). Currently operating at 100% occupancy, the property generates a strong net operating income (NOI) of $135,000, with a pro-forma NOI of $150,000. The asking price is $1,875,000, representing a 7.20% cap rate and a pro-forma cap rate of 8.00%. The property is zoned B2 and features a five-year lease in place, with a 5% annual rent bump. This stabilized, value-add investment offers significant potential for future growth and appreciation, making it an ideal addition to any portfolio. The building's historical limestone exterior and its central location within the vibrant downtown Batavia area ensure its enduring appeal and long-term value. This is a rare opportunity to acquire a high-performing mixed-use property in a thriving Illinois market.

Location Insight

City

Batavia

County

Kane

State

Illinois

Latitude

41.8505

Longitude

-88.306

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