Description

1700 Orchard Gateway Boulevard is a 35,316 SF retail property for sale in North Aurora, IL. Occupied by Pickleball Kingdom, the property pairs a single-tenant operating story with an 8.50% in-place cap rate.

Built in 2006, the property houses a Pickleball Kingdom facility with 10 indoor courts, coaching and clinics, leagues, event space, and a pro shop. The tenant operates under an NNN lease with 10% rent increases every 5 years and three, 5-Year options. Multiple personal guarantors with net worth in excess of $60M+ support the lease. For an investor, the court operation gives the building a defined tenant identity, while the lease terms establish how rent changes over the holding period.

The property sits within North Aurora Towne Center, a 430,000+ SF power center shadow anchored by Target and also home to Michaels, JCPenney and Petco. The center records 1.9M annual visits and 42 minutes of average dwell time, placing the tenant among established retail destinations. Interstate 88 provides visibility, with 81,535 AADT along the roadway. Downtown Aurora is 4.9 miles from the property, and downtown Chicago is 43 miles away.

The asking price is $5,713,000, or $161.77 PSF, with $485,595 in-place NOI and an 8.50% in-place cap rate. Those figures give buyers a direct basis for reviewing the income against the acquisition price, while the scheduled rent increases define the lease’s progression. North Aurora Towne Center’s draw and the tenant’s established use complete the investment story. Review the Offering Materials for the next step in examining the property and its lease.