Built-Out Coffee Shop
For Sale
Contact for pricing
2949 N BROADWAY ST, Chicago, IL 60657
Existing beverage and dessert café with equipment, leasehold improvements, and self-ordering technology in place.
Property Size1,000 SF
Price / SF$169
Days on Market64
Property Features for 2949 N BROADWAY ST
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Business for Sale
Zoning
B4-2
Lease Type
NNN
Additional Details
Furnished
Yes
Business Included
Yes
Equipment Included
Yes
Building Details
Year Built
1908
Stories
3
Units
12
Tenancy
Single
Listing Agency:
Century 21 Realty Associate
(312) 428-9123
Listed By:
Ivan Man · License #475145659
Source:
Crexi
Added: Jun 29
Changed: Aug 30
Last Checked: Aug 30 at 8:29PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Century 21 Realty Associate
Investment Insights
Based on property information with market context.
This 1,000-square-foot coffee shop asset includes a built-out beverage and dessert café with furniture, fixtures, equipment, and leasehold improvements. The interior incorporates contemporary décor, self-ordering technology, and an operating layout designed around tea beverages, fruit drinks, desserts, and grab-and-go items. Training is available to qualified buyers.
The property is located at 2949 N Broadway St in Chicago’s Lakeview area, within a retail corridor surrounded by restaurants, entertainment venues, shops, fitness centers, and residential buildings. The building dates to 1908 and carries B4-2 zoning. The included business assets support continuation of the existing beverage-and-dessert concept or a similar use, subject to landlord approval.
The property is located at 2949 N Broadway St in Chicago’s Lakeview area, within a retail corridor surrounded by restaurants, entertainment venues, shops, fitness centers, and residential buildings. The building dates to 1908 and carries B4-2 zoning. The included business assets support continuation of the existing beverage-and-dessert concept or a similar use, subject to landlord approval.
Key Highlights
- 1,000 SF built‑out beverage and dessert café
- Furniture, fixtures, equipment, and leasehold improvements included
- Self‑ordering technology and contemporary interior décor
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,835
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$276,700
$276.7K
Cap Rate 7%
$197,643
$197.6K
Cap Rate 9%
$153,722
$153.7K
Market Conditions
NOI Build-Up for 1,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$21.6K $21.60/SF
− Vacancy
−$1.8K −$1.84/SF
EGI
$19.8K $19.76/SF
− OpEx
−$5.9K −$5.93/SF
NOI
$13.8K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$276,700
Cap Rate 7%
$197,643
Cap Rate 9%
$153,722
Alternative Uses
Best Use
Specialty Retail
$265.9K
$232.7K – $310.2K
NOI $18,612 @ 7.0% cap · market cap 11.01%
Second Best
Retail
$197.6K
$172.9K – $230.6K
NOI $13,835 @ 7.0% cap · market cap 8.19%
Theoretical Best
Office A
$471.5K
$412.6K – $550.1K
NOI $33,005 @ 7.0% cap · market cap 19.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
7,632
Businesses Nearby
357k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 26%
Shops & Services 25%
Dining 24%
Superstores 9%
Trader Joe's
Groceries
43,874 visits/mo
0.3 miles
Target
Superstores
33,595 visits/mo
0.4 miles
The Home Depot
Home Improvements & Furnishings
30,960 visits/mo
0.5 miles
McDonald's
Dining
29,548 visits/mo
0.4 miles
Binny's Beverage Depot
Groceries
26,649 visits/mo
0.3 miles
Demographics for 60657, IL
72,316
Population
42,246
Households
1.7
Avg Household Size
32
Median Age
87%
College-Educated
99%
High-School Grad
2.2 sq mi
ZIP Area
32,871
Density / Sq Mi
$109,025
Median Household Income
$77,731
Median Earnings
$1,839
Median Rent
$534,500
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Similar Off Market Nearby
- Printer's Row Coffee Co. — 2482 N Lincoln Ave, Chicago, IL 60614
- Verzênay Chicago — 2507 N Lincoln Ave, Chicago, IL 60614
- Bourgeois Pig Cafe — 738 W Fullerton Ave, Chicago, IL 60614
- Happy Lemon — 818 W Fullerton Ave, Chicago, IL 60614
- The High Crowd Cafe — 2410 N Lincoln Ave, Chicago, IL 60614
Frequently Asked Questions
What type of property is this?
Coffee shop - Existing beverage and dessert café with equipment, leasehold improvements, and self-ordering technology in place.
Where is this coffee shop located?
The property is located at 2949 N BROADWAY ST Chicago, IL.
What is the asking price?
The asking price for this property is $169,000.
What are key features of this property?
This property features: 1,000 SF built‑out beverage and dessert café; Furniture, fixtures, equipment, and leasehold improvements included; Self‑ordering technology and contemporary interior décor
