Retail Space in Irving
4233 N Kedzie Ave, Chicago, IL 60618
Retail space for sale in newer construction Irving Park building.
Property size:
2,020 SFPrice / SF:
$197/SF- Added:
- Oct 16, 2024
- Days on Market:
- 584
- Last Refresh:
- Jan 20 at 8:49 am
Property Features for 4233 N Kedzie Ave
General Information
- Standard status
- Active
- Size
- 2,020 SF
Listing agent Paul Tsakiris License #471005153 (773) 355-4780
Listing office First Western Properties (773) 355-4780
Listing date Oct 16, 2024
Source Exprealty
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 First Western Properties
HighLights
- Newer construction building offers modern appeal.
- Located directly across from AutoZone and Cermak Produce, providing excellent visibility.
- Total of 2,020sf of retail space available, split into two spaces: 806sf and 1,214sf.
- Two spaces available, choose between 806sf and 1,214sf to fit your needs.
- Suitable for office or retail use, offering flexibility for various business types.
- Includes one washroom and utility room for convenience.
Overview
This property offers retail space in a newer construction building located in Irving Park. The available space includes two units, one measuring 806 square feet and another at 1,214 square feet, totaling 2,020 square feet. The layout features a large, open retail floor plan, complemented by one washroom and a utility room. The property is situated directly across from an AutoZone and a Cermak Produce.
Financial Insights
Value Estimation Calculated for Retail
Conservative
$315.7K
NOI $28,412 @ 9.00% cap · cautious / downside scenario
Moderate
$405.9K
NOI $28,412 @ 7.00% cap · market / base-case scenario
Aggressive
$568.2K
NOI $28,412 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.4k | $21.96 |
| − Vacancy | −$3.8k | −$1.87 |
| EGI | $40.6k | $20.09 |
| − OpEx | −$12.2k | −$6.03 |
| NOI | $28.4k | $14.07 |
2,020 SF · lease $21.96/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Retail
$405.9K
$355.2K – $473.5K
NOI $28,412 @ 7.0% cap · market cap 7.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$882.6K
$772.3K – $1.03M
NOI $61,781 @ 7.0% cap · market cap 15.48%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
DolEx Dollar Express
Bank
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.7079
- Latitude
- 41.9586
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - Retail space for sale in newer construction Irving Park building.
Where is this retail space located?
The property is located at 4233 N Kedzie Ave Chicago, IL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Newer construction building offers modern appeal.; Located directly across from AutoZone and Cermak Produce, providing excellent visibility.; Total of 2,020sf of retail space available, split into two spaces: 806sf and 1,214sf.
