Automotive Shop with
New
For Sale
$670,000
5031 W Belmont Avenue, Chicago, IL 60641
C-1 zoning supports automotive service and other business uses.
Property Size4,300 SF
Price / SF$155.81
Days on Market5
Property Features for 5031 W Belmont Avenue
General Information
Standard status
Active
Size
4,300 SF
Property subtype
COMMERCIAL
Zoning
C-1
Taxes and HOA fees
Annual Taxes
$14,267
Building Details
Building Size
4,300 SF
Listing Agency:
Windsor Real Estate Service INC
Listed By:
John Cartina · License #471009303
(630) 267-5047
Source:
Harkinsandassociates
Added: Sep 3
Changed: Sep 5
Last Checked: Sep 6 at 10:34AM
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 Windsor Real Estate Service INC
Investment Insights
Based on property information with market context.
This automotive repair property is configured for transmission and related vehicle service, with four automotive lifts and a compressor included in the sale. The improvements also provide rear parking for vehicles, customers, or operational needs.
Located at 5031 W Belmont Avenue in Chicago, the property carries C-1 zoning. That designation supports the existing automotive use and permits consideration of other business uses, providing flexibility for an owner-user or operator evaluating alternative commercial applications.
Located at 5031 W Belmont Avenue in Chicago, the property carries C-1 zoning. That designation supports the existing automotive use and permits consideration of other business uses, providing flexibility for an owner-user or operator evaluating alternative commercial applications.
Key Highlights
- Four automotive lifts included
- Compressor included with the property
- Rear parking area
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
$59,490
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
8.88%
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%
$1,189,800
$1.2M
Cap Rate 7%
$849,857
$849.9K
Cap Rate 9%
$661,000
$661.0K
Market Conditions
NOI Build-Up for 4,300 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
$92.9K $21.60/SF
− Vacancy
−$7.9K −$1.84/SF
EGI
$85.0K $19.76/SF
− OpEx
−$25.5K −$5.93/SF
NOI
$59.5K $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%
$1,189,800
Cap Rate 7%
$849,857
Cap Rate 9%
$661,000
Alternative Uses
Best Use
Retail
$849.9K
$743.6K – $991.5K
NOI $59,490 @ 7.0% cap · market cap 8.88%
Second Best
Industrial
$385.2K
$337.1K – $449.4K
NOI $26,965 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$2.03M
$1.77M – $2.37M
NOI $141,921 @ 7.0% cap · market cap 21.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,582
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60641, IL
69,354
Population
27,377
Households
2.5
Avg Household Size
37
Median Age
36%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
17,339
Density / Sq Mi
$81,649
Median Household Income
$46,376
Median Earnings
$1,249
Median Rent
$373,200
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Velasquez Mufflers Brakes — 2600 N Laramie Ave, Chicago, IL 60639
- Camacho's Tires Shop — 2634 N Laramie Ave, Chicago, IL 60639
- ATM (Diversey Central BP) — 5610 W Diversey Ave, Chicago, IL 60639
- Car-X Tire & Auto — 2737 N Central Ave, Chicago, IL 60639
- Mavis Tires & Brakes — 2819 N Central Ave, Chicago, IL 60634
Frequently Asked Questions
What type of property is this?
Auto shop - C-1 zoning supports automotive service and other business uses.
Where is this auto shop located?
The property is located at 5031 W Belmont Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: Four automotive lifts included; Compressor included with the property; Rear parking area
