Freestanding Drive-Through
New
For Sale
$1,300,000
5159 159th Street, Oak Forest, IL 60452
Freestanding building with a drive-through and flexible retail or restaurant use.
Property Size4,785 SF
Price / SF$271.68
Days on Market6
Property Features for 5159 159th Street
General Information
Standard status
Active
Size
4,785 SF
Property subtype
Commercial
Additional Details
Drive-Thru
Yes
Taxes and HOA fees
Annual Taxes
$33,966
Amenities
Central air
Central Air Cooling
Building Details
Year Built
2002
Buildings
1
Tenancy
Multi
Listing Agency:
SK PROPERTIES GROUP, LLC
(773) 493-7000
Listed By:
ZOHAIB SARVANA
Source:
Corcoran
Added: Aug 11
Changed: Aug 14
Last Checked: Aug 16 at 5:29AM
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 SK PROPERTIES GROUP, LLC
Investment Insights
Based on property information with market context.
This freestanding commercial building contains 4,785 square feet and is configured for drive-through restaurant operations. The property includes two separately identified units: Unit 1 measures 1,222 square feet, while Unit 2 provides 3,563 square feet. The layout also supports retail or restaurant occupancy, offering flexibility for different commercial formats.
Constructed in 2002, the building previously operated as a Dunkin' Donuts. It is located at 5159 159th Street in Oak Forest, Illinois, providing an established building platform for a new owner or occupant.
Constructed in 2002, the building previously operated as a Dunkin' Donuts. It is located at 5159 159th Street in Oak Forest, Illinois, providing an established building platform for a new owner or occupant.
Key Highlights
- 4,785 SF freestanding building with drive‑through
- Unit 1: 1,222 SF; Unit 2: 3,563 SF
- Flexible retail and restaurant use
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
$80,101
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
6.16%
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%
$1,602,020
$1.6M
Cap Rate 7%
$1,144,300
$1.1M
Cap Rate 9%
$890,011
$890.0K
Market Conditions
NOI Build-Up for 4,785 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
$114.8K $24.00/SF
− Vacancy
−$8.0K −$1.68/SF
EGI
$106.8K $22.32/SF
− OpEx
−$26.7K −$5.58/SF
NOI
$80.1K $16.74/SF
Area
Cook County, IL
Vacancy
7.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,602,020
Cap Rate 7%
$1,144,300
Cap Rate 9%
$890,011
Alternative Uses
Best Use
Specialty Retail
$1.14M
$1.00M – $1.34M
NOI $80,101 @ 7.0% cap · market cap 6.16%
Second Best
Retail
$948.8K
$830.2K – $1.11M
NOI $66,417 @ 7.0% cap · market cap 5.11%
Theoretical Best
Office A
$1.65M
$1.45M – $1.93M
NOI $115,643 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
583
Businesses Nearby
100k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 69%
Shops & Services 27%
Electronics 2%
Beauty & Spa 2%
McDonald's
Dining
26,510 visits/mo
0.3 miles
Culver's
Dining
16,531 visits/mo
0.3 miles
Dunkin' Donuts
Dining
13,757 visits/mo
0.1 miles
BP
Shops & Services
8,065 visits/mo
0.5 miles
The Original Pancake House
Dining
7,950 visits/mo
0.2 miles
Demographics for 60452, IL
27,363
Population
10,557
Households
2.6
Avg Household Size
40
Median Age
30%
College-Educated
92%
High-School Grad
8.6 sq mi
ZIP Area
3,182
Density / Sq Mi
$89,167
Median Household Income
$47,519
Median Earnings
$1,287
Median Rent
$249,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Freestanding building with a drive-through and flexible retail or restaurant use.
Where is this drive through restaurant located?
The property is located at 5159 159th Street Oak Forest, IL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 4,785 SF freestanding building with drive‑through; Unit 1: 1,222 SF; Unit 2: 3,563 SF; Flexible retail and restaurant use
