Freestanding Coffee Shop
New
For Sale
$1,115,000
5237 Golf Road, Skokie, IL 60076
Established café business and real estate offered together, with office space above and a detached garage for storage.
Property Size2,700 SF
Price / SF$412.96
Days on Market4
Property Features for 5237 Golf Road
General Information
Standard status
Active
Size
2,700 SF
Property subtype
COMMERCIAL
Additional Details
Business Included
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$12,374
Building Details
Building Size
2,700 SF
Buildings
1
Listing Agency:
Barr Agency, Inc
Listed By:
Aleksandr Katsman
(847) 564-8811
Source:
Dawnmckennagroup
Added: Sep 12
Changed: Sep 14
Last Checked: Sep 14 at 2:42PM
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 Barr Agency, Inc
Investment Insights
Based on property information with market context.
This 2,700-square-foot freestanding property includes an established, fully operational café along with the underlying real estate. The sale also includes the existing business, creating a combined operating and property offering. Office space on the second floor adds functional flexibility, with possible residential conversion subject to applicable approvals.
The property is located at 5237 Golf Road in Skokie, near Old Orchard Mall and within an area containing both commercial and residential development. Major expressway access, on-site parking, and a garage with additional storage support day-to-day operations. The building’s configuration includes the café, upper-level office area, and supporting storage space.
The property is located at 5237 Golf Road in Skokie, near Old Orchard Mall and within an area containing both commercial and residential development. Major expressway access, on-site parking, and a garage with additional storage support day-to-day operations. The building’s configuration includes the café, upper-level office area, and supporting storage space.
Key Highlights
- 2,700‑square‑foot freestanding building
- Established, fully operational café business included with the real estate
- Second‑floor office space with potential residential conversion subject to approvals
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
$45,198
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
4.05%
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%
$903,960
$904.0K
Cap Rate 7%
$645,686
$645.7K
Cap Rate 9%
$502,200
$502.2K
Market Conditions
NOI Build-Up for 2,700 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
$64.8K $24.00/SF
− Vacancy
−$4.5K −$1.68/SF
EGI
$60.3K $22.32/SF
− OpEx
−$15.1K −$5.58/SF
NOI
$45.2K $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%
$903,960
Cap Rate 7%
$645,686
Cap Rate 9%
$502,200
Alternative Uses
Best Use
Specialty Retail
$645.7K
$565.0K – $753.3K
NOI $45,198 @ 7.0% cap · market cap 4.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$932.2K
$815.7K – $1.09M
NOI $65,253 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,981
Businesses Nearby
20k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 50%
Hotels & Casinos 42%
Shops & Services 8%
Shake Shack
Dining
9,996 visits/mo
0.5 miles
Hampton Inn & Suites
Hotels & Casinos
6,606 visits/mo
0.5 miles
Extended Stay America
Hotels & Casinos
1,737 visits/mo
0.5 miles
Jiffy Lube
Shops & Services
1,503 visits/mo
0.0 miles
Demographics for 60076, IL
34,295
Population
11,908
Households
2.9
Avg Household Size
42
Median Age
52%
College-Educated
91%
High-School Grad
5.1 sq mi
ZIP Area
6,725
Density / Sq Mi
$103,870
Median Household Income
$50,336
Median Earnings
$1,576
Median Rent
$381,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- TeaRex Bubble Tea Cafe — 5237 Golf Rd, Skokie, IL 60077
- Nordstrom Ebar Artisan Coffee — 4937 Old Orchard Shopping Ctr, Skokie, IL 60077
- PomPom Bubble Tea — 4999 Old Orchard Shopping Ctr, Skokie, IL 60077
- Nespresso Boutique Old Orchard Center — 4999 Old Orchard Shopping Ctr Space N34, Skokie, IL 60077
- Starbucks — 4999 Old Orchard Shop Center East Ring Rd, Skokie, IL 60077
Frequently Asked Questions
What type of property is this?
Coffee shop - Established café business and real estate offered together, with office space above and a detached garage for storage.
Where is this coffee shop located?
The property is located at 5237 Golf Road Skokie, IL.
What is the asking price?
The asking price for this property is $1,115,000.
What are key features of this property?
This property features: 2,700‑square‑foot freestanding building; Established, fully operational café business included with the real estate; Second‑floor office space with potential residential conversion subject to approvals
