Car Wash
New
For Sale
$565,000
5940 S Ashland Avenue, Chicago, IL 60636
The property is designated COMMR zoning.
Property Size5,644 SF
Days on Market4
Property Features for 5940 S Ashland Avenue
General Information
Standard status
Active
Size
5,644 SF
Property subtype
Business Opportunity
Zoning
COMMR
Taxes and HOA fees
Annual Taxes
$17,332
Building Details
Building Size
5,644 SF
Stories
1
Listing Agency:
Keller Williams Chicago ONEChicago
Listed By:
Iris McBride · License #475.174137
(312) 622-5105
Source:
Evrealestate
Added: Oct 2
Changed: Oct 4
Last Checked: Oct 4 at 2:22PM
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 Keller Williams Chicago ONEChicago
Investment Insights
Based on property information with market context.
This car wash property is at 5940 S Ashland Avenue in Chicago. The site is on Ashland Avenue, just south of 59th Street, and is designated COMMR zoning.
Key Highlights
- Located on S Ashland Avenue, just south of 59th Street
- COMMR zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,393
Cap Rate
6.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$707,860
$707.9K
Cap Rate 7%
$505,614
$505.6K
Cap Rate 9%
$393,256
$393.3K
Market Conditions
NOI Build-Up for 5,644 SF
Gross rent
$53.2K $9.43/SF
− Vacancy
−$2.7K −$0.47/SF
EGI
$50.6K $8.96/SF
− OpEx
−$15.2K −$2.69/SF
NOI
$35.4K $6.27/SF
Area
Chicago, IL
Vacancy
5.00%
Lease Rate
$9.43 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$707,860
Cap Rate 7%
$505,614
Cap Rate 9%
$393,256
Alternative Uses
Best Use
Specialty Retail
$1.50M
$1.31M – $1.75M
NOI $105,046 @ 7.0% cap · market cap 18.59%
Second Best
Retail
$1.12M
$976.1K – $1.30M
NOI $78,084 @ 7.0% cap · market cap 13.82%
Theoretical Best
Office A
$2.66M
$2.33M – $3.10M
NOI $186,279 @ 7.0% cap · market cap 32.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
737
Businesses Nearby
Explore this area
Business Placement
Demographics for 60636, IL
34,800
Population
14,363
Households
2.4
Avg Household Size
35
Median Age
11%
College-Educated
78%
High-School Grad
3.9 sq mi
ZIP Area
8,923
Density / Sq Mi
$35,077
Median Household Income
$30,411
Median Earnings
$1,135
Median Rent
$150,600
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 Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - The property is designated COMMR zoning.
Where is this car wash located?
The property is located at 5940 S Ashland Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Located on S Ashland Avenue, just south of 59th Street; COMMR zoning
