Two-Unit Mixed-Use
For Sale
$749,999
7710-12 W Belmont Ave, Chicago, IL 60634
Combined office and restaurant uses with separate utilities and rear tandem parking.
Property Size4,000 SF
Price / SF$187.50
Days on Market28
Property Features for 7710-12 W Belmont Ave
General Information
Standard status
Active
Size
4,000 SF
Total Parking Spaces
8
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Office Units
1
Amenities
Public Transprtation Adjacent
Building Details
Year Built
1957
Tenancy
Multi
Listing Agency:
Hometown Real Estate
(773) 870-2773
Listed By:
Nikki Mayer · License #471010465
Source:
Saladinosells
Added: Aug 5
Changed: Aug 29
Last Checked: Aug 31 at 7:33PM
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 Hometown Real Estate
Investment Insights
Based on property information with market context.
Built in 1957, this 4,000 SF mixed-use property contains two commercial spaces: one office unit and a second unit configured for restaurant or commercial kitchen use. Each space has individual utilities, providing separate service arrangements for the occupants. The property has existing long-term tenants and includes rear parking arranged as eight tandem spaces, along with street parking. Located on W Belmont Ave west of Overhill, the building is adjacent to public transportation in the Belmont commercial corridor. The property may also be acquired together with 7714 Belmont.
Key Highlights
- 4,000 SF mixed‑use property built in 1957
- Two commercial spaces: one office unit and one restaurant/commercial kitchen unit
- Individual utilities serve each space
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
$61,050
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
8.14%
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%
$1,221,000
$1.2M
Cap Rate 7%
$872,143
$872.1K
Cap Rate 9%
$678,333
$678.3K
Market Conditions
NOI Build-Up for 4,000 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
$105.6K $26.40/SF
− Vacancy
−$7.9K −$1.98/SF
EGI
$97.7K $24.42/SF
− OpEx
−$36.6K −$9.16/SF
NOI
$61.1K $15.26/SF
Area
ZIP 60634
Vacancy
7.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
37.50%
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%
$1,221,000
Cap Rate 7%
$872,143
Cap Rate 9%
$678,333
Alternative Uses
Best Use
Specialty Retail
$1.01M
$883.6K – $1.18M
NOI $70,686 @ 7.0% cap · market cap 9.42%
Second Best
Mixed Use
$872.1K
$763.1K – $1.02M
NOI $61,050 @ 7.0% cap · market cap 8.14%
Theoretical Best
Office A
$1.09M
$954.4K – $1.27M
NOI $76,350 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
752
Businesses Nearby
Explore this area
Business Placement
Demographics for 60634, IL
75,694
Population
29,344
Households
2.6
Avg Household Size
41
Median Age
27%
College-Educated
87%
High-School Grad
7.1 sq mi
ZIP Area
10,661
Density / Sq Mi
$84,997
Median Household Income
$46,694
Median Earnings
$1,271
Median Rent
$333,900
Median Home Value
Market
Vacancy Rate% for Office in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Combined office and restaurant uses with separate utilities and rear tandem parking.
Where is this mixed-use property located?
The property is located at 7710-12 W Belmont Ave Chicago, IL.
What is the asking price?
The asking price for this property is $749,999.
What are key features of this property?
This property features: 4,000 SF mixed‑use property built in 1957; Two commercial spaces: one office unit and one restaurant/commercial kitchen unit; Individual utilities serve each space
