Operational Car Wash and Detailing
New
For Sale
$350,000
7737 S KEDZIE Avenue #7739, Chicago, IL 60652
Operating automotive service business with heated work bays, office space, overhead doors, and vehicle staging.
Property Size4,912 SF
Price / SF$70
Days on Market6
Property Features for 7737 S KEDZIE Avenue #7739
General Information
Standard status
Active
Size
4,912 SF
Total Parking Spaces
5
Property subtype
Business Opportunity
Zoning
COMMR
Additional Details
Asking Price
$550,000
Taxes and HOA fees
Annual Taxes
$24,208
Amenities
heated work bay space
floor drains
two new 10' overhead doors
electric water heater
employee restroom with a shower
dedicated second-floor office space
Building Details
Building Size
4,912 SF
Buildings
1
Stories
1
Construction
truss construction
Listing Agency:
Chicago Real Estate Resources
(773) 327-9300
Listed By:
Tuyen Nguyen · License #471006001
(773) 327-9300
Source:
Allinonerealestateco
Added: Aug 6
Changed: Aug 10
Last Checked: Aug 11 at 1:58PM
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 Chicago Real Estate Resources
Investment Insights
Based on property information with market context.
This operating car wash and auto detailing business occupies a 5,000 SF truss-construction building in Chicago’s Ashburn neighborhood. The facility includes approximately 4,500 SF of open, heated work-bay space with floor drains, two new 10' overhead doors, an electric water heater, and an employee restroom with a shower. A dedicated second-floor office adds approximately 500 SF of administrative space.
Five rear parking spaces support vehicle staging for customers and staff. The business is currently owner-operated, and the sale includes hands-on transition training. Proprietary in-house subscription software is available separately for membership-based operations. The property is located at 7737 S Kedzie Avenue #7739, Chicago, IL 60652.
Five rear parking spaces support vehicle staging for customers and staff. The business is currently owner-operated, and the sale includes hands-on transition training. Proprietary in-house subscription software is available separately for membership-based operations. The property is located at 7737 S Kedzie Avenue #7739, Chicago, IL 60652.
Key Highlights
- 5,000 SF truss‑construction building with approximately 4,500 SF of heated work‑bay space
- Approximately 500 SF of dedicated second‑floor office space
- Two new 10' overhead doors and floor drains in the work bays
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
$31,355
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
8.96%
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%
$627,100
$627.1K
Cap Rate 7%
$447,929
$447.9K
Cap Rate 9%
$348,389
$348.4K
Market Conditions
NOI Build-Up for 5,000 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
$47.2K $9.43/SF
− Vacancy
−$2.4K −$0.47/SF
EGI
$44.8K $8.96/SF
− OpEx
−$13.4K −$2.69/SF
NOI
$31.4K $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 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%
$627,100
Cap Rate 7%
$447,929
Cap Rate 9%
$348,389
Alternative Uses
Best Use
Specialty Retail
$1.33M
$1.16M – $1.55M
NOI $93,060 @ 7.0% cap · market cap 26.59%
Second Best
Retail
$988.2K
$864.7K – $1.15M
NOI $69,174 @ 7.0% cap · market cap 19.76%
Theoretical Best
Office A
$2.36M
$2.06M – $2.75M
NOI $165,024 @ 7.0% cap · market cap 47.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
391
Businesses Nearby
Explore this area
Business Placement
Demographics for 60652, IL
40,898
Population
13,709
Households
3
Avg Household Size
37
Median Age
22%
College-Educated
81%
High-School Grad
4.8 sq mi
ZIP Area
8,520
Density / Sq Mi
$78,559
Median Household Income
$36,488
Median Earnings
$1,208
Median Rent
$235,000
Median Home Value
Market
Vacancy Rate% for Industrial in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Operating automotive service business with heated work bays, office space, overhead doors, and vehicle staging.
Where is this car wash located?
The property is located at 7737 S KEDZIE Avenue #7739 Chicago, IL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 5,000 SF truss‑construction building with approximately 4,500 SF of heated work‑bay space; Approximately 500 SF of dedicated second‑floor office space; Two new 10' overhead doors and floor drains in the work bays
