Turn-Key Cafe
For Sale
Contact for pricing
7555 N California Ave, Chicago, IL 60645
Cafe available for new ownership at California and Howard.
Property Size1,640 SF
Price / SF$518.29
Days on Market774
Property Features for 7555 N California Ave
General Information
Standard status
Active
Size
1,640 SF
Class
A
Property subtype
Retail
Zoning
commercial
Investment Type
Owner/User
Building Details
Year Renovated
2024
Buildings
1
Stories
1
Listing Agency:
Imperial Realty Company
(773) 736-6461
Listed By:
Theron May · License #IL 471.019986
Source:
Crexi
Added: Jun 30, 2024
Changed: Aug 8
Last Checked: Aug 10 at 4:23AM
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 Imperial Realty Company
Investment Insights
Based on property information with market context.
Located at the southeast corner of California and Howard, this turn-key cafe is available for new ownership. The existing business, Bond Coffee Collective, is ready for an experienced operator. The property benefits from high traffic volume, with over 20,000 vehicles passing by daily. The surrounding area has a substantial population, with 167,658 residents within a 2-mile radius. The property size is 1,640 square feet.
Key Highlights
- Turn‑key cafe ready for experienced operator.
- High traffic location: Over 20,000 vehicles pass daily.
- High population density: 167,658 within a 2‑mile radius.
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
$30,524
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
3.59%
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%
$610,480
$610.5K
Cap Rate 7%
$436,057
$436.1K
Cap Rate 9%
$339,156
$339.2K
Market Conditions
NOI Build-Up for 1,640 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
$43.3K $26.40/SF
− Vacancy
−$2.6K −$1.58/SF
EGI
$40.7K $24.82/SF
− OpEx
−$10.2K −$6.20/SF
NOI
$30.5K $18.61/SF
Area
Chicago, IL
Vacancy
6.00%
Lease Rate
$26.40 /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%
$610,480
Cap Rate 7%
$436,057
Cap Rate 9%
$339,156
Alternative Uses
Best Use
Specialty Retail
$436.1K
$381.6K – $508.7K
NOI $30,524 @ 7.0% cap · market cap 3.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$773.3K
$676.6K – $902.1K
NOI $54,128 @ 7.0% cap · market cap 6.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,493
Businesses Nearby
296k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 34%
Shops & Services 28%
Apparel 17%
Dining 11%
Target
Superstores
101,358 visits/mo
0.4 miles
Dollar Tree
Shops & Services
25,615 visits/mo
0.3 miles
Best Buy
Electronics
25,340 visits/mo
0.5 miles
Ross Dress for Less
Apparel
24,557 visits/mo
0.3 miles
Ross Dress for Less
Apparel
20,642 visits/mo
0.4 miles
Demographics for 60645, IL
48,356
Population
18,143
Households
2.7
Avg Household Size
36
Median Age
45%
College-Educated
86%
High-School Grad
2.2 sq mi
ZIP Area
21,980
Density / Sq Mi
$77,126
Median Household Income
$40,666
Median Earnings
$1,424
Median Rent
$308,200
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Coffee shop - Cafe available for new ownership at California and Howard.
Where is this coffee shop located?
The property is located at 7555 N California Ave Chicago, IL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Turn‑key cafe ready for experienced operator.; High traffic location: Over 20,000 vehicles pass daily.; High population density: 167,658 within a 2‑mile radius.
