Four-Bay Auto
New
For Sale
$399,900
971 Burnham Ave, Calumet City, IL 60409
Commercial garage property with a corner-lot setting and multiple automotive service applications.
Property Size2,100 SF
Price / SF$190.43
Days on Market3
Property Features for 971 Burnham Ave
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Business Opportunity
Additional Details
Service Bays
4
Building Details
Buildings
1
Listing Agency:
HomeSmart Realty Group
Listed By:
Orlando Alvarez · License #475143392
(773) 370-3309
Source:
Grandviewrealtyservices
Added: Sep 22
Changed: Sep 23
Last Checked: Sep 23 at 2:45AM
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 HomeSmart Realty Group
Investment Insights
Based on property information with market context.
This commercial auto shop is configured as a four-bay garage building at 971 Burnham Ave in Calumet City, Illinois. The property is presented for automotive repair, detailing, fleet services, or contractor headquarters use, providing a flexible setup for an owner-user or investor.
Its corner-lot position supports exposure from two intersecting streets. The building’s garage configuration accommodates automotive-oriented operations and can also support the contractor use identified for the property.
Its corner-lot position supports exposure from two intersecting streets. The building’s garage configuration accommodates automotive-oriented operations and can also support the contractor use identified for the property.
Key Highlights
- Four‑bay commercial garage building
- Corner‑lot location at 971 Burnham Ave
- Located in Calumet City, IL 60409
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
$29,148
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
7.29%
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%
$582,960
$583.0K
Cap Rate 7%
$416,400
$416.4K
Cap Rate 9%
$323,867
$323.9K
Market Conditions
NOI Build-Up for 2,100 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
$45.4K $21.60/SF
− Vacancy
−$3.7K −$1.77/SF
EGI
$41.6K $19.83/SF
− OpEx
−$12.5K −$5.95/SF
NOI
$29.1K $13.88/SF
Area
Cook County, IL
Vacancy
8.20%
Lease Rate
$21.60 /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%
$582,960
Cap Rate 7%
$416,400
Cap Rate 9%
$323,867
Alternative Uses
Best Use
Retail
$416.4K
$364.4K – $485.8K
NOI $29,148 @ 7.0% cap · market cap 7.29%
Second Best
Industrial
$129.1K
$113.0K – $150.7K
NOI $9,040 @ 7.0% cap · market cap 2.26%
Theoretical Best
Office A
$725.0K
$634.4K – $845.9K
NOI $50,752 @ 7.0% cap · market cap 12.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Service bays
Location Intelligence
Trade Area within ½ mile
323
Businesses Nearby
45k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 71%
Shops & Services 29%
McDonald's
Dining
25,457 visits/mo
0.4 miles
Dollar General
Shops & Services
9,295 visits/mo
0.4 miles
Mr. Submarine
Dining
6,098 visits/mo
0.5 miles
Fifth Third Bank & ATM
Shops & Services
3,730 visits/mo
0.1 miles
Demographics for 60409, IL
36,045
Population
16,868
Households
2.1
Avg Household Size
39
Median Age
20%
College-Educated
88%
High-School Grad
7.7 sq mi
ZIP Area
4,681
Density / Sq Mi
$53,991
Median Household Income
$37,389
Median Earnings
$1,138
Median Rent
$133,600
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 Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Friendly Service Center — 1290 Freeland Ave, Calumet City, IL 60409
- Calumet City Auto Tinting — 671 River Oaks Dr Suite B, Calumet City, IL 60409
- Good Year — 1227 Burnham Ave, Calumet City, IL 60409
- AA Calumet City Mechanic And Tire Shop — 1227 Burnham Ave, Calumet City, IL 60409
- Cassidy Tire and Service — 1063 River Oaks Dr, Calumet City, IL 60409
Frequently Asked Questions
What type of property is this?
Auto shop - Commercial garage property with a corner-lot setting and multiple automotive service applications.
Where is this auto shop located?
The property is located at 971 Burnham Ave Calumet City, IL.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Four‑bay commercial garage building; Corner‑lot location at 971 Burnham Ave; Located in Calumet City, IL 60409
