4751 Central Ave Chicago, IL 60638-1557
- Retail space
- 0.07 lot acres
Current Use by Public Records
- Dynamicx Enterprises, Inc. / Construction Company
- Illinois Expeditors / Freight Forwarding Service / Shipping Company
- Starbucks / Internet Cafe / Breakfast Restaurant
- ABN Care Home Health LLC / Home Health Care Service
- Central Healthcare, Inc / Home Health Care Service
Property Details for 4751 Central Ave
- Year built
- 1989
- Lot size
- 0.07 lot acres
- Property type
- Retail space
- Property subtype
- Storefront properties
- APN
- 19-09-100-013
- APU
- 1909100013
Description
This exceptional investment opportunity presents a brand-new, 2024-constructed Starbucks with a drive-thru, located at 4751 S Central Ave, Chicago, IL 60638. The 2,231 square foot property sits on a 0.55-acre lot and boasts a strong 5.65% cap rate, generating a net operating income (NOI) of $220,500. The property benefits from a 15-year NNN lease with a corporate guarantee from Starbucks, a Fortune 500 company with an S&P investment grade credit rating of BBB+. The lease includes rent bumps of 10% every five years, ensuring consistent income growth. This strategically positioned property enjoys high visibility and accessibility, situated along a major traffic corridor with over 31,000 vehicles daily and immediate access to Interstate-55. The location benefits from a dense and affluent population, with over 647,000 people residing within a 5-mile radius and an average household income exceeding $80,000 within a 1-mile radius. The property's proximity to downtown Chicago, numerous industrial and distribution centers, and Midway International Airport further enhances its investment appeal. The asking price is $3,902,655. The lease expires June 30, 2039, offering a substantial remaining term of 14.6 years. This Class A property represents a secure and lucrative investment in a prime Chicago location.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,400,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,165,000
- 6.5%
- $1,325,000
- 7%
- $1,285,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,495,000
- Geo Method
- $1,415,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,305,000
- Retail
- $1,290,000
- Mixed-Use
- $1,400,000
- Hospitality
- $1,255,000
- Educational
- $1,140,000
- Residential Income
- $1,240,000
- Energy
- $1,530,000
- Income-Based Land
- $1,290,000
- Food Service
- $1,545,000
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.7623
- Latitude
- 41.8058
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
