4751 Central AveChicago, IL 60638

Property Details for 4751 Central Ave

Year built

1989

Lot size

0.07 AC

Property type

Retail properties

Property subtype

Retail space

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,464,490

  6.5%

  $1,351,837

  7%

  $1,255,277

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,017,513

  Geo Method

  $1,017,513

• Alternative Use

  Use

  Valuation

  Residential

  $1,140,325

  Hospitality

  $1,044,532

  Educational

  $869,038

  Medical

  $898,926

  Retail

  $1,351,837

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.8058

Longitude

-87.7623

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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