Hi Cobby,
As a former coffee house owner, I can tell you that walk-by traffic is king. Try hanging out by your proposed shop for an hour or 2, at different times during the day / week, to see how much & the kind of walking traffic this address gets. Without good walk by, it will take a huge amount of work & time to get the word out about your business. It's good to be a do-it-yourselfer, but don't completely discount the value that a professional (web developer or marketing / advertising person) can bring to your business.
Also, as great as this location may appear, walk around the neighborhood, or check with a local commercial realtor to see if there are other options. There may be an even better location available, that you haven't seen yet.
Best of luck on your venture. Running a coffee bar, is one of the best jobs I've ever had. Do your homework (which you appear to be doing), and you should be fine. Oh, and a final piece of advice...
Kindest Regards,
Dave