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    Mixed-Use Property in Downtown Carlyle Title is generated by Realmo AI

    1031 Fairfax Street, Carlyle, IL 62231

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    For Sale
    $210,000

    Business - Carlyle, IL

    Type:Business
    Property size:
    3,228 SF
    Lot size:
    0.15 Acres
    Price / SF:
    $65/SF
    Added:
    Jan 7, 2026
    Days on Market:
    121
    Last Refresh:
    May 8 at 8:06 pm

    Property Features for 1031 Fairfax Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Business
    Appliances
    Dishwasher, Dryer, Microwave, Oven - Gas, Refrigerator, Washer
    Standard status
    Active
    APN
    08-08-183-22-008
    Size
    3,228 SF
    Lot size
    0.15 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    5253.74

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1895
    Building materials
    Vinyl Siding
    Architectural style
    Other

    We can help!

    Listing Contact
    Ed Kleber
    Ed Kleber

    Listing agent Ed Kleber License #471000282

    Listing office Equity Realty Group, LLC 806 Broadway, Highland, IL

    Listing date Jan 7, 2026

    MLS# 25049211 Listing URL

    Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Turn‑key, fully operational bar and grill (Schleicher’s) with loyal customer base and all kitchen equipment included.
    • Updated two‑bedroom apartment with private entrance offers flexible use (live‑in or rent) and potential $14,000 annual income.
    • Prime downtown Carlyle location with high visibility.
    • Mixed‑use property offering both business and residential opportunities.
    • Includes essential appliances: gas stove, stainless steel refrigerator, hot water heater, washer, and dryer.
    • Building has central air conditioning.

    Overview

    This two-story mixed-use property is located in downtown Carlyle. The main level features a fully operational bar and grill, including all kitchen equipment. Upstairs, there is an updated two-bedroom, one-bath apartment with a private exterior entrance. Appliances include a gas stove, stainless steel refrigerator, hot water heater, and washer/dryer. The apartment offers the potential for approximately $14,000 in annual rental income. The property is situated on a lot of approximately 0.15 acres and has a total size of 3228 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Zedd's Bar & Grill — 1011 Fairfax St, Carlyle, IL 62231
    • Jay's Flamingo — 1191 Fairfax St, Carlyle, IL 62231
    • Riverside Outdoors — 170 Washington St, Carlyle, IL 62231
    • Schleicher's Bar & Grill — 1031 Fairfax St #1813, Carlyle, IL 62231

    Location Insight

    • Map
    • Local Demand
    City
    Carlyle
    County
    Clinton
    State
    Illinois
    Longitude
    -89.370857
    Latitude
    38.611446

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    FAQs

    What type of property is this?
    Bar & Pub - Two-story mixed-use property with bar/grill and updated apartment.
    Where is this bar & pub located?
    The property is located at 1031 Fairfax Street Carlyle, IL.
    What is the asking price?
    The asking price for this property is $210,000.
    What are key features of this property?
    This property features: Turn‑key, fully operational bar and grill (Schleicher’s) with loyal customer base and all kitchen equipment included.; Updated two‑bedroom apartment with private entrance offers flexible use (live‑in or rent) and potential $14,000 annual income.; Prime downtown Carlyle location with high visibility.
    (618) 526-0021
    We can help!
    Listing Contact
    Ed Kleber
    Ed Kleber
    Real Estate License ID: 471000282
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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