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Property profile & analytics
OFF-MARKET
Commercial real estate
223 Pearl St, Waverly, IL 62692-1080
Individually Owned
Free & Clear
Property ID
US28-3772030
Property summary
AI-generated overview
This exceptional commercial property at 223 N Pearl Street, Waverly, IL, presents a unique investment opportunity. The 4,039 square foot building currently houses Verde Mae’s Kitchen, a thriving, owner-operated restaurant and bar, complete with a beer garden. The business is operational and ready for a new owner to step in and continue its success. A significant advantage lies in the potential for substantial expansion. The upstairs area offers ample space for conversion into two large apartments, generating additional rental income. Currently equipped with two gaming machines, the establishment has room for growth, as state regulations allow for six. The property is situated in a town of 1,200 residents, offering a strong local customer base. Its strategic location provides convenient access to larger cities: approximately 32 miles west of Springfield, IL
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Lot
0.15 ac (6,534 SF)
APN
19-11-204-006
UPID
US28-3772030
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Verda Mae's Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
VERDA MAES KITCHEN
VERDA MAES KITCHEN
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Waverly submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waverly submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$570
Tax year 2022
Assessed value
$10,140
Assessed 2023
Previous assessed
$10,140
+0.0% YoY
Effective rate
5.62%
On assessed value
Assessed land
$1,610
Assessed improvement
$8,530
Land market value
$4,830
Improvement market value
$25,590
Total market value
$30,420
Applied tax rate
2,003.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Lot
0.15 ac (6,534 SF)
APN
19-11-204-006
UPID
US28-3772030
Jurisdiction
MORGAN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Lot
0.15 ac
Current owner
From public records · entity-resolved
VERDA MAES KITCHEN
Individual
Free & Clear · 0 yrs held
Mailing address
223 N PEARL ST, WAVERLY, IL 62692-1080
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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