Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    509 S ILLINOIS Avenue Carbondale, IL 62901

    View on Map
    For Sale
    $695,000

    COMMERCIAL - Carbondale, IL

    Added:
    Jun 27, 2025
    Days on Market:
    280
    Last Refresh:
    Apr 2 at 1:06 am

    Property Features for 509 S ILLINOIS Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    BPL
    Parking
    20
    Standard status
    Active
    APN
    15-21-257-015

    Taxes and HOA fees

    TaxYear
    2023
    TaxDescription
    SANDERS S/D LOTS 311 & 312 N 40' OFFLOT 313
    TaxAnnualAmount
    15793

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1985
    Floors in Building
    1
    Flooring type
    Tile
    Building materials
    Brick, Steel Frame
    Roof type
    Metal

    We can help!

    Listing Contact
    Rolf R Schilling

    Listing agent Rolf R Schilling License #471012048

    Listing office COMMERCIAL REALTY ASSOCIATES 601 E WALNUT, Carbondale, IL

    Listing date Jun 27, 2025

    MLS# EB458615

    Copyright © 2025 RMLS Alliance. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Established Restaurant Opportunity in Carbondale

    This commercial property in Carbondale, Illinois, presents an investment opportunity. The sale includes the building and all equipment and furnishings from Pagliai's Pizza and Pasta, which operated for 57 years. An updated HVAC system is to be installed. The property includes an adjacent parking lot, plus employee parking on the south side. Additional parking is available in the City's parking lots adjacent to the building. The property is located in Carbondale's TIF District and Enterprise Zone, potentially offering tax benefits. The zoning is BPL.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Pagliai's of Carbondale Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Carbondale
    County
    Jackson
    State
    Illinois
    Longitude
    -89.216169
    Latitude
    37.723096

    Nearby Similar for Sale

    • $375,000

      Versatile Commercial Property in Carbondale

      Spacious commercial property with office, warehouse, and multi-use functionality.
      1275 N Reed Station Road, Carbondale, IL 62901
      View Details
    • $275,000

      Carbondale Commercial Corner Property

      High-visibility commercial building near Southern Illinois University.
      718 S ILLINOIS Avenue, Carbondale, IL 62901
      View Details
    • $359,900

      Executive Office in Cedar Court

      Modern, updated executive offices in Carbondale's premier office park.
      1160 CEDAR Court, Carbondale, IL 62901
      View Details
    • $599,000

      Carbondale Storage Facility For Sale

      Nearly new moving and storage facility in Carbondale, Illinois.
      325 W Industrial Park Road, Carbondale, IL 62901
      View Details
    • $425,000

      Multi-Tenant Building in Carbondale, IL

      Multi-tenant commercial building with income potential in Carbondale, IL.
      1130 E MAIN Street, Carbondale, IL 62901
      View Details
    • $359,900

      Carbondale Multifamily Investment Opportunity

      Seven-unit complex with central heat, air, and separate meters.
      390 N Beadle Drive, Carbondale, IL 62901
      View Details
    • $400,000

      Carbondale Land For Sale/Lease

      High-visibility commercial land in Carbondale's business district.
      1915-1921 W SYCAMORE Street, Carbondale, IL 62901
      View Details
    • $520,000

      Carbondale Commercial Investment Opportunity

      Subway building for sale, leased for 5 years NNN.
      1201 W MAIN Street, Carbondale, IL 62901
      View Details
    • $479,000

      Prime Carbondale Retail Storefront Opportunity

      Four retail spaces near upcoming Multimodal Station in downtown Carbondale.
      300 S ILLINOIS Avenue, Carbondale, IL 62901
      View Details
    • $430,000

      Remodeled IT Building on Highway

      Remodeled office building with high visibility and technological infrastructure.
      608 EASTGATE Drive, Carbondale, IL 62901
      View Details
    • $720,000

      Carbondale Multifamily Foreclosure Opportunity

      Fourteen townhouse units near Southern Illinois University campus.
      405-411 E MILL Street unit: 14, Carbondale, IL 62901
      View Details
    • $489,000

      Carbondale Commercial Building For Sale

      One-story building in premier business park, adaptable for various uses.
      1235 CEDAR Court, Carbondale, IL 62901
      View Details

    FAQs

    What type of property is this?
    Turn key restaurant - Turnkey restaurant with equipment, furnishings, and parking included.
    Where is this turn key restaurant located?
    The property is located at 509 S ILLINOIS Avenue Carbondale, IL.
    What is the asking price?
    The asking price for this property is $695,000.
    What are key features of this property?
    This property features: Established business opportunity: Includes the Pagliai's Pizza and Pasta business with 57 years of successful operation.; Sale encompasses all necessary equipment and furnishings for immediate operation.; Benefit from a newly installed HVAC system.
    (618) 303-0700
    We can help!
    Listing Contact
    Rolf R Schilling
    Real Estate License ID: 471012048
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!