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    The Largest CRE Database in the US with Over 1 Million Listings

    681 N Mill St Nashville, IL 62263

    Sponsored
    For Sale
    $250,000

    COMMERCIAL - Nashville, IL

    Days on Market:
    53
    Last Refresh:
    Jan 30 at 8:06 am

    Property Features for 681 N Mill St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    city
    APN
    101213383008
    Parking
    10

    Utilities

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

    Building Details

    Year built
    1950
    Floors in Building
    1
    Flooring type
    Concrete
    Building materials
    Vinyl Siding, Frame

    We can help!

    Listing Contact
    Stacey Russell

    Somer Real Estate (618) 548-5123

    Listing agent Stacey Russell

    Listing date Dec 9, 2025

    MLS# EB460678

    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.

    Learn more

    Property Insight Report

    Overview

    Nashville Commercial Property on Route 127

    Located on Route 127 in Nashville, Illinois, this commercial property presents an opportunity for various business ventures. The property has operated as a local bar under the same owner for 19 years. It includes a bar area, cooler, enclosed porch area, and an outside fenced area with tables. Some items such as tables and chairs are negotiable. Parking is available in front of the building. Additionally, the property includes two adjoined buildings. One of these buildings previously functioned as a diner, while the other provides warehouse space with character. The property offers potential for uses such as a sports bar or mechanic shop, and includes a second story with brick walls, a loft area, and a basement area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    DP Custom Powder ... Powder Coating Service

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

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

    Similar Places Nearby

    Slip In Saloon, Circle K, 127 Lounge, Jules Joint Nashville, IL, Lucky Larry's Slots

    Location Insight

    • Map
    • Local Demand
    City
    Nashville
    County
    Washington
    State
    Illinois
    Longitude
    -89.380942
    Latitude
    38.348376

    Nearby Similar for Sale

    • $95,000

      Downtown Nashville Commercial Building

      Two-story commercial building in downtown Nashville with high visibility.
      211 St W, Nashville, IL 62263
      View Details
    • $690,000
      0.42 Acres

      Nashville Bistro & Bakery for Sale

      Turnkey Restaurant, High-Traffic Location
      313 St. Louis St, Nashville, IL 62263
      View Details

    FAQs

    What type of property is this?
    Bar - Commercial property with bar, diner, and warehouse spaces in Nashville.
    Where is this bar located?
    The property is located at 681 N Mill St Nashville, IL.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: - High-visibility location on Route 127; - Established business location with existing bar area and equipment; - Multiple buildings included: former bar, diner, and warehouse
    (618) 322-4321
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    681 N Mill St Nashville, IL 62263
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    Nashville, IL 62263
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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
    681 N Mill St Nashville, IL 62263
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    We can help!
    Listing Contact
    Stacey Russell
    Real Estate License ID: 471017953
    (618) 322-4321
    Learn more
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