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    Turnkey Bar and Grill with Patio Title is generated by Realmo AI

    707 Freeport Road, Sterling, IL 61081

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    Claim this Listing
    New
    For Sale
    $799,000

    COMMERCIAL - Sterling, IL

    Lot size:
    2.52 Acres
    Added:
    Jun 4, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 6 at 6:06 am

    Property Features for 707 Freeport Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Fireplace
    1
    Standard status
    Active
    APN
    11154780160000
    Lot size
    2.52 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    6282

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1981
    Floors in Building
    1
    Number of units
    1
    Building materials
    Aluminum Siding

    We can help!

    Listing Contact
    Selznick Garcia

    Listing agent Selznick Garcia

    Listing office RE/MAX Sauk Valley 110 E Lynn Blvd., Sterling, IL

    Listing date Jun 4, 2026

    MLS# 12668306

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 1981‑built commercial bar and grill with central air and multiple comfort systems including five furnaces and 2 mini‑split units
    • Fully equipped commercial kitchen with walk‑in cooler and freezer, 18' hood system, multiple fryers, griddle, broiler, prep refrigeration, and stainless work areas
    • Includes gaming room with multiple gaming machines and pool tables, plus main dining area with booths, tables, and bar seating
    • Large outdoor patio approx. 29' x 35', and fireplace in the main seating area
    • Liquor room, office/camera room, employee restroom, jukebox, and basement storage with sump pumps
    • Sale includes all furniture, equipment, inventory, and fully stocked liquor and food supply, plus approx. 50+ parking spaces

    Overview

    This turnkey bar and grill property is set up for day-one food and beverage service. The layout includes a main dining area with booths, tables, and bar seating, plus a dedicated gaming room with multiple gaming machines and pool tables. A fully equipped commercial kitchen supports production with an approximately 18-foot hood system, walk-in cooler and freezer, multiple fryers, griddle, broiler, prep refrigeration, stainless steel work areas, ice machine, and ample storage. Additional operating amenities include a liquor room, office/camera room, employee restroom, and a jukebox, with a fireplace in the main seating area. The building also includes basement storage with sump pumps. Comfort and climate control are supported by five furnaces, central air conditioning, and two mini-split units.

    The property is located at 707 Freeport Road in Sterling, Illinois, offering on-site parking of approximately 50+ spaces and a large rear lot. A spacious outdoor patio measuring approximately 29' x 35' provides an additional guest-serving area.

    For operators and owners looking to continue or expand hospitality offerings, the included equipment and restaurant infrastructure are designed to support a full-service concept. The sale includes all furniture, equipment, inventory, and a fully stocked liquor and food supply, which can help streamline a transition to ongoing operations. The rear lot also provides room to consider additional commercial uses or future expansion within the property footprint.
    Property Profile Location Intelligence

    Current Use by Public Records

    Johnny's Bar & Grill Bar & Pub

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Sterling
    County
    Whiteside
    State
    Illinois
    Longitude
    -89.6705276
    Latitude
    41.8020144

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    FAQs

    What type of property is this?
    Conventional restaurant - Fully equipped bar and grill with commercial kitchen, gaming room, and spacious outdoor patio for immediate operations.
    Where is this conventional restaurant located?
    The property is located at 707 Freeport Road Sterling, IL.
    What is the asking price?
    The asking price for this property is $799,000.
    What are key features of this property?
    This property features: 1981‑built commercial bar and grill with central air and multiple comfort systems including five furnaces and 2 mini‑split units; Fully equipped commercial kitchen with walk‑in cooler and freezer, 18' hood system, multiple fryers, griddle, broiler, prep refrigeration, and stainless work areas; Includes gaming room with multiple gaming machines and pool tables, plus main dining area with booths, tables, and bar seating
    (815) 625-3722
    We can help!
    Listing Contact
    Selznick Garcia
    Request Owner's contact information
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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.

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