Downtown Mixed-Use Restaurant
For Sale
$525,000
100 S Illinois Avenue, Carbondale, IL 62901
Historic brick property combines a restaurant and bar with two upstairs apartments in downtown Carbondale.
Property Size3,475 SF
Price / SF$151.08
Days on Market28
Property Features for 100 S Illinois Avenue
General Information
Standard status
Active
Size
3,475 SF
Property subtype
Commercial
Zoning
Commercial
Additional Details
Business Included
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$20,919
Building Details
Building Size
3,475 SF
Year Built
1852
Buildings
1
Construction
brick
Listing Agency:
Southern Illinois Realty Experts - Carbondale
(618) 713-5353
Listed By:
Nikki Rishel
(618) 713-5353
Source:
Shawneehillsrealestate
Added: Jul 10
Changed: Aug 5
Last Checked: Aug 5 at 7:44AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Southern Illinois Realty Experts - Carbondale
Investment Insights
Based on property information with market context.
This mixed-use property includes a restaurant and bar business along with the building, offering a combined real estate and operating-business opportunity. The all-brick structure dates to 1852 and features high ceilings, numerous windows, and contemporary interior finishes. The restaurant area is arranged for casual dining, with the existing business known for Thai cuisine.
Two separate apartments occupy the upper level and provide additional income-producing space. The property sits at the southwest corner of Main Street and Illinois Avenue in downtown Carbondale, with Commercial zoning and a central position within the downtown area.
Two separate apartments occupy the upper level and provide additional income-producing space. The property sits at the southwest corner of Main Street and Illinois Avenue in downtown Carbondale, with Commercial zoning and a central position within the downtown area.
Key Highlights
- Restaurant and bar business included with the building
- Two separate apartments on the upper level
- All‑brick building constructed in 1852
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.2k | $18.48 |
| − Vacancy | −$2.7k | −$0.78 |
| EGI | $61.5k | $17.70 |
| − OpEx | −$15.4k | −$4.43 |
| NOI | $46.1k | $13.28 |
3,475 SF · lease $18.48/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$659.2K
$576.8K – $769.0K
NOI $46,141 @ 7.0% cap · market cap 8.79%
Second Best
Mixed Use
$280.6K
$245.5K – $327.3K
NOI $19,640 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$947.2K
$828.8K – $1.11M
NOI $66,303 @ 7.0% cap · market cap 12.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,459
Businesses Nearby
Explore this area
Business Placement
Demographics for 62901, IL
22,967
Population
12,498
Households
1.8
Avg Household Size
29
Median Age
48%
College-Educated
95%
High-School Grad
27.1 sq mi
ZIP Area
847
Density / Sq Mi
$32,960
Median Household Income
$23,962
Median Earnings
$732
Median Rent
$137,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic brick property combines a restaurant and bar with two upstairs apartments in downtown Carbondale.
Where is this mixed-use property located?
The property is located at 100 S Illinois Avenue Carbondale, IL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Restaurant and bar business included with the building; Two separate apartments on the upper level; All‑brick building constructed in 1852
