Established Bar and Pub with
For Sale
$1,750,000
101 W Monroe St, Carbondale, IL 62901
Two fully equipped bars, gaming, and separate retail spaces support varied on-site operations.
Property Size8,168 SF
Price / SF$214.25
Days on Market87
Property Features for 101 W Monroe St
General Information
Standard status
Active
Size
8,168 SF
Additional Details
Business Included
Yes
Building Details
Year Built
1966
Listing Agency:
Coldwell Banker DHH Realty
Listed By:
RAE HANNA · License #471022335
(618) 305-5950
Source:
Bktchicago
Added: Jul 20
Changed: Sep 12
Last Checked: Oct 7 at 2:53PM
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 Coldwell Banker DHH Realty
Investment Insights
Based on property information with market context.
The Cellar is an 8,168-square-foot bar and pub property built in 1966, with two fully equipped bars, established gaming, and two retail spaces within the building. The property has been maintained during 25 years of operation and includes ownership rights to The Cellar name and its Bloody Mary recipe.
Located at 101 W Monroe St in Carbondale, Illinois, the property combines hospitality operations with additional retail space under one roof. The business identity, recipe, gaming setup, bar improvements, and retail components transfer as part of the offering, providing a defined operating platform for the next owner.
Located at 101 W Monroe St in Carbondale, Illinois, the property combines hospitality operations with additional retail space under one roof. The business identity, recipe, gaming setup, bar improvements, and retail components transfer as part of the offering, providing a defined operating platform for the next owner.
Key Highlights
- 8,168‑square‑foot bar and pub property built in 1966
- Two fully equipped bars and established gaming
- Two retail spaces within the building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$108,454
Cap Rate
6.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,169,080
$2.2M
Cap Rate 7%
$1,549,343
$1.5M
Cap Rate 9%
$1,205,044
$1.2M
Market Conditions
NOI Build-Up for 8,168 SF
Gross rent
$150.9K $18.48/SF
− Vacancy
−$6.3K −$0.78/SF
EGI
$144.6K $17.70/SF
− OpEx
−$36.2K −$4.43/SF
NOI
$108.5K $13.28/SF
Area
Jackson County, IL
Vacancy
4.20%
Lease Rate
$18.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,169,080
Cap Rate 7%
$1,549,343
Cap Rate 9%
$1,205,044
Alternative Uses
Best Use
Specialty Retail
$1.55M
$1.36M – $1.81M
NOI $108,454 @ 7.0% cap · market cap 6.20%
Second Best
Retail
$1.41M
$1.23M – $1.64M
NOI $98,594 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $155,845 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,459
Businesses Nearby
Well-served
Demand for This Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Two fully equipped bars, gaming, and separate retail spaces support varied on-site operations.
Where is this bar & pub located?
The property is located at 101 W Monroe St Carbondale, IL.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 8,168‑square‑foot bar and pub property built in 1966; Two fully equipped bars and established gaming; Two retail spaces within the building
