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 Market42
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
(618) 305-5950
Listed By:
RAE HANNA · License #471022335
Source:
Bktchicago
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 25 at 4:08AM
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$108,454
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.20%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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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
