Turnkey QSR Restaurant with
For Sale
$425,000
1017 W Main St, Peoria, IL 61606
Freestanding turnkey restaurant with a wrap-around drive-thru, full commercial kitchen support, and ADA-compliant facilities.
Property Size3,380 SF
Price / SF$125.74
Days on Market51
Property Features for 1017 W Main St
General Information
Standard status
Active
Size
3,380 SF
Property subtype
Restaurant
Zoning
WM
Additional Details
Business Included
Yes
Road Access
Yes
Heavy Power
Yes
Grease Trap
Yes
Listing Agency:
Maloof Commercial Real Estate Company
(309) 693-3000
Listed By:
Daniel Maloof · License #475122647
(309) 693-3000
Source:
Thebrokerlist
Added: Jun 17
Changed: Jul 10
Last Checked: Aug 6 at 3:25AM
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 Maloof Commercial Real Estate Company
Investment Insights
Based on property information with market context.
This turnkey fast-casual/QSR freestanding restaurant offers a built-in commercial food service setup designed for high-volume cooking. The space includes a built-in walk-in cooler/freezer, commercial kitchen hookups, and a professional grease interceptor layout. Three-phase electrical infrastructure is in place to support fryers, automated lines, and heavier HVAC loads, giving an operator the practical foundation for a modern kitchen workflow. ADA-compliant facilities are also provided for both customers and staff, supporting accessible service and operations.
The property features a fully paved wrap-around drive-thru lane and an expansive surface parking lot, with convenient ingress and egress directly on Main Street. The site is positioned for customers arriving by car, with the drive-thru configuration built into the restaurant site plan. The surrounding area is described as a lively commercial setting near Bradley University.
For tenants or buyers seeking a restaurant-ready site, this offering combines the key operational components—kitchen hookups, grease handling, and upgraded electrical—with a drive-thru lane and straightforward street access. Its WM - West Main Form District zoning is described as permissive for modern commercial uses, aligning with restaurant and related commercial operations.
The property features a fully paved wrap-around drive-thru lane and an expansive surface parking lot, with convenient ingress and egress directly on Main Street. The site is positioned for customers arriving by car, with the drive-thru configuration built into the restaurant site plan. The surrounding area is described as a lively commercial setting near Bradley University.
For tenants or buyers seeking a restaurant-ready site, this offering combines the key operational components—kitchen hookups, grease handling, and upgraded electrical—with a drive-thru lane and straightforward street access. Its WM - West Main Form District zoning is described as permissive for modern commercial uses, aligning with restaurant and related commercial operations.
Key Highlights
- 3,380 SF freestanding fast‑casual/QSR restaurant at 1017 W Main St, Peoria, IL 61606
- Built‑in walk‑in cooler/freezer plus commercial kitchen hookups and a professional grease interceptor layout
- 3‑phase electrical infrastructure for fryers, automated lines, and heavy HVAC loads
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
$20,336
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
4.78%
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%
$406,720
$406.7K
Cap Rate 7%
$290,514
$290.5K
Cap Rate 9%
$225,956
$226.0K
Market Conditions
NOI Build-Up for 3,380 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
$30.4K $9.00/SF
− Vacancy
−$1.4K −$0.41/SF
EGI
$29.1K $8.59/SF
− OpEx
−$8.7K −$2.58/SF
NOI
$20.3K $6.02/SF
Area
Peoria, IL
Vacancy
4.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
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%
$406,720
Cap Rate 7%
$290,514
Cap Rate 9%
$225,956
Alternative Uses
Best Use
Specialty Retail
$619.3K
$541.9K – $722.5K
NOI $43,349 @ 7.0% cap · market cap 10.20%
Second Best
Industrial
$290.5K
$254.2K – $338.9K
NOI $20,336 @ 7.0% cap · market cap 4.78%
Theoretical Best
Multifamily LT 5
$2.96M
$2.59M – $3.45M
NOI $206,975 @ 7.0% cap · market cap 48.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Heavy power
Yes
Paved road access
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
847
Businesses Nearby
45k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 57%
Shops & Services 43%
Starbucks
Dining
10,423 visits/mo
0.2 miles
Shell
Shops & Services
9,477 visits/mo
0.1 miles
Dollar Tree
Shops & Services
7,855 visits/mo
0.2 miles
SUBWAY
Dining
6,306 visits/mo
0.2 miles
Jimmy John's
Dining
3,440 visits/mo
0.1 miles
Demographics for 61606, IL
6,798
Population
2,898
Households
2.3
Avg Household Size
26
Median Age
40%
College-Educated
92%
High-School Grad
1.2 sq mi
ZIP Area
5,665
Density / Sq Mi
$41,023
Median Household Income
$14,738
Median Earnings
$907
Median Rent
$119,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Drive through restaurant - Freestanding turnkey restaurant with a wrap-around drive-thru, full commercial kitchen support, and ADA-compliant facilities.
Where is this drive through restaurant located?
The property is located at 1017 W Main St Peoria, IL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 3,380 SF freestanding fast‑casual/QSR restaurant at 1017 W Main St, Peoria, IL 61606; Built‑in walk‑in cooler/freezer plus commercial kitchen hookups and a professional grease interceptor layout; 3‑phase electrical infrastructure for fryers, automated lines, and heavy HVAC loads
