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    251 Derby St Pekin, IL 61554

    Sponsored
    For Sale
    $199,000

    Established Bar/Venue, Fully Equipped, Liquor License

    Property size:
    2,640 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    340
    This exceptional turnkey opportunity presents the Twisted Spoke Saloon, a well-established bar and concert venue located at 251 Derby Street, Pekin, IL. The 2,640 square foot building sits on a 0.45-acre lot and is offered for sale at $199,000. The property includes all furniture, fixtures, and equipment, representing a significant cost savings for a new owner. The sale also includes an active liquor license, allowing immediate operation. The Twisted Spoke boasts a full kitchen, a spacious outdoor patio, and ample parking, catering to a diverse clientele. Recent updates ensure the building is in excellent condition. The property features a state-of-the-art sound system, ideal for live music performances, which were a key part of the venue's previous operation. Further enhancing the income potential are leased gaming machines, an ATM, a jukebox, and league dartboards. The business closed in August 2024, presenting a unique chance to acquire a ready-to-operate, well-known establishment in the Pekin community. This is a rare opportunity to purchase a fully equipped and licensed bar and venue with significant existing infrastructure and potential for immediate revenue generation.

    Property Features for 251 Derby St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    2,640 SF
    Lot Size
    19,602 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    ATM Atm Twisted Spoke Saloon Bar & Grill

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Pekin
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.65494
    Latitude
    40.55676

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    FAQs

    What type of property is this?
    Commercial real estate - Established Bar/Venue, Fully Equipped, Liquor License
    Where is this commercial real estate located?
    The property is located at 251 Derby St Pekin, IL.
    What is the asking price?
    The asking price for this property is $199,000.
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    251 Derby St Pekin, IL 61554
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    Realmo Value Estimation

    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.

    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.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    251 Derby St Pekin, IL 61554
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