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    221 Main St Knoxville, IL 61448

    Sponsored
    For Sale
    $1,000,000

    Turnkey Restaurant, Office Income, Huge Potential

    Property size:
    11,031 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    339
    This exceptional 11,031 square foot commercial property, situated on a 1.28-acre lot at 221 E Main Street in Knoxville, Illinois, presents a unique investment opportunity. The property currently houses a thriving, well-established restaurant renowned for its high-quality food and vibrant atmosphere. The restaurant boasts both indoor and outdoor dining spaces, including a remarkable covered outdoor Sound Garden capable of accommodating over 500 guests – ideal for live music, sporting events, and private functions. The fully equipped commercial kitchen includes a main kitchen, prep kitchen, bar, and ample dining areas, complemented by outdoor smokers. Adding to the investment appeal, two established office tenants generate immediate rental income. The current owners are offering a smooth transition, providing support to new ownership for up to three years. This turnkey operation offers a blend of established revenue streams and significant growth potential. A detailed inventory list is available upon request. This is a rare chance to acquire a well-regarded business and income-producing property in a desirable location. The asking price is $1,000,000.

    Property Features for 221 Main St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    11,031 SF
    Lot Size
    55,757 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    New American Funding ... Mortgage Lender Centsless Copper Collector Coin Dealer Sparkie's Auto & Custom Car Repair And Maintenance Service Big Catz BBQ Barbecue Restaurant

    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
    Knoxville
    County
    Knox
    State
    Illinois
    Longitude
    -90.2826
    Latitude
    40.90845

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    FAQs

    What type of property is this?
    Commercial real estate - Turnkey Restaurant, Office Income, Huge Potential
    Where is this commercial real estate located?
    The property is located at 221 Main St Knoxville, IL.
    What is the asking price?
    The asking price for this property is $1,000,000.
    Request Owner's contact information
    221 Main St Knoxville, IL 61448
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    Knoxville, IL 61448
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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
    221 Main St Knoxville, IL 61448
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