Bar Property with Included
For Sale
$399,900
114-118 Argentina Ave, Bartonville, IL 61607
Established bar with a garage, gaming machines, and dedicated areas for dart and pool leagues.
Property Size1,793 SF
Price / SF$223.03
Days on Market117
Property Features for 114-118 Argentina Ave
General Information
Standard status
Active
Size
1,793 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Road Access
Yes
Building Details
Year Built
1950
Listing Agency:
Coldwell Banker Real Estate Group
Listed By:
Kelly Rupp (ruppgroup.realestate@gmail.com) · License #471016821
(309) 256-0311
Source:
Searchillinoishomesforsale
Added: Jun 2
Changed: Sep 9
Last Checked: Sep 26 at 7:24AM
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 Real Estate Group
Investment Insights
Based on property information with market context.
This established bar property includes the building, garage, furniture, fixtures, and equipment. The interior supports dart and pool leagues and includes gaming machines, with a spacious layout that allows seating flexibility near the dart area. Numerous updates have been completed, and the property was built in 1950.
Located at 114-118 Argentina Avenue in Bartonville, the property fronts Route 24 and sits across from a large employer. Commercial zoning supports its current bar use. The included FF&E and on-site garage provide a substantial operating package for a new owner.
Located at 114-118 Argentina Avenue in Bartonville, the property fronts Route 24 and sits across from a large employer. Commercial zoning supports its current bar use. The included FF&E and on-site garage provide a substantial operating package for a new owner.
Key Highlights
- Building, garage, furniture, fixtures, and equipment included
- Dart and pool league areas with gaming machines
- Numerous property updates completed
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
$21,494
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
5.37%
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%
$429,880
$429.9K
Cap Rate 7%
$307,057
$307.1K
Cap Rate 9%
$238,822
$238.8K
Market Conditions
NOI Build-Up for 1,793 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
$30.6K $17.04/SF
− Vacancy
−$1.9K −$1.06/SF
EGI
$28.7K $15.98/SF
− OpEx
−$7.2K −$4.00/SF
NOI
$21.5K $11.99/SF
Area
Peoria County, IL
Vacancy
6.20%
Lease Rate
$17.04 /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%
$429,880
Cap Rate 7%
$307,057
Cap Rate 9%
$238,822
Alternative Uses
Best Use
Specialty Retail
$307.1K
$268.7K – $358.2K
NOI $21,494 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.57M
$1.37M – $1.83M
NOI $109,795 @ 7.0% cap · market cap 27.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
233
Businesses Nearby
10k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Mobil
Shops & Services
10,230 visits/mo
0.4 miles
Demographics for 61607, IL
10,353
Population
4,887
Households
2.1
Avg Household Size
45
Median Age
25%
College-Educated
96%
High-School Grad
33.6 sq mi
ZIP Area
308
Density / Sq Mi
$75,845
Median Household Income
$51,691
Median Earnings
$1,014
Median Rent
$155,200
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.
Similar Off Market Nearby
- Backroads Saloon — 4208 W Pfeiffer Rd, Bartonville, IL 61607
- B.G. Karaoke Saloon — 4202 W Pfeiffer Rd, Bartonville, IL 61607
- Shot Spot Pub — 118 Argentina Ave, Bartonville, IL 61607
- Peacocks Pub — 5603 S Adams St, Bartonville, IL 61607
- Hammer's Bar & Restaurant — 103 Roosevelt St, Bartonville, IL 61607
Frequently Asked Questions
What type of property is this?
Bar & Pub - Established bar with a garage, gaming machines, and dedicated areas for dart and pool leagues.
Where is this bar & pub located?
The property is located at 114-118 Argentina Ave Bartonville, IL.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Building, garage, furniture, fixtures, and equipment included; Dart and pool league areas with gaming machines; Numerous property updates completed
