Renovated Restaurant With
For Sale
$699,900
25 E Adams St, Morton, IL 61550
Restaurant layout includes a bar, dining areas, carryout window, commercial kitchen, patio, sprinklers, and security system.
Property Size4,084 SF
Price / SF$171.38
Days on Market229
Property Features for 25 E Adams St
General Information
Standard status
Active
Size
4,084 SF
Class
A
Property subtype
Restaurant
Restaurant
Patio
Yes
Equipment Included
Yes
Additional Details
Sprinkler System
Yes
Building Details
Building Size
4,084 SF
Year Built
2019
Year Renovated
2020
Properties For Sale
at 25 E Adams St
Unit
Size
4,084 SF
Lease Type
NNN
Listing Agency:
Joseph & Camper Commercial
Listed By:
Will Hayes · License #475122056
(309) 691-5919
Source:
Thebrokerlist
Added: Feb 18
Changed: Sep 10
Last Checked: Oct 4 at 6:16AM
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 Joseph & Camper Commercial
Investment Insights
Based on property information with market context.
This 4,084-square-foot conventional restaurant occupies a historic blacksmith shop structure that underwent renovation in 2020. The interior includes a greeting area, front dining room with bar, additional central space suited to dining or entertainment, a side carryout window, and a commercial kitchen with equipment in place. A concrete patio extends the customer area outdoors.
The building is sprinklered throughout and includes a security system. Its central section can accommodate additional dining or entertainment configurations, including concepts such as golf simulators or axe throwing. The property may be acquired individually or as part of a package with the adjacent building, subject to a mutually agreeable shared parking arrangement.
The building is sprinklered throughout and includes a security system. Its central section can accommodate additional dining or entertainment configurations, including concepts such as golf simulators or axe throwing. The property may be acquired individually or as part of a package with the adjacent building, subject to a mutually agreeable shared parking arrangement.
Key Highlights
- 4,084 SF restaurant and bar facility
- Renovated in 2020 within a historic blacksmith shop structure
- Front dining room, bar, central activity area, carryout window, and rear kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,729
Cap Rate
6.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$854,580
$854.6K
Cap Rate 7%
$610,414
$610.4K
Cap Rate 9%
$474,767
$474.8K
Market Conditions
NOI Build-Up for 4,084 SF
Gross rent
$61.3K $15.00/SF
− Vacancy
−$4.3K −$1.05/SF
EGI
$57.0K $13.95/SF
− OpEx
−$14.2K −$3.49/SF
NOI
$42.7K $10.46/SF
Area
Tazewell County, IL
Vacancy
7.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$854,580
Cap Rate 7%
$610,414
Cap Rate 9%
$474,767
Alternative Uses
Best Use
Specialty Retail
$610.4K
$534.1K – $712.2K
NOI $42,729 @ 7.0% cap · market cap 6.11%
Second Best
Industrial
$375.1K
$328.2K – $437.7K
NOI $26,259 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$1.60M
$1.40M – $1.86M
NOI $111,870 @ 7.0% cap · market cap 15.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
666
Businesses Nearby
31k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 81%
Dining 19%
Circle K
Shops & Services
9,709 visits/mo
0.3 miles
Dollar General
Shops & Services
5,598 visits/mo
0.3 miles
Circle K
Shops & Services
5,324 visits/mo
0.5 miles
Jimmy John's
Dining
4,828 visits/mo
0.4 miles
PNC Bank
Shops & Services
2,985 visits/mo
0.1 miles
Demographics for 61550, IL
18,488
Population
8,053
Households
2.3
Avg Household Size
42
Median Age
40%
College-Educated
97%
High-School Grad
41.2 sq mi
ZIP Area
449
Density / Sq Mi
$92,269
Median Household Income
$48,692
Median Earnings
$1,001
Median Rent
$247,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- Lin Buffet — 756 W Jackson St, Morton, IL 61550
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant layout includes a bar, dining areas, carryout window, commercial kitchen, patio, sprinklers, and security system.
Where is this conventional restaurant located?
The property is located at 25 E Adams St Morton, IL.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 4,084 SF restaurant and bar facility; Renovated in 2020 within a historic blacksmith shop structure; Front dining room, bar, central activity area, carryout window, and rear kitchen
