Turn-Key Restaurant
For Sale
Contact for pricing
1700 Fredrick Ln, Normal, IL 61761
For sale in a high-visibility retail area near interstates, offered as a turn-key restaurant business.
Property Size1,883 SF
Price / SF$292.09
Days on Market107
Property Features for 1700 Fredrick Ln
General Information
Standard status
Active
Size
1,883 SF
Property subtype
RETAIL
Listing Agency:
SVN | Core 3
(217) 722-3584
Listed By:
Jill Spratt · License #471022624
(217) 722-3584
Source:
Moodyscre
Added: May 4
Changed: Aug 16
Last Checked: Aug 16 at 9:27AM
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 SVN | Core 3
Investment Insights
Based on property information with market context.
This for-sale restaurant business is presented as turn-key, positioned within a high-visibility retail area. The offering is designed for an operator seeking an established restaurant setup rather than starting from scratch.
Located at 1700 Fredrick Ln in Normal, IL 61761, the property is described as being in close proximity to interstates, supporting straightforward access for staff and customers.
The seller indicates the property size is 1,883 square feet. Interested parties are encouraged to review the full offering details for specifics on the restaurant’s layout, equipment, and included operations.
Located at 1700 Fredrick Ln in Normal, IL 61761, the property is described as being in close proximity to interstates, supporting straightforward access for staff and customers.
The seller indicates the property size is 1,883 square feet. Interested parties are encouraged to review the full offering details for specifics on the restaurant’s layout, equipment, and included operations.
Key Highlights
- Offered as a turn‑key restaurant business in a retail area near interstates.
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
$23,209
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
4.22%
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%
$464,180
$464.2K
Cap Rate 7%
$331,557
$331.6K
Cap Rate 9%
$257,878
$257.9K
Market Conditions
NOI Build-Up for 1,883 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
$33.9K $18.00/SF
− Vacancy
−$2.9K −$1.57/SF
EGI
$30.9K $16.43/SF
− OpEx
−$7.7K −$4.11/SF
NOI
$23.2K $12.33/SF
Area
McLean County, IL
Vacancy
8.70%
Lease Rate
$18.00 /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%
$464,180
Cap Rate 7%
$331,557
Cap Rate 9%
$257,878
Alternative Uses
Best Use
Specialty Retail
$331.6K
$290.1K – $386.8K
NOI $23,209 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$392.5K
$343.5K – $458.0K
NOI $27,477 @ 7.0% cap · market cap 5.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
320
Businesses Nearby
205k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 49%
Shops & Services 27%
Groceries 11%
Leisure 7%
McDonald's
Dining
25,400 visits/mo
0.3 miles
Schnucks
Groceries
21,670 visits/mo
0.2 miles
Circle K
Shops & Services
20,973 visits/mo
0.1 miles
Starbucks
Dining
18,207 visits/mo
0.1 miles
Dunkin' Donuts
Dining
16,241 visits/mo
0.3 miles
Demographics for 61761, IL
53,045
Population
22,037
Households
2.4
Avg Household Size
28
Median Age
52%
College-Educated
98%
High-School Grad
42.6 sq mi
ZIP Area
1,245
Density / Sq Mi
$66,642
Median Household Income
$28,606
Median Earnings
$976
Median Rent
$200,900
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?
Conventional restaurant - For sale in a high-visibility retail area near interstates, offered as a turn-key restaurant business.
Where is this conventional restaurant located?
The property is located at 1700 Fredrick Ln Normal, IL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Offered as a turn‑key restaurant business in a retail area near interstates.
