Building Details

Year Built 2016

Year Renovated 2023

Buildings 1

Stories 2

Listing Agency: Barbermurphy Group k***@barbermurphy.com Show Phone

Listed By: Katie Bush · License #IL 475209285

Source: Crexi

Added: Apr 14 Changed: Aug 29 Last Checked: Apr 24 at 10:10PM

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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 Barbermurphy Group

Investment Insights

Based on property information with market context.

This 19,000-square-foot, two-level brewery and entertainment property includes a 4,500-square-foot attached lean-to beer garden, banquet facilities, a concert stage, commercial kitchen, and three furnished short-term rental suites. The 6,300-square-foot banquet hall is licensed for up to 299 guests and features 12-foot ceilings, a 32-foot Brazilian granite bar, and direct access to the kitchen. Brewing and hospitality improvements include a 10 BBL direct-fire brewhouse, 20-tap and 14-tap towers, a 44-foot custom copper bar, commercial cooking equipment, and a 32-foot by 15-foot walk-in cooler.

The concert venue includes a 12-foot by 28-foot permanent stage, Midas M32 digital mixing console, eight-box line array sound system, and DMX-controlled stage lighting with iPad controls. Additional property infrastructure includes 800-amp, 3-phase electrical service, a 10-foot by 10-foot recessed loading dock, ADA-compliant restrooms, and 200 LED-lit parking spaces. The 7.37-acre property is located at 18967 N Hwy 51 in Elkville, Illinois, along IL Route 51 between the Du Quoin and Carbondale markets.

Key Highlights

• 19,000 SF brewery and entertainment facility on 7.37 acres
• 6,300 SF banquet hall licensed for up to 299 guests
• 4,500 SF attached lean‑to beer garden

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

$113,331

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

6.31%

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%

$2,266,620 $2.3M

Cap Rate 7%

$1,619,014 $1.6M

Cap Rate 9%

$1,259,233 $1.3M

Market Conditions

NOI Build-Up for 23,500 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

$174.8K $7.44/SF

− Vacancy

−$12.9K −$0.55/SF

EGI

$161.9K $6.89/SF

− OpEx

−$48.6K −$2.07/SF

NOI

$113.3K $4.82/SF

Area

Jackson County, IL

Vacancy

7.40%

Lease Rate

$7.44 /SF/Yr

Expense Ratio

30.00%

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%

$2,266,620

Cap Rate 7%

$1,619,014

Cap Rate 9%

$1,259,233

Alternative Uses

Best Use

Apartment 5plus

$2.61M

$2.28M – $3.04M (±1% cap)

NOI $182,447 @ 7.0% cap · market cap 10.16%

Second Best

Industrial

$1.62M

$1.42M – $1.89M (±1% cap)

NOI $113,331 @ 7.0% cap · market cap 6.31%

Theoretical Best

Office A

$6.41M

$5.60M – $7.47M (±1% cap)

NOI $448,380 @ 7.0% cap · market cap 24.98%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Breweries

Suggested Use

Top Pick Parking Lot & Garage Auto Repair Shop Hair Salon Computer & Electronic Repair Nail Salon Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Dock-high doors

Turnkey business

Opportunity

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

21

Businesses Nearby

Explore this area Business Placement

Demographics for 62932, IL

1,451

Population

599

Households

2.4

Avg Household Size

44

Median Age

11%

College-Educated

82%

High-School Grad

40.5 sq mi

ZIP Area

36

Density / Sq Mi

$45,050

Median Household Income

$28,259

Median Earnings

$734

Median Rent

$81,300

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this breweries located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Brewery - Includes a banquet hall, beer garden, commercial kitchen, and furnished short-term rental suites.

Where is this brewery located?

The property is located at 18967 US-51 Elkville, IL.

What is the asking price?

The asking price for this property is $1,795,000.

What are key features of this property?

This property features: 19,000 SF brewery and entertainment facility on 7.37 acres; 6,300 SF banquet hall licensed for up to 299 guests; 4,500 SF attached lean‑to beer garden