Irish Pub with Living
For Sale
$549,000
200 State Street, Alton, IL 62002
A three-level property pairs a furnished bar and dining room with private residential space above.
Property Size3,000 SF
Price / SF$183
Days on Market383
Property Features for 200 State Street
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Commercial
Site & Location
Corner Location
Yes
Mixed-Use Components
retail, residential
Restaurant
Seating Capacity
50
Equipment Included
Yes
Additional Details
Furnished
Yes
Business Included
Yes
Currently Operating
Yes
Taxes and HOA fees
Annual Taxes
$6,061
Building Details
Building Size
3,000 SF
Year Built
1825
Buildings
1
Stories
3
Listing Agency:
RE/MAX Alliance
(618) 656-2111
Listed By:
Nicole McCormick
(636) 279-0950
Source:
Flowershomerealty
Added: Oct 8, 2025
Changed: Oct 23
Last Checked: Oct 23 at 3:49PM
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 RE/MAX Alliance
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Investment Insights
Based on property information with market context.
Morrison's Irish Pub occupies approximately 3,000 square feet across three levels at 200 State Street in Alton. The main floor contains a furnished bar and dining area with seating for around 50, a custom-built bar, and a commercial kitchen. Exposed brick, woodwork, barnwood flooring, and Irish-themed decor are part of the interior. The sale includes furniture, fixtures, equipment, and branding, along with the operating pub business.
The second and third floors provide approximately 2,000 square feet of living space with a separate entrance. The layout includes two bedrooms, 2.5 bathrooms, a full kitchen, dining area, and living room. Built in 1825, the property combines pub and residential space within one three-level building.
The second and third floors provide approximately 2,000 square feet of living space with a separate entrance. The layout includes two bedrooms, 2.5 bathrooms, a full kitchen, dining area, and living room. Built in 1825, the property combines pub and residential space within one three-level building.
Key Highlights
- Operating Irish pub business with furniture, fixtures, equipment, and branding included
- Approximately 3,000 square feet across three levels
- Main‑floor bar and dining area seats around 50; commercial kitchen and custom‑built bar
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,580
Cap Rate
6.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$711,600
$711.6K
Cap Rate 7%
$508,286
$508.3K
Cap Rate 9%
$395,333
$395.3K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$51.1K $17.04/SF
− Vacancy
−$3.7K −$1.23/SF
EGI
$47.4K $15.81/SF
− OpEx
−$11.9K −$3.95/SF
NOI
$35.6K $11.86/SF
Area
Madison County, IL
Vacancy
7.20%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$711,600
Cap Rate 7%
$508,286
Cap Rate 9%
$395,333
Alternative Uses
Best Use
Specialty Retail
$508.3K
$444.8K – $593.0K
NOI $35,580 @ 7.0% cap · market cap 6.48%
Second Best
Mixed Use
$418.5K
$366.2K – $488.3K
NOI $29,295 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$817.7K
$715.5K – $954.0K
NOI $57,240 @ 7.0% cap · market cap 10.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
690
Businesses Nearby
3k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Morrison's Irish Pub
Dining
2,177 visits/mo
0.1 miles
Ragin Cajun
Dining
814 visits/mo
0.1 miles
Demographics for 62002, IL
30,176
Population
14,832
Households
2
Avg Household Size
41
Median Age
24%
College-Educated
92%
High-School Grad
41.3 sq mi
ZIP Area
731
Density / Sq Mi
$57,851
Median Household Income
$38,120
Median Earnings
$941
Median Rent
$114,300
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
Similar Off Market Nearby
- Hiram's Bar — 219 W 3rd St, Alton, IL 62002
- Bentley's Bar & Grill — 204 State St, Alton, IL 62002
- Copper Bar at State Street Market — 206-212 State St, Alton, IL 62002
- Bossanova — 112 W 3rd St, Alton, IL 62002
- Cat Daddy's Tavern — 203 W 3rd St, Alton, IL 62002
Frequently Asked Questions
What type of property is this?
Bar & Pub - A three-level property pairs a furnished bar and dining room with private residential space above.
Where is this bar & pub located?
The property is located at 200 State Street Alton, IL.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Operating Irish pub business with furniture, fixtures, equipment, and branding included; Approximately 3,000 square feet across three levels; Main‑floor bar and dining area seats around 50; commercial kitchen and custom‑built bar
