Three-Level Irish Pub with Living
200 State Street, Alton, IL 62002
For Sale
$499,900
Commercial Sale, Alton, IL
Property Size3,000 SF
Lot Size0.03 Acres
Price / SF$166.63
Days on Market80
Property Features for 200 State Street
General Information
Property type
Property subtype
Security features
Subdivision
Standard status
APN
Lot size
Tenancy & Operations
Currently Operating
Business Included
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Flooring type
Building materials
Buildings
Listing Agency:
RE/MAX Alliance · RE/MAX International
(618) 656-2111
Listed By:
Nicole McCormick
(636) 279-0950
Added: Aug 24
Changed: Nov 4
Last Checked: Nov 11 at 8:06PM
MLS# 25064790
Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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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 is arranged for bar and restaurant service, with seating for around 50 guests, a custom bar, 12 beer taps, full-bar setup, commercial kitchen, furniture, fixtures, equipment, and branding included. Exposed brick, handcrafted woodwork, barnwood flooring, and Irish-themed décor define the customer-facing space.
The second and third floors provide approximately 2,000 square feet of private living space with a separate entrance. This upper-level area includes 2 bedrooms, 2.5 bathrooms, a full kitchen, dining area, and living room. The building dates to 1825 and has public water service, electric heating, central air, and additional wall or window cooling units.
The second and third floors provide approximately 2,000 square feet of private living space with a separate entrance. This upper-level area includes 2 bedrooms, 2.5 bathrooms, a full kitchen, dining area, and living room. The building dates to 1825 and has public water service, electric heating, central air, and additional wall or window cooling units.
Key Highlights
- Approximately 3,000 square feet across three levels
- Main floor seats around 50 guests and includes a commercial kitchen
- 12 beer taps, custom bar, and full‑bar setup
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,580
Cap Rate
7.12%
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 7.12%
Second Best
Mixed Use
$418.5K
$366.2K – $488.3K
NOI $29,295 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$817.7K
$715.5K – $954.0K
NOI $57,240 @ 7.0% cap · market cap 11.45%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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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
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Market
Properties on Market for Bars & Pubs in Madison County
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 - Operating bar and dining venue with a commercial kitchen, furnished guest area, and private upper-level quarters.
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 $499,900.
What are key features of this property?
This property features: Approximately 3,000 square feet across three levels; Main floor seats around 50 guests and includes a commercial kitchen; 12 beer taps, custom bar, and full‑bar setup
