Downtown Restaurant with
201 N Broadway Ave Urbana, IL 61801
New
For Sale
$550,000
Turnkey restaurant space includes built-in seating, an art deco back bar, and a front patio for additional guests.
Days on Market5
Property Features for 201 N Broadway Ave
General Information
Standard status
Active
Property subtype
Other
Building Details
Year Built
1899
Listing Agency:
Coldwell Banker Commercial Real Estate Group
(815) 553-2406
Listed By:
Leah Erickson · License #475204597
Source:
Commercialcafe
Added: Jul 26
Changed: Jul 28
Last Checked: Jul 30 at 3:33AM
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 Coldwell Banker Commercial Real Estate Group
Investment Insights
Based on property information with market context.
This former restaurant property offers an existing, built-out dining layout with tall ceilings and seating for approximately 55 guests, including built-in booths, tables, and bar seating. A notable feature is the art deco back bar with a mahogany bartop. The front patio provides additional outdoor seating for 16 in warmer months.
Located in downtown Urbana, the site is described as having strong visibility along Broadway Avenue and proximity to key downtown anchors. The offering also includes a 15-space parking lot directly across the street.
The property is stated to have benefited from numerous recent upgrades and is represented as turnkey for the next operator. The property is within Urbana’s TIF and Enterprise Zone districts.
Located in downtown Urbana, the site is described as having strong visibility along Broadway Avenue and proximity to key downtown anchors. The offering also includes a 15-space parking lot directly across the street.
The property is stated to have benefited from numerous recent upgrades and is represented as turnkey for the next operator. The property is within Urbana’s TIF and Enterprise Zone districts.
Key Highlights
- 1899‑built former restaurant at 201 N Broadway Ave in downtown Urbana, IL.
- Existing restaurant layout with seating for approx. 55 guests: built‑in booths, tables, and bar seating.
- Art deco back bar with mahogany bartop.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $39.2k | $15.96 |
| − Vacancy | −$2.2k | −$0.89 |
| EGI | $37.0k | $15.07 |
| − OpEx | −$9.3k | −$3.77 |
| NOI | $27.8k | $11.30 |
2,458 SF · lease $15.96/SF/yr · vacancy 5.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$396.8K
$347.2K – $462.9K
NOI $27,775 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$511.4K
$447.5K – $596.6K
NOI $35,796 @ 7.0% cap · market cap 6.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turnkey restaurant space includes built-in seating, an art deco back bar, and a front patio for additional guests.
Where is this conventional restaurant located?
The property is located at 201 N Broadway Ave Urbana, 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: 1899‑built former restaurant at 201 N Broadway Ave in downtown Urbana, IL.; Existing restaurant layout with seating for approx. 55 guests: built‑in booths, tables, and bar seating.; Art deco back bar with mahogany bartop.
