Downtown Restaurant with
For Sale
$550,000
201 N Broadway Ave, Urbana, IL 61801
Turnkey restaurant space includes built-in seating, an art deco back bar, and a front patio for additional guests.
Property Size2,458 SF
Days on Market96
Property Features for 201 N Broadway Ave
General Information
Standard status
Active
Size
2,458 SF
Total Parking Spaces
15
Property subtype
Other
Amenities
front patio
Building Details
Building Size
2,458 SF
Year Built
1899
Year Renovated
2020
Stories
1
Listing Agency:
Coldwell Banker Commercial Real Estate Group
Listed By:
Leah Erickson · License #475204597
(630) 844-2222
Source:
Commercialcafe
Added: Jul 26
Changed: Oct 26
Last Checked: Oct 28 at 5:08AM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$27,775
Cap Rate
5.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$555,500
$555.5K
Cap Rate 7%
$396,786
$396.8K
Cap Rate 9%
$308,611
$308.6K
Market Conditions
NOI Build-Up for 2,458 SF
Gross rent
$39.2K $15.96/SF
− Vacancy
−$2.2K −$0.89/SF
EGI
$37.0K $15.07/SF
− OpEx
−$9.3K −$3.77/SF
NOI
$27.8K $11.30/SF
Area
Champaign County, IL
Vacancy
5.60%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$555,500
Cap Rate 7%
$396,786
Cap Rate 9%
$308,611
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.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,196
Businesses Nearby
180k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 75%
Shops & Services 22%
Electronics 1%
Beauty & Spa 1%
McDonald's
Dining
33,155 visits/mo
0.3 miles
Culver's
Dining
21,130 visits/mo
0.1 miles
Starbucks
Dining
16,341 visits/mo
0.2 miles
Wendy's
Dining
15,665 visits/mo
0.3 miles
Panda Express
Dining
15,418 visits/mo
0.2 miles
Demographics for 61801, IL
27,658
Population
13,468
Households
2.1
Avg Household Size
26
Median Age
65%
College-Educated
98%
High-School Grad
5.4 sq mi
ZIP Area
5,122
Density / Sq Mi
$37,948
Median Household Income
$26,394
Median Earnings
$950
Median Rent
$184,000
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
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.
