Building Details

Building Size 5,334 SF

Buildings 1

Stories 1

Tenancy Single

Abandoned No

Listing Agency: TOWN & COUNTRY REALTY, LLP j***@gmail.com Show Phone

Listed By: Jeanette During · License #471001832

Source: Perillorealestategroup

Added: Aug 3 Changed: Aug 9 Last Checked: Aug 11 at 2:04PM

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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 TOWN & COUNTRY REALTY, LLP

Investment Insights

Based on property information with market context.

The property includes a 5,334-square-foot, single-story restaurant building with separate west and south customer entrances. Interior capacity includes approximately 44 seats in the main dining room, a 75-seat banquet room, and a bar area with seating for 34. Restaurant equipment and fixtures are included, along with a commercial kitchen configured for ongoing food-service operations.

The site encompasses just under one acre at 2203 County Road 3000 N in Gifford, Illinois. It is positioned directly across from Gordyville USA and east of Rantoul, providing convenient access for local customers and event-related traffic. On-site parking is available, and the property is zoned COMMR.

The restaurant was established in 1987, with the current owner operating it since 2013. The combination of dining, banquet, bar, and kitchen areas supports multiple service formats within one building.

Key Highlights

• 5,334‑square‑foot single‑story restaurant building
• Approximately 44 seats in the main dining room
• 75‑seat banquet room and bar seating for 34

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

$24,636

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

6.48%

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%

$492,720 $492.7K

Cap Rate 7%

$351,943 $351.9K

Cap Rate 9%

$273,733 $273.7K

Market Conditions

NOI Build-Up for 5,334 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

$37.1K $6.96/SF

− Vacancy

−$1.9K −$0.36/SF

EGI

$35.2K $6.60/SF

− OpEx

−$10.6K −$1.98/SF

NOI

$24.6K $4.62/SF

Area

Champaign County, IL

Vacancy

5.20%

Lease Rate

$6.96 /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%

$492,720

Cap Rate 7%

$351,943

Cap Rate 9%

$273,733

Alternative Uses

Best Use

Specialty Retail

$861.0K

$753.4K – $1.00M (±1% cap)

NOI $60,272 @ 7.0% cap · market cap 15.86%

Second Best

Industrial

$351.9K

$308.0K – $410.6K (±1% cap)

NOI $24,636 @ 7.0% cap · market cap 6.48%

Theoretical Best

Office A

$1.11M

$971.0K – $1.29M (±1% cap)

NOI $77,680 @ 7.0% cap · market cap 20.44%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Shazam Atm Atm

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom Electrical Service Restaurant

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

Single-tenant

Tenancy

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

6

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 61847, IL

1,188

Population

525

Households

2.3

Avg Household Size

46

Median Age

22%

College-Educated

96%

High-School Grad

33.5 sq mi

ZIP Area

35

Density / Sq Mi

$85,703

Median Household Income

$52,422

Median Earnings

$883

Median Rent

$178,300

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this conventional restaurants 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?

Conventional restaurant - Established restaurant property with banquet seating, bar service, commercial kitchen, and on-site parking near Gordyville USA.

Where is this conventional restaurant located?

The property is located at 2203 County Road 3000 N Gifford, IL.

What is the asking price?

The asking price for this property is $380,000.

What are key features of this property?

This property features: 5,334‑square‑foot single‑story restaurant building; Approximately 44 seats in the main dining room; 75‑seat banquet room and bar seating for 34