Logan's Roadhouse
For Sale
Contact for pricing
240 Conference Center Dr, East Peoria, IL 61611
Commercially zoned restaurant property with an established operating profile.
Property Size7,268 SF
Price / SF$170.27
Days on Market145
Property Features for 240 Conference Center Dr
General Information
Standard status
Active
Size
7,268 SF
Property subtype
Retail
Zoning
Commercial
Occupancy
100%
Investment Type
Net Lease
Net Operating Income
$99,000
Additional Details
Cap Rate
8%
Building Details
Year Built
2007
Buildings
1
Tenancy
Single
Listing Agency:
Marcus & Millichap - Austin
(512) 338-7872
Listed By:
Douglas Diffie · License #TX 656858
Source:
Crexi
Added: Apr 8
Changed: Aug 29
Last Checked: Aug 29 at 7:39PM
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 Marcus & Millichap - Austin
Investment Insights
Based on property information with market context.
Logan's Roadhouse is a 7,268-square-foot restaurant property in East Peoria, Illinois. Constructed in 2007, the building is identified for restaurant use and carries Commercial zoning.
The property is located at 240 Conference Center Dr and is associated with an 8.00% CAP and a 20+ year operator. Its existing restaurant configuration and established operating history provide a defined commercial asset profile.
The property is located at 240 Conference Center Dr and is associated with an 8.00% CAP and a 20+ year operator. Its existing restaurant configuration and established operating history provide a defined commercial asset profile.
Key Highlights
- 7,268‑square‑foot restaurant property
- Logan's Roadhouse restaurant identity
- Constructed in 2007
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
$87,126
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
7.04%
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%
$1,742,520
$1.7M
Cap Rate 7%
$1,244,657
$1.2M
Cap Rate 9%
$968,067
$968.1K
Market Conditions
NOI Build-Up for 7,268 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
$123.8K $17.04/SF
− Vacancy
−$7.7K −$1.06/SF
EGI
$116.2K $15.98/SF
− OpEx
−$29.0K −$4.00/SF
NOI
$87.1K $11.99/SF
Area
Peoria County, IL
Vacancy
6.20%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
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%
$1,742,520
Cap Rate 7%
$1,244,657
Cap Rate 9%
$968,067
Alternative Uses
Best Use
Specialty Retail
$1.24M
$1.09M – $1.45M
NOI $87,126 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$6.36M
$5.56M – $7.42M
NOI $445,058 @ 7.0% cap · market cap 35.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
934
Businesses Nearby
314k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 34%
Dining 28%
Shops & Services 18%
Home Improvements & Furnishings 12%
Walmart
Superstores
107,356 visits/mo
0.5 miles
Lowe's
Home Improvements & Furnishings
37,033 visits/mo
0.4 miles
Huck's
Shops & Services
31,928 visits/mo
0.2 miles
Culver's
Dining
31,583 visits/mo
0.2 miles
PetSmart
Shops & Services
23,824 visits/mo
0.3 miles
Demographics for 61611, IL
23,837
Population
11,207
Households
2.1
Avg Household Size
44
Median Age
26%
College-Educated
93%
High-School Grad
41.0 sq mi
ZIP Area
581
Density / Sq Mi
$76,329
Median Household Income
$44,586
Median Earnings
$942
Median Rent
$162,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Commercially zoned restaurant property with an established operating profile.
Where is this conventional restaurant located?
The property is located at 240 Conference Center Dr East Peoria, IL.
What is the asking price?
The asking price for this property is $1,237,500.
What are key features of this property?
This property features: 7,268‑square‑foot restaurant property; Logan's Roadhouse restaurant identity; Constructed in 2007
