Drive-Thru Restaurant
245 FARMDALE RD East Peoria, IL 61611
245 FARMDALE RD, East Peoria, IL, 61611
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For Sale
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Former QSR drive-thru building on a 1.06-acre lot with ample parking and strong visibility.
Property Size1,500 SF
Lot Size1.06 Acres
Price / SF$392.67
Days on Market84
Property Features for 245 FARMDALE RD
General Information
- Standard status
- Active
- Size
- 1,500 SF
- Lot size
- 1.06 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 2007
Listing agency
Berkshire Hathaway HomeServices Central Illinois Realtors
Listed by
John Keck · License #475.214697
Source
Crexi
Added: Apr 30 Updated: Jul 22 at 5:30PM Checked: Jul 22 at 5:30PM
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 Berkshire Hathaway HomeServices Central Illinois Realtors
Investment Insights
Based on property information with market context.
Former QSR drive-thru restaurant building totaling approximately 1,500 SF on a 1.06-acre lot in East Peoria. The site includes a drive-thru configuration and ample parking, creating a straightforward setup for food service concepts or other commercial uses.
Public remarks note strong visibility and good access along Farmdale Road, with Enterprise Zone incentives that include 100% property tax abatement on improvements for five years, sales tax abatement on building materials purchased in Illinois, and half-price building permits. The combination of site features and cost-saving incentives may be relevant for owner-users and investors evaluating redevelopment or re-tenanting.
The property is positioned to support retail, restaurant, service, or other commercial uses, subject to applicable approvals.
Public remarks note strong visibility and good access along Farmdale Road, with Enterprise Zone incentives that include 100% property tax abatement on improvements for five years, sales tax abatement on building materials purchased in Illinois, and half-price building permits. The combination of site features and cost-saving incentives may be relevant for owner-users and investors evaluating redevelopment or re-tenanting.
The property is positioned to support retail, restaurant, service, or other commercial uses, subject to applicable approvals.
Key Highlights
- Former QSR at 245 Farmdale Road in East Peoria on a 1.06‑acre lot
- Approximately 1,500 SF former drive‑thru building
- Ample parking on‑site
Local 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 | $25.6k | $17.04 |
| − Vacancy | −$1.6k | −$1.06 |
| EGI | $24.0k | $15.98 |
| − OpEx | −$6.0k | −$4.00 |
| NOI | $18.0k | $11.99 |
1,500 SF · lease $17.04/SF/yr · vacancy 6.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$256.9K
$224.8K – $299.7K
NOI $17,981 @ 7.0% cap · market cap 3.05%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.31M
$1.15M – $1.53M
NOI $91,853 @ 7.0% cap · market cap 15.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Drive through restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Drive through restaurant - Former QSR drive-thru building on a 1.06-acre lot with ample parking and strong visibility.
Where is this drive through restaurant located?
The property is located at 245 FARMDALE RD East Peoria, IL.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Former QSR at 245 Farmdale Road in East Peoria on a 1.06‑acre lot; Approximately 1,500 SF former drive‑thru building; Ample parking on‑site
