Renovated Restaurant With
For Sale
$699,900
25 E Adams St, Morton, IL 61550
Restaurant layout includes a bar, dining areas, carryout window, commercial kitchen, patio, sprinklers, and security system.
Property Size4,084 SF
Price / SF$171.38
Days on Market193
Property Features for 25 E Adams St
General Information
Standard status
Active
Size
4,084 SF
Class
A
Property subtype
Restaurant
Restaurant
Patio
Yes
Equipment Included
Yes
Additional Details
Sprinkler System
Yes
Building Details
Building Size
4,084 SF
Year Built
2019
Year Renovated
2020
Properties For Sale
at 25 E Adams St Contact us- Size
- 4,084 SF
- Lease Type
- NNN
Unit
Listing Agency:
Joseph & Camper Commercial
(309) 691-5919
Listed By:
Will Hayes · License #475122056
(309) 691-5919
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 6:33AM
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 Joseph & Camper Commercial
Investment Insights
Based on property information with market context.
This 4,084-square-foot conventional restaurant occupies a historic blacksmith shop structure that underwent renovation in 2020. The interior includes a greeting area, front dining room with bar, additional central space suited to dining or entertainment, a side carryout window, and a commercial kitchen with equipment in place. A concrete patio extends the customer area outdoors.
The building is sprinklered throughout and includes a security system. Its central section can accommodate additional dining or entertainment configurations, including concepts such as golf simulators or axe throwing. The property may be acquired individually or as part of a package with the adjacent building, subject to a mutually agreeable shared parking arrangement.
The building is sprinklered throughout and includes a security system. Its central section can accommodate additional dining or entertainment configurations, including concepts such as golf simulators or axe throwing. The property may be acquired individually or as part of a package with the adjacent building, subject to a mutually agreeable shared parking arrangement.
Key Highlights
- 4,084 SF restaurant and bar facility
- Renovated in 2020 within a historic blacksmith shop structure
- Front dining room, bar, central activity area, carryout window, and rear kitchen
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
$42,729
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
6.11%
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%
$854,580
$854.6K
Cap Rate 7%
$610,414
$610.4K
Cap Rate 9%
$474,767
$474.8K
Market Conditions
NOI Build-Up for 4,084 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
$61.3K $15.00/SF
− Vacancy
−$4.3K −$1.05/SF
EGI
$57.0K $13.95/SF
− OpEx
−$14.2K −$3.49/SF
NOI
$42.7K $10.46/SF
Area
Tazewell County, IL
Vacancy
7.00%
Lease Rate
$15.00 /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%
$854,580
Cap Rate 7%
$610,414
Cap Rate 9%
$474,767
Alternative Uses
Best Use
Specialty Retail
$610.4K
$534.1K – $712.2K
NOI $42,729 @ 7.0% cap · market cap 6.11%
Second Best
Industrial
$375.1K
$328.2K – $437.7K
NOI $26,259 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$1.60M
$1.40M – $1.86M
NOI $111,870 @ 7.0% cap · market cap 15.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
666
Businesses Nearby
31k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 81%
Dining 19%
Circle K
Shops & Services
9,709 visits/mo
0.3 miles
Dollar General
Shops & Services
5,598 visits/mo
0.3 miles
Circle K
Shops & Services
5,324 visits/mo
0.5 miles
Jimmy John's
Dining
4,828 visits/mo
0.4 miles
PNC Bank
Shops & Services
2,985 visits/mo
0.1 miles
Demographics for 61550, IL
18,488
Population
8,053
Households
2.3
Avg Household Size
42
Median Age
40%
College-Educated
97%
High-School Grad
41.2 sq mi
ZIP Area
449
Density / Sq Mi
$92,269
Median Household Income
$48,692
Median Earnings
$1,001
Median Rent
$247,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant layout includes a bar, dining areas, carryout window, commercial kitchen, patio, sprinklers, and security system.
Where is this conventional restaurant located?
The property is located at 25 E Adams St Morton, IL.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 4,084 SF restaurant and bar facility; Renovated in 2020 within a historic blacksmith shop structure; Front dining room, bar, central activity area, carryout window, and rear kitchen
