Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    401 Limit Street Lincoln, IL 62656

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Thriving bar with party room, outdoor area, and loyal customers.

    Type:Hospitality
    Property size:
    2,220 SF
    Added:
    Sep 24, 2024
    Days on Market:
    571
    Last Refresh:
    Mar 17 at 1:13 pm

    Property Features for 401 Limit Street

    General Information

    Standard status
    Active
    Size
    2,220 SF
    Property subtype
    Hospitality

    We can help!

    Listing Contact
    Gina Mudge

    Listing agent Gina Mudge License #475.211625

    Listing office Coldwell Banker Commercial Real Estate Group

    Listing date Sep 24, 2024

    Source Crexi

    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

    Overview

    Turn-Key Bar in Lincoln, IL

    This is a turn-key, well-established bar located in Lincoln, IL. The property features a party room suitable for private events and gatherings, as well as an outdoor area for socializing. The bar includes both a wet and dry bar setup, along with two storage areas and updated restrooms. The interior design is fresh, and the business benefits from a loyal customer base. The property size is 2220 square feet. The bar offers a fun atmosphere with practical amenities, providing a strong foundation and growth potential. This venue is suited for experienced operators or entrepreneurs.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Lucky Dog Bar & Pub

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Copper & Oak Bourbon & Craft Beer Bar — 227 N Kickapoo St, Lincoln, IL 62656
    • Idle Hour Inn — 404 Broadway St, Lincoln, IL 62656
    • Lucky Dog — 401 Limit St, Lincoln, IL 62656
    • Spirited Republic/Limerick Brewing Company — 509B Pulaski St, Lincoln, IL 62656
    • Chances R — 421 N Chicago St, Lincoln, IL 62656

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln
    County
    Logan
    State
    Illinois
    Longitude
    -89.3491855
    Latitude
    40.1448733

    Nearby Similar for Sale

    • $299,900

      Equipped Restaurant and Bar Venue

      Spacious, equipped restaurant/bar with event capabilities and outdoor beer garden.
      1230 5TH Street, Lincoln, IL 62656
      View Details
    • $99,900

      Downtown Lincoln Commercial Opportunity

      Prime downtown location with retail and office space.
      616 BROADWAY Street, Lincoln, IL 62656
      View Details
    • $1,295,000
      33,986 SF

      Lincoln Office/Warehouse on 8 Acres

      33,986 SF office/warehouse on 8.06 acres with outdoor storage.
      1304 Woodlawn Rd, Lincoln, IL
      View Details
    • $250,000
      2,220 SF

      Turn-Key Bar in Lincoln, IL

      Thriving bar with party room and outdoor area for sale.
      401 Limit Street, Lincoln, IL 62656
      View Details
    • $250,000

      Turn-Key Bar in Lincoln, IL

      Thriving bar with party room and outdoor area for sale.
      401 Limit Street, Lincoln, IL 62656
      View Details
    • $99,900
      9,351 SF

      Downtown Retail/Office Space For Sale

      9,000+ sq ft retail/office space in prime downtown location.
      616 Broadway St, Lincoln, IL 62656
      View Details
    • $4,250,000

      Lincoln, IL Commercial Building

      247,000 sq ft building with docks and drive-ins.
      1119 N Kickapoo Street, Lincoln, IL 62656
      View Details
    • $345,500
      4,120 SF

      Lincoln, IL Office Investment Property

      Third-floor business condo in downtown Lincoln, fully leased until 2029.
      529 Pulaski St, Lincoln, IL
      View Details
    • $250,000
      2,220 SF

      Turn-Key Bar in Lincoln, IL

      Thriving bar with party room and outdoor area for sale.
      401 Limit St, Lincoln, IL 62656
      View Details
    • $4,250,000
      247,000 SF

      247,000 SF Building in Lincoln

      Well-maintained 247,000 SF building with docks and drive-ins.
      1119 N Kickapoo Street, Lincoln, IL 62656
      View Details
    • $345,500
      4,120 SF

      Office

      206 S McLean St, Lincoln, IL 62656
      View Details

    FAQs

    What type of property is this?
    Bar & Pub - Thriving bar with party room, outdoor area, and loyal customers.
    Where is this bar & pub located?
    The property is located at 401 Limit Street Lincoln, IL.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: Turn‑key, thriving bar business with established customer base.; Prime location in Lincoln, IL.; Party room for private events and gatherings.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Gina Mudge
    Real Estate License ID: 475.211625
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!