Building Details

Building Size 3,664 SF

Year Built 2001

Stories 1

Listing Agency: Coldwell Banker DHH Realty r***@hotmail.com

Listed By: RAE HANNA · License #471022335 Show Phone

Source: Fishmangroup

Added: Sep 24 Changed: Oct 23 Last Checked: Oct 23 at 1:24PM

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Investment Insights

Based on property information with market context.

This mixed-use property near Ava includes an operating saloon and a modular home used as a short-term rental and hunting cabin. The saloon, built in 2017 according to the remarks, contains 3,664 square feet of indoor space, two bathrooms, a walk-in cooler, video gaming, and a 17-by-71-foot porch. A separate 55-by-23-foot storage area and boat storage are also on site, along with ample parking. The home has more than 2,400 square feet, three bedrooms with potential for five, three bathrooms, a recreation room, and a two-car garage; the owner may include furnishings. Heating and air-conditioning systems in both buildings were replaced in 2020.

The property spans approximately 15 acres in the rural community near Ava. Paul Ice boat ramp at Kinkaid Lake is approximately nine miles away. A neighbor maintains a hayfield on the property.

Key Highlights

• Approximately 15 acres near Ava, Illinois
• Operating saloon with 3,664 square feet of indoor space
• 17‑by‑71‑foot porch and 55‑by‑23‑foot storage area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,446

Cap Rate

6.32%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$568,920 $568.9K

Cap Rate 7%

$406,371 $406.4K

Cap Rate 9%

$316,067 $316.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,664 SF

Gross rent

$56.3K $15.36/SF

− Vacancy

−$4.6K −$1.24/SF

EGI

$51.7K $14.12/SF

− OpEx

−$23.3K −$6.35/SF

NOI

$28.4K $7.76/SF

Area

Jackson County, IL

Vacancy

8.10%

Lease Rate

$15.36 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$568,920

Cap Rate 7%

$406,371

Cap Rate 9%

$316,067

Alternative Uses

Best Use

Specialty Retail

$695.0K

$608.1K – $810.8K (±1% cap)

NOI $48,650 @ 7.0% cap · market cap 10.81%

Second Best

Apartment 5plus

$406.4K

$355.6K – $474.1K (±1% cap)

NOI $28,446 @ 7.0% cap · market cap 6.32%

Theoretical Best

Office A

$998.7K

$873.9K – $1.17M (±1% cap)

NOI $69,909 @ 7.0% cap · market cap 15.54%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Bars & Pubs

Suggested Use

Top Pick Bar & Pub

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1

Businesses Nearby

Explore this area Business Placement

Demographics for 62907, IL

2,120

Population

859

Households

2.5

Avg Household Size

43

Median Age

19%

College-Educated

87%

High-School Grad

94.2 sq mi

ZIP Area

23

Density / Sq Mi

$73,300

Median Household Income

$48,060

Median Earnings

$703

Median Rent

$179,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - An operating saloon and a short-term rental home occupy a rural property near Ava.

Where is this mixed-use property located?

The property is located at 405 S Mcbride Road Ava, IL.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: Approximately 15 acres near Ava, Illinois; Operating saloon with 3,664 square feet of indoor space; 17‑by‑71‑foot porch and 55‑by‑23‑foot storage area