Restaurant Building with Banquet
4538 N Prospect Rd Peoria Heights, IL 61616
4538 N Prospect Rd, Peoria Heights, IL, 61616
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For Sale
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Remodeled restaurant in Peoria Heights with commercial hood, walk-in, and dining plus banquet and lounge areas.
Property Size5,866 SF
Price / SF$170.46
Days on Market65
Property Features for 4538 N Prospect Rd
General Information
- Standard status
- Active
- Size
- 5,866 SF
- Property subtype
- RETAIL
Properties For Sale
at 4538 N Prospect Rd Contact us
Listing agency
Joseph & Camper Commercial
(309) 550-0139
Listed by
Steve Reeves
(309) 550-0139
Source
Moodyscre
Added: May 19 Updated: Jul 20 at 8:20PM Checked: Jul 21 at 3:12AM
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 restaurant building is set up for full foodservice operations, with back-of-house improvements including a commercial hood and walk-in, a dry stock area, and a locking liquor/security room. Additional back-of-house features include a dedicated dish area, a manager’s office, three bathrooms, and two back-of-house point(s) of ingress/egress for employees and deliveries.
Front-of-house space includes a main dining area with a pass-through window to the kitchen, an auxiliary dining area, and a rear lounge area that was formerly used as a gaming room. The layout also includes a stage, a large party/banquet room, and dual front entrances for patrons.
The interior was remodeled in 2016, with a new roof and HVAC installed in 2021.
Front-of-house space includes a main dining area with a pass-through window to the kitchen, an auxiliary dining area, and a rear lounge area that was formerly used as a gaming room. The layout also includes a stage, a large party/banquet room, and dual front entrances for patrons.
The interior was remodeled in 2016, with a new roof and HVAC installed in 2021.
Key Highlights
- Remodeled restaurant in Peoria Heights with Back of House hood and walk‑in
- Back of House includes dry stock area, locking liquor/security room, and manager’s office
- Back of House layout has two employee/delivery ingress/egress points and three bathrooms
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 | $100.0k | $17.04 |
| − Vacancy | −$6.2k | −$1.06 |
| EGI | $93.8k | $15.98 |
| − OpEx | −$23.4k | −$4.00 |
| NOI | $70.3k | $11.99 |
5,866 SF · lease $17.04/SF/yr · vacancy 6.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.00M
$879.0K – $1.17M
NOI $70,319 @ 7.0% cap · market cap 7.03%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$5.13M
$4.49M – $5.99M
NOI $359,206 @ 7.0% cap · market cap 35.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Remodeled restaurant in Peoria Heights with commercial hood, walk-in, and dining plus banquet and lounge areas.
Where is this conventional restaurant located?
The property is located at 4538 N Prospect Rd Peoria Heights, IL.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Remodeled restaurant in Peoria Heights with Back of House hood and walk‑in; Back of House includes dry stock area, locking liquor/security room, and manager’s office; Back of House layout has two employee/delivery ingress/egress points and three bathrooms
