Two-Story Restaurant
516 Maine Street Quincy, IL 62301
516 Maine Street, Quincy, IL, 62301
$332,500
For Sale
$332,500
COMMERCIAL - Quincy, IL
Property Size3,894 SF
Lot Size0.11 Acres
Price / SF$85.39
Days on Market48
Property Features for 516 Maine Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- D1
- Standard status
- Active
- APN
- 23-1-0330-000-00
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- LOT 2 BLK 20 QUINCY SURVEY E 24FT OF W 29FT LOT 2
- Tax Annual Amount
- 203
Listing Agency
Happel, Inc., REALTORS
(217) 224-8383
4439 Broadway, Quincy, IL
Listed by
Max Dancer · License #47519024
(217) 440-3100
Added: Jun 4 Updated: Jun 5 at 1:47 pm Checked: Jul 21 at 3:06 am
MLS# CA1044258
Copyright © 2026 RMLS Alliance. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
516 Maine Street in Quincy, Illinois is a two-story commercial building in the Downtown Business District, under D1 zoning and within a TIF District. The property totals approximately 3,894 square feet and includes a full-service commercial kitchen with a hood and exhaust system, along with a grease trap in the basement. The first floor is laid out with a centrally positioned bar and seating for about 19 patrons, supported by a front banquet/event space that can seat up to about 128 guests. The basement is partially improved with concrete flooring, while the remaining basement area has a dirt floor, and both the first floor and basement provide rear access. A membrane roof was installed in 2013.
The building’s narrow footprint, approximately 22 feet wide, can support a range of concepts. The second floor is currently vacant and closed off, which may allow for future buildout depending on an operator’s or buyer’s plans.
This configuration can fit an owner-user restaurant or operator that wants an operational kitchen and established public-facing areas, or a buyer considering restaurant, banquet, retail, office, or mixed-use redevelopment. With existing kitchen infrastructure and rear access, the property offers a practical base for multiple commercial uses within a downtown setting.
The building’s narrow footprint, approximately 22 feet wide, can support a range of concepts. The second floor is currently vacant and closed off, which may allow for future buildout depending on an operator’s or buyer’s plans.
This configuration can fit an owner-user restaurant or operator that wants an operational kitchen and established public-facing areas, or a buyer considering restaurant, banquet, retail, office, or mixed-use redevelopment. With existing kitchen infrastructure and rear access, the property offers a practical base for multiple commercial uses within a downtown setting.
Key Highlights
- 2‑story commercial building at 516 Maine St, Quincy, IL 62301, totaling approx. 3,894 SF
- Downtown Business District D1 zoning and located within a TIF district
- Full‑service commercial kitchen with hood and exhaust system, plus grease trap in the basement
Local Financial Insights For 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 | $44.4k | $11.40 |
| − Vacancy | −$2.4k | −$0.63 |
| EGI | $42.0k | $10.77 |
| − OpEx | −$12.6k | −$3.23 |
| NOI | $29.4k | $7.54 |
3,894 SF · lease $11.40/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$759.4K
$664.5K – $886.0K
NOI $53,158 @ 7.0% cap · market cap 15.99%
Second Best
Retail
$419.5K
$367.1K – $489.4K
NOI $29,365 @ 7.0% cap · market cap 8.83%
Theoretical Best
Healthcare Medical
$777.9K
$680.7K – $907.5K
NOI $54,452 @ 7.0% cap · market cap 16.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Two-story downtown building with full commercial kitchen, event seating, and rear access for flexible food and retail uses.
Where is this conventional restaurant located?
The property is located at 516 Maine Street Quincy, IL.
What is the asking price?
The asking price for this property is $332,500.
What are key features of this property?
This property features: 2‑story commercial building at 516 Maine St, Quincy, IL 62301, totaling approx. 3,894 SF; Downtown Business District D1 zoning and located within a TIF district; Full‑service commercial kitchen with hood and exhaust system, plus grease trap in the basement
