Remodeled Restaurant With
For Sale
$1,600,000
5805 N Knoxville Ave, Peoria, IL 61614
Full-service dining, bar operations, take-away offerings, and a separate cafe-market entrance support varied hospitality operations.
Property Size6,779 SF
Price / SF$236.02
Days on Market492
Property Features for 5805 N Knoxville Ave
General Information
Standard status
Active
Size
6,779 SF
Property subtype
Commercial
Listing Agency:
BHHS Central Illinois, REALTORS
Listed By:
Brandon Shaffer, ABR,AHWD,PSA · License #471019606
(309) 663-7653
Source:
Illianahomesource
Added: Jun 25, 2025
Changed: Oct 25
Last Checked: Oct 28 at 8:54AM
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 BHHS Central Illinois, REALTORS
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Investment Insights
Based on property information with market context.
This conventional restaurant business occupies approximately 6,779 square feet within a roughly 29,620-square-foot property. The facility has been completely remodeled and includes full-service dining, a bar, take-away market service, catering and group-service capabilities, plus a separate cafe-market entrance for breakfast, coffee, baked goods, deli items, and prepared meals. Fixtures, inventory, supplies, recipes, and furniture are included.
Parking accommodates 100+ vehicles. The property is located at 5805 N Knoxville Ave in Peoria, within a park setting that draws families, walkers, outdoor enthusiasts, and visitors attending community activities. A pre-negotiated long-term lease includes options secured through 2038, providing an established occupancy structure for the operation.
Parking accommodates 100+ vehicles. The property is located at 5805 N Knoxville Ave in Peoria, within a park setting that draws families, walkers, outdoor enthusiasts, and visitors attending community activities. A pre-negotiated long-term lease includes options secured through 2038, providing an established occupancy structure for the operation.
Key Highlights
- Approximately 6,779 sq ft of finished restaurant space
- Roughly 29,620 sq ft of property
- 100+ vehicle parking capacity
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,941
Cap Rate
5.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,738,820
$1.7M
Cap Rate 7%
$1,242,014
$1.2M
Cap Rate 9%
$966,011
$966.0K
Market Conditions
NOI Build-Up for 6,779 SF
Gross rent
$122.0K $18.00/SF
− Vacancy
−$6.1K −$0.90/SF
EGI
$115.9K $17.10/SF
− OpEx
−$29.0K −$4.27/SF
NOI
$86.9K $12.83/SF
Area
Peoria, IL
Vacancy
5.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,738,820
Cap Rate 7%
$1,242,014
Cap Rate 9%
$966,011
Alternative Uses
Best Use
Specialty Retail
$1.24M
$1.09M – $1.45M
NOI $86,941 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$5.93M
$5.19M – $6.92M
NOI $415,114 @ 7.0% cap · market cap 25.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
849
Businesses Nearby
3k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Sweet Cece's
Dining
2,537 visits/mo
0.4 miles
Demographics for 61614, IL
27,119
Population
13,870
Households
2
Avg Household Size
41
Median Age
46%
College-Educated
97%
High-School Grad
12.0 sq mi
ZIP Area
2,260
Density / Sq Mi
$68,379
Median Household Income
$46,540
Median Earnings
$948
Median Rent
$169,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Full-service dining, bar operations, take-away offerings, and a separate cafe-market entrance support varied hospitality operations.
Where is this conventional restaurant located?
The property is located at 5805 N Knoxville Ave Peoria, IL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Approximately 6,779 sq ft of finished restaurant space; Roughly 29,620 sq ft of property; 100+ vehicle parking capacity
