Remodeled Restaurant with
For Sale
$1,600,000
5805 N Knoxville Avenue, Peoria, IL 61614
Business Opportunity, Peoria, IL
Property Size6,779 SF
Lot Size0.68 Acres
Price / SF$236.02
Days on Market314
Property Features for 5805 N Knoxville Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Knoxville Ave to the park entrance.
Subdivision
Peoria
Standard status
Active
APN
1416376004
Lot size
0.68 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
16528
Utilities
Cooling system
Central Air
Building Details
Floors in Building
2
Listing Agency:
BHHS Central Illinois, REALTORS · Berkshire Hathaway HomeServices
(309) 663-7653
Listed By:
Brandon Shaffer · License #471019606
(309) 363-5393
Added: Dec 1, 2025
Changed: Oct 10
Last Checked: Oct 11 at 2:06AM
MLS# 12510880
Copyright © 2026 Midwest Real Estate Data, LLC. 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.
This operating restaurant business includes approximately 6,779 square feet of finished space on roughly 0.68 acres. The facility has been remodeled and updated, with full-service dining, a bar, outdoor dining, and a separate cafe and market entrance. The cafe area supports breakfast service, coffee, baked goods, deli items, and prepared meals, while the operation also includes take-away, catering, and large-group or corporate capabilities.
The property is located within a Peoria park at 5805 N Knoxville Avenue and includes parking for 100+ vehicles. The park setting draws families, walkers, outdoor enthusiasts, and visitors attending community activities. Fixtures, inventory, supplies, recipes, and furniture remain with the business. A pre-negotiated long-term lease includes options secured through 2038.
The property is located within a Peoria park at 5805 N Knoxville Avenue and includes parking for 100+ vehicles. The park setting draws families, walkers, outdoor enthusiasts, and visitors attending community activities. Fixtures, inventory, supplies, recipes, and furniture remain with the business. A pre-negotiated long-term lease includes options secured through 2038.
Key Highlights
- Approximately 6,779 square feet of finished restaurant space on roughly 0.68 acres
- Remodeled facility with dining room, bar, outdoor dining, and cafe/market entrance
- Multiple operating channels include dine‑in, take‑away, catering, and large‑group service
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.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Updated hospitality business with dining, bar, take-away, catering, and outdoor service components.
Where is this conventional restaurant located?
The property is located at 5805 N Knoxville Avenue 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 square feet of finished restaurant space on roughly 0.68 acres; Remodeled facility with dining room, bar, outdoor dining, and cafe/market entrance; Multiple operating channels include dine‑in, take‑away, catering, and large‑group service
