Building Details

Year built 1998

Floors in Building 2

Flooring type Wood, Tile

Building materials Wood Siding, Log

Roof type Asphalt

Listing Agency: RE/MAX Professionals · RE/MAX International m***@remax.net Show Phone

Listed By: Jim Fulgenzi · License #471021607 Show Phone

Added: Sep 16 Last Checked: Sep 17 at 12:06PM

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MLS# CA1046563

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.

Built in 1998, this two-story property combines a restaurant-oriented main level with private living quarters above. The building contains 3,672 finished SF, divided into 1,836 SF on each floor. The main level includes dining space that has accommodated 50+ guests, enclosed patio seating, porch and outdoor areas, and a handcrafted stone fireplace. Wood siding, log construction, wood and tile flooring, forced-air propane heat, central air, an asphalt roof, and a septic tank serve the property.

The upper level provides a separate residential-style arrangement with vaulted ceilings, hardwood floors, a large kitchen with walk-in pantry, open living and dining areas, a bedroom, full bath, office nook, and elevated deck. B3 zoning is listed for the property. Its existing restaurant and living configuration supports continued hospitality use or a combined commercial-residential format.

Key Highlights

• 3,672 finished SF with 1,836 SF on each level
• Main floor has accommodated 50+ guests
• Upper level includes kitchen, bedroom, full bath, office nook, and elevated deck

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$28,476

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

8.76%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$569,520 $569.5K

Cap Rate 7%

$406,800 $406.8K

Cap Rate 9%

$316,400 $316.4K

Market Conditions

NOI Build-Up for 3,672 SF 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.

Gross rent

$48.5K $13.20/SF

− Vacancy

−$2.9K −$0.79/SF

EGI

$45.6K $12.41/SF

− OpEx

−$17.1K −$4.65/SF

NOI

$28.5K $7.76/SF

Area

Sangamon County, IL

Vacancy

6.00%

Lease Rate

$13.20 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$569,520

Cap Rate 7%

$406,800

Cap Rate 9%

$316,400

Alternative Uses

Best Use

Office B

$601.9K

$526.7K – $702.3K (±1% cap)

NOI $42,136 @ 7.0% cap · market cap 12.97%

Second Best

Specialty Retail

$484.4K

$423.8K – $565.1K (±1% cap)

NOI $33,907 @ 7.0% cap · market cap 10.44%

Theoretical Best

Office A

$811.0K

$709.6K – $946.2K (±1% cap)

NOI $56,769 @ 7.0% cap · market cap 17.47%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Conventional restaurants

Suggested Use

Top Pick Plumbing Service Auto Repair Shop Computer & Electronic Repair (Bike/Boat/Book/etc) Store Restaurant 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

19

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 62677, IL

2,571

Population

895

Households

2.9

Avg Household Size

44

Median Age

35%

College-Educated

98%

High-School Grad

89.3 sq mi

ZIP Area

29

Density / Sq Mi

$99,167

Median Household Income

$53,824

Median Earnings

$888

Median Rent

$210,600

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Two-level layout combines a restaurant setting with private living quarters and outdoor seating areas.

Where is this conventional restaurant located?

The property is located at 6141 MAIN Street Salisbury, IL.

What is the asking price?

The asking price for this property is $324,900.

What are key features of this property?

This property features: 3,672 finished SF with 1,836 SF on each level; Main floor has accommodated 50+ guests; Upper level includes kitchen, bedroom, full bath, office nook, and elevated deck