Restaurant Building with
For Sale
$290,000
800 W Broadway Street, Bradley, IL 60915
Restaurant building offering 60 parking spaces, service area, and a restaurant hood with Ansul fire suppression system.
Property Size4,002 SF
Price / SF$72.46
Days on Market197
Property Features for 800 W Broadway Street
General Information
Standard status
Active
Size
4,002 SF
Total Parking Spaces
60
Property subtype
Commercial
Zoning
COMMR
Additional Details
Commercial Hood
Yes
Taxes and HOA fees
Annual Taxes
$5,916
Building Details
Building Size
4,002 SF
Year Built
1960
Stories
1
Units
1
Tenancy
Multi
Listing Agency:
Coldwell Banker Real Estate Group
(708) 273-5342
Listed By:
Shane Conneely
(708) 273-5342
Source:
Gia-sells
Added: Feb 9
Changed: Aug 23
Last Checked: Aug 24 at 2:26PM
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 Coldwell Banker Real Estate Group
Investment Insights
Based on property information with market context.
This property is a restaurant-focused building with a commercial hood ventilation system and Ansul fire suppression. It includes a big service setup, restaurant kitchen ventilation, and 3 RTUs. Plumbing is described as all copper PVC, and the building has 4 rest rooms. The layout is noted as 2–3 units.
The site consists of 6 lots and provides parking for 60 vehicles.
Additional building systems include the specified service and ventilation components intended for restaurant operations, along with the stated restroom count and multi-unit configuration.
The site consists of 6 lots and provides parking for 60 vehicles.
Additional building systems include the specified service and ventilation components intended for restaurant operations, along with the stated restroom count and multi-unit configuration.
Key Highlights
- 4,000 SF restaurant building with a +700 SF basement
- 60 parking spots on 6 lots in the heart of Bradley
- 3 RTUs for heating and cooling
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
$25,732
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
8.87%
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%
$514,640
$514.6K
Cap Rate 7%
$367,600
$367.6K
Cap Rate 9%
$285,911
$285.9K
Market Conditions
NOI Build-Up for 4,002 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
$38.9K $9.72/SF
− Vacancy
−$2.1K −$0.53/SF
EGI
$36.8K $9.19/SF
− OpEx
−$11.0K −$2.76/SF
NOI
$25.7K $6.43/SF
Area
Kankakee County, IL
Vacancy
5.50%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
30.00%
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%
$514,640
Cap Rate 7%
$367,600
Cap Rate 9%
$285,911
Alternative Uses
Best Use
Specialty Retail
$393.9K
$344.6K – $459.5K
NOI $27,570 @ 7.0% cap · market cap 9.51%
Second Best
Industrial
$367.6K
$321.7K – $428.9K
NOI $25,732 @ 7.0% cap · market cap 8.87%
Theoretical Best
Multifamily LT 5
$3.23M
$2.82M – $3.77M
NOI $225,998 @ 7.0% cap · market cap 77.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
568
Businesses Nearby
98k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 43%
Shops & Services 34%
Superstores 21%
Home Improvements & Furnishings 2%
Big Lots
Superstores
20,498 visits/mo
0.2 miles
Circle K
Shops & Services
16,516 visits/mo
0.2 miles
Circle K
Shops & Services
11,449 visits/mo
0.5 miles
Taco John's
Dining
9,117 visits/mo
0.4 miles
KFC
Dining
7,623 visits/mo
0.1 miles
Demographics for 60915, IL
10,128
Population
4,274
Households
2.4
Avg Household Size
38
Median Age
9%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
2,979
Density / Sq Mi
$55,773
Median Household Income
$37,979
Median Earnings
$1,106
Median Rent
$143,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial kitchen - Restaurant building offering 60 parking spaces, service area, and a restaurant hood with Ansul fire suppression system.
Where is this commercial kitchen located?
The property is located at 800 W Broadway Street Bradley, IL.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: 4,000 SF restaurant building with a +700 SF basement; 60 parking spots on 6 lots in the heart of Bradley; 3 RTUs for heating and cooling
