Restaurant Building with
For Sale
$575,000
8660 N 2nd St Unit 0, Machesney Park, IL 61115
Operating food-service property with a spacious dining area, large windows, paved parking, and a layout suited to continued restaurant use.
Property Size3,336 SF
Price / SF$172.36
Days on Market53
Property Features for 8660 N 2nd St Unit 0
General Information
Standard status
Active
Size
3,336 SF
Additional Details
Road Access
Yes
Building Details
Year Built
1995
Listing Agency:
OnPath Realty Inc
Listed By:
Abilene Villagran
(815) 517-8872
Source:
Liveliferealty
Added: Sep 7
Changed: Oct 25
Last Checked: Oct 7 at 4:28PM
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 OnPath Realty Inc
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Investment Insights
Based on property information with market context.
Located at 8660 N 2nd St in Machesney Park, this 3,336-square-foot restaurant property was built in 1995 and is currently operating as Plaza Los Panchos Mexican Restaurant. The interior includes a spacious dining area, large windows that bring in natural light, attractive finishes, and a practical arrangement designed for restaurant operations.
The property sits along a roadway with access from N 2nd St and includes a generous paved parking area and prominent on-site signage. Its existing configuration supports continued restaurant use, while the business, equipment, and fixtures may be available separately.
The property sits along a roadway with access from N 2nd St and includes a generous paved parking area and prominent on-site signage. Its existing configuration supports continued restaurant use, while the business, equipment, and fixtures may be available separately.
Key Highlights
- 3,336‑square‑foot restaurant property at 8660 N 2nd St, Machesney Park, IL 61115
- Built in 1995
- Currently operating as Plaza Los Panchos Mexican Restaurant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,597
Cap Rate
8.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$931,940
$931.9K
Cap Rate 7%
$665,671
$665.7K
Cap Rate 9%
$517,744
$517.7K
Market Conditions
NOI Build-Up for 3,336 SF
Gross rent
$64.1K $19.20/SF
− Vacancy
−$1.9K −$0.58/SF
EGI
$62.1K $18.62/SF
− OpEx
−$15.5K −$4.66/SF
NOI
$46.6K $13.97/SF
Area
Rockford, IL
Vacancy
3.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$931,940
Cap Rate 7%
$665,671
Cap Rate 9%
$517,744
Alternative Uses
Best Use
Specialty Retail
$665.7K
$582.5K – $776.6K
NOI $46,597 @ 7.0% cap · market cap 8.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$887.3K
$776.4K – $1.04M
NOI $62,114 @ 7.0% cap · market cap 10.80%
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
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
161
Businesses Nearby
55k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 43%
Dining 37%
Shops & Services 21%
Burlington
Apparel
23,255 visits/mo
0.2 miles
Burger King
Dining
11,173 visits/mo
0.2 miles
Starbucks
Dining
8,794 visits/mo
0.2 miles
Associated Bank
Shops & Services
4,511 visits/mo
0.3 miles
BP
Shops & Services
3,651 visits/mo
0.5 miles
Demographics for 61115, IL
22,599
Population
8,983
Households
2.5
Avg Household Size
41
Median Age
18%
College-Educated
91%
High-School Grad
10.6 sq mi
ZIP Area
2,132
Density / Sq Mi
$73,771
Median Household Income
$44,141
Median Earnings
$1,111
Median Rent
$160,700
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 - Operating food-service property with a spacious dining area, large windows, paved parking, and a layout suited to continued restaurant use.
Where is this conventional restaurant located?
The property is located at 8660 N 2nd St Unit 0 Machesney Park, IL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 3,336‑square‑foot restaurant property at 8660 N 2nd St, Machesney Park, IL 61115; Built in 1995; Currently operating as Plaza Los Panchos Mexican Restaurant
