Restaurant and Office
For Sale
$469,000
9180 State Route 140, Hamel, IL 62046
Restaurant space includes dining and bar areas, a banquet room, outdoor seating, and a separate office building.
Property Size2,962 SF
Price / SF$158.34
Days on Market185
Property Features for 9180 State Route 140
General Information
Standard status
Active
Size
2,962 SF
Property subtype
Commercial
Site & Location
Traffic Count
31,500 vehicles/day
Highway Access
Yes
Additional Details
Business Included
Yes
Equipment Included
Yes
Office Units
1
Currently Operating
Yes
Property Use
Office
Taxes and HOA fees
Annual Taxes
$6,366
Building Details
Building Size
2,962 SF
Year Built
1967
Buildings
2
Listing Agency:
Tarrant and Harman Real Estate and Auction Co
(618) 433-9436
Listed By:
Craig Hyden · License #475.196999
(618) 444-2806
Source:
Finehomesbydawn
Added: Apr 25
Changed: Oct 25
Last Checked: Oct 26 at 3:35AM
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 Tarrant and Harman Real Estate and Auction Co
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Investment Insights
Based on property information with market context.
This mixed-use property combines a restaurant with a separate office building. The restaurant’s main level provides nearly 3,000 square feet for dining and bar service, alongside a full kitchen. A lower-level banquet room adds another gathering area, and outdoor seating overlooks a neighboring lake. Restaurant equipment and inventory are included. The office building measures approximately 1,000 square feet.
The property occupies more than 2 acres and has frontage on an interstate. Average daily traffic is 31,500, and the site is near a truck stop and travel center. Its address is 9180 State Route 140 in Hamel, Illinois.
The property occupies more than 2 acres and has frontage on an interstate. Average daily traffic is 31,500, and the site is near a truck stop and travel center. Its address is 9180 State Route 140 in Hamel, Illinois.
Key Highlights
- Restaurant main level has nearly 3,000 square feet of dining and bar space
- Separate office building of approximately 1,000 square feet
- Site spans over 2 acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,129
Cap Rate
7.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$702,580
$702.6K
Cap Rate 7%
$501,843
$501.8K
Cap Rate 9%
$390,322
$390.3K
Market Conditions
NOI Build-Up for 2,962 SF
Gross rent
$50.5K $17.04/SF
− Vacancy
−$3.6K −$1.23/SF
EGI
$46.8K $15.81/SF
− OpEx
−$11.7K −$3.95/SF
NOI
$35.1K $11.86/SF
Area
Madison County, IL
Vacancy
7.20%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$702,580
Cap Rate 7%
$501,843
Cap Rate 9%
$390,322
Alternative Uses
Best Use
Office B
$670.3K
$586.5K – $782.0K
NOI $46,918 @ 7.0% cap · market cap 10.00%
Second Best
Specialty Retail
$501.8K
$439.1K – $585.5K
NOI $35,129 @ 7.0% cap · market cap 7.49%
Theoretical Best
Office A
$807.4K
$706.4K – $941.9K
NOI $56,515 @ 7.0% cap · market cap 12.05%
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
1
Office units
31,500 VPD
Traffic count
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Explore this area
Business Placement
Demographics for 62046, IL
913
Population
374
Households
2.4
Avg Household Size
38
Median Age
39%
College-Educated
96%
High-School Grad
1.1 sq mi
ZIP Area
830
Density / Sq Mi
$96,750
Median Household Income
$59,777
Median Earnings
$940
Median Rent
$229,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Restaurant space includes dining and bar areas, a banquet room, outdoor seating, and a separate office building.
Where is this mixed-use property located?
The property is located at 9180 State Route 140 Hamel, IL.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: Restaurant main level has nearly 3,000 square feet of dining and bar space; Separate office building of approximately 1,000 square feet; Site spans over 2 acres
