Building Details

Year Built 1976

Listing Agency: Jim Maloof Realty, Inc. p***@gmail.com Show Phone

Listed By: Pam Skehan · License #475125625

Source: Crexi

Added: Jan 9, 2022 Changed: Aug 20 Last Checked: Jul 15 at 11:02AM

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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 Jim Maloof Realty, Inc.

Investment Insights

Based on property information with market context.

This is a successful, turnkey restaurant business for sale. The eatery has been in operation for 37 years and is known for its service. It is located just outside of Pekin. The property is suitable for today's trend towards outdoor or open-air eateries, and includes a large covered patio, lots of parking, and some extra land behind the building. The building is air conditioned and also contains a bathroom. The property size is 408 square feet. All equipment is included. The business has diligently maintained code, health, and safety standards.

Key Highlights

• Turnkey, established business (37 years) with award‑winning reputation.
• Includes all equipment necessary for operation.
• Ideal for outdoor dining with large covered patio and ample parking.

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

$4,269

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

5.69%

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%

$85,380 $85.4K

Cap Rate 7%

$60,986 $61.0K

Cap Rate 9%

$47,433 $47.4K

Market Conditions

NOI Build-Up for 408 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

$6.1K $15.00/SF

− Vacancy

−$428 −$1.05/SF

EGI

$5.7K $13.95/SF

− OpEx

−$1.4K −$3.49/SF

NOI

$4.3K $10.46/SF

Area

Tazewell County, IL

Vacancy

7.00%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

25.00%

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%

$85,380

Cap Rate 7%

$60,986

Cap Rate 9%

$47,433

Alternative Uses

Best Use

Specialty Retail

$61.0K

$53.4K – $71.2K (±1% cap)

NOI $4,269 @ 7.0% cap · market cap 5.69%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$159.7K

$139.7K – $186.3K (±1% cap)

NOI $11,176 @ 7.0% cap · market cap 14.90%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Conventional restaurants

Suggested Use

Top Pick Storage Facility Big Box & Wholesale Store Auto Parts Store Food Market Farmer's Market

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

20

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 61534, IL

1,622

Population

771

Households

2.1

Avg Household Size

46

Median Age

25%

College-Educated

98%

High-School Grad

55.9 sq mi

ZIP Area

29

Density / Sq Mi

$88,920

Median Household Income

$51,635

Median Earnings

$906

Median Rent

$152,700

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Established restaurant with loyal customer base and all equipment included.

Where is this conventional restaurant located?

The property is located at 107 W MAIN Street Green Valley, IL.

What is the asking price?

The asking price for this property is $75,000.

What are key features of this property?

This property features: Turnkey, established business (37 years) with award‑winning reputation.; Includes all equipment necessary for operation.; Ideal for outdoor dining with large covered patio and ample parking.