Restaurant Building on Carlyle
601 Carlyle Avenue Belleville, IL 62221
601 Carlyle Avenue, Belleville, IL, 62221
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For Sale
Contact for pricing
2,600 SF restaurant building for sale on Carlyle Avenue.
Property Size2,600 SF
Price / SF$115
Days on Market3103
Property Features for 601 Carlyle Avenue
General Information
- Standard status
- Active
- Size
- 2,600 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1973
Listing Agency
Barbermurphy Group
(618) 570-8344
Listed by
John Eichenlaub · License #IL 471004100
Source
Crexi
Added: Jan 17, 2018 Checked: Jul 17 at 10:56 am
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 Barbermurphy Group
Investment Insights
Based on property information with market context.
This 2,600 square foot building, formerly an IHOP restaurant, is available for sale. It is situated in a high-visibility, high-traffic area with an average daily traffic count of 17,500 on Carlyle Avenue. The property presents an opportunity for conversion to office or retail use. All equipment, with the exception of leased equipment, is included in the sale. The building underwent a partial rehabilitation in 2017.
Key Highlights
- High visibility location with 17,500 ADT on Carlyle Ave.
- 2,600 SF building suitable for restaurant, office, or retail use.
- All restaurant equipment included in the sale (except leased equipment).
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.6k | $15.60 |
| − Vacancy | −$3.4k | −$1.33 |
| EGI | $37.1k | $14.27 |
| − OpEx | −$11.1k | −$4.28 |
| NOI | $26.0k | $9.99 |
2,600 SF · lease $15.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$506.0K
$442.7K – $590.3K
NOI $35,419 @ 7.0% cap · market cap 11.85%
Second Best
Retail
$371.1K
$324.7K – $433.0K
NOI $25,979 @ 7.0% cap · market cap 8.69%
Theoretical Best
Office A
$615.5K
$538.6K – $718.1K
NOI $43,086 @ 7.0% cap · market cap 14.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - 2,600 SF restaurant building for sale on Carlyle Avenue.
Where is this conventional restaurant located?
The property is located at 601 Carlyle Avenue Belleville, IL.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: High visibility location with 17,500 ADT on Carlyle Ave.; 2,600 SF building suitable for restaurant, office, or retail use.; All restaurant equipment included in the sale (except leased equipment).
