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    115 Collins St Mendon, IL 62351

    Sponsored
    For Sale
    $325,000

    Thriving Restaurant, 3 Apartments, Great Income!

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity in Mendon, Illinois, presents a dynamic commercial property at 115 W Collins Street, zip code 62351. Priced at $325,000, this property combines a successful restaurant and bar operation with three income-generating apartments, offering a diverse revenue stream. The restaurant itself features a spacious dining area perfect for large gatherings, a welcoming wrap-around bar, and a dedicated game room ideal for entertainment and events. Convenient rear parking ensures easy customer access. The three apartments are currently occupied, providing a consistent rental income. The property is classified as land and retail, situated in Adams County, Illinois, at latitude 40.0882685 and longitude -91.2842699. This turnkey operation presents a rare chance to acquire an established and profitable business with significant upside potential. The property's location in the heart of Mendon offers excellent visibility and accessibility. This is an ideal opportunity for an investor seeking a diversified portfolio with immediate cash flow and strong growth prospects. Don't miss this chance to own a thriving commercial property with multiple income streams.

    Property Features for 115 Collins St

    General Information

    Property type
    Restaurants

    HighLights

    • $325,000 asking price.
    • Land and retail property in Mendon, IL.
    • Includes a restaurant and bar with a game room.
    • Features a large dining area and wrap‑around bar.
    • Offers ample rear parking.
    • Three occupied apartments provide additional income.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mendon's Diner & Tap Restaurant ATM Atm

    Suggested Use

    Restaurant Spa & Massage Dental Office Auto Repair Shop Hair Salon Nail Salon Department Store Food Market HVAC Service Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mendon
    County
    Adams
    State
    Illinois
    Longitude
    -91.2842699
    Latitude
    40.0882685

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    FAQs

    What type of property is this?
    Restaurant - Thriving Restaurant, 3 Apartments, Great Income!
    Where is this restaurant located?
    The property is located at 115 Collins St Mendon, IL.
    What is the asking price?
    The asking price for this property is $325,000.
    What are key features of this property?
    This property features: $325,000 asking price.; Land and retail property in Mendon, IL.; Includes a restaurant and bar with a game room.
    Request Owner's contact information
    115 Collins St Mendon, IL 62351
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    115 Collins St
    Mendon, IL 62351
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    115 Collins St Mendon, IL 62351
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