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    Property profile & analytics

    214 Main St Grafton, IL 62037

    • Commercial real estate
    • 2,441 SF
    • 0.21 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1837493
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 214 Main St

    Lot size
    0.21 lot acres
    Property size
    2,441 SF
    Property type
    Commercial real estate

    Description

    This exceptional Grafton, IL, mixed-use property presents a unique investment opportunity. Priced at $389,900, this offering encompasses two adjoining commercial buildings totaling 2,441 square feet on a 0.206-acre lot. The main building houses a thriving established bar with seating for up to 175 patrons, featuring a recently updated kitchen (2022-2023), a unique "icehouse cave" gathering area, and an upper deck offering scenic views. An adjoining updated guesthouse includes two full baths and sleeps up to six, while a separate studio apartment with one bath offers additional rental income potential. The property boasts recent improvements, including new siding (2018) and a laundry room. The buildings were extensively renovated in 2019, utilizing original floor joists in the bar's construction. Inventory, furniture, and fixtures are included in the sale. The property is zoned B2 and is not located in a flood plain. The sale excludes a large fire pit and Yeti cooler. Occupancy is available December 10, 2024. This prime Main Street location benefits from high foot traffic. This is an excellent opportunity to acquire a well-established business with significant upside potential or to develop your own concept in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Grafton
    County
    Jersey
    State
    Illinois
    Longitude
    -90.4383553
    Latitude
    38.9699319

    Comparable in this City

    • $525,000
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      Riverfront Condo with Custom Millwork

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    • $192,000
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      Grafton River View Retreat

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    • New
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      Grafton Retail Opportunity

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    • $795,000
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      Grafton Riverfront Investment Opportunity

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    • $429,000
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      Grafton Commercial Property on Main

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      222 E Main St, Grafton, IL 62037
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    Similar Nearby for Sale

    • $525,000
      2,100 SF

      Riverfront Condo with Custom Millwork

      Stunning 2 bed, 2 bath condo with river views.
      805 Wind Rivers Dr, Grafton, IL 62037
      View Details
    • $192,000
      5.00 Acres

      Grafton River View Retreat

      5-acre property with river views, ideal for hunting or building.
      13011 Teal Ln, Grafton, IL 62037
      View Details
    • Contact for pricing
      Pending

      Grafton, IL Vacant Land

      Vacant building lot being sold back to the city.
      90 Redwing Ct, Grafton, IL 62037
      View Details
    • New
      $240,000
      3,200 SF

      Grafton Retail Opportunity

      Commercial building in thriving river town, suitable for various businesses.
      309 N Market St, Grafton, IL 62037
      View Details
    • $795,000
      2,865 SF

      Grafton Riverfront Investment Opportunity

      Six-unit nightly rental property with river views and outdoor amenities.
      1435 W Main St, Grafton, IL 62037
      View Details
    • $429,000
      1,600 SF

      Grafton Commercial Property on Main

      Turn-key commercial property on Main Street in Grafton, Illinois.
      222 E Main St, Grafton, IL 62037
      View Details
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    214 Main St
    Grafton, IL 62037
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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