Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2578 Us Highway 36 Newman, IL 61942

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2578 Us Highway 36 Newman, IL 61942

    View on Map
    • Retail properties & Spaces
    • 1,500 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 2578 Us Highway 36

    Property size
    1,500 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This thriving, well-established pizza restaurant in Newman, Illinois presents a fantastic investment opportunity. Located at 2578 E US HWY 36, this 2,100 square foot eatery enjoys a prime location directly on the highway, ensuring high visibility and consistent customer traffic. The property sits on nearly half an acre, providing ample parking for patrons. The sale includes all restaurant equipment, tables, chairs, and booths, allowing for a seamless transition for the new owner. The business boasts 100% occupancy and is currently operating successfully. A significant advantage is the recently installed roof in 2021, eliminating immediate roof replacement costs. The asking price is $270,000. This turnkey operation offers immediate income potential and is ready for its next chapter under new ownership. The property's size falls within the 1,500-1,900 square foot range, as indicated in initial property records. The lease is expiring, presenting a unique opportunity for ownership and control. This is a rare chance to acquire a profitable, established business with significant growth potential in a desirable location. Serious inquiries are encouraged to schedule a viewing and explore this exceptional investment opportunity further.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Newman
    County
    Douglas
    State
    Illinois
    Longitude
    -87.9848
    Latitude
    39.7927

    Comparable in this City

    • Value Estimation by Request
      0.06 Acres

      130 Broadway St

      VACANT COMMERCIAL LAND • 0.06 Acres
      130 Broadway St, Newman, IL 61942-7002
      View Details
    • Value Estimation by Request
      0.06 Acres

      101 Yates St

      VACANT COMMERCIAL LAND • 0.06 Acres
      101 Yates St, Newman, IL 61942
      View Details
    • Value Estimation by Request
      5,600 SF

      106 Broadway St

      COMMERCIAL (GENERAL) • 5,600 SF
      106 Broadway St, Newman, IL 61942-7002
      View Details
    • Value Estimation by Request
      1,900 SF

      120 Broadway St

      COMMERCIAL (GENERAL) • 1,900 SF
      120 Broadway St, Newman, IL 61942
      View Details
    • Value Estimation by Request
      1,728 SF

      Newman, IL 61942

      COMMERCIAL (GENERAL) • 1,728 SF
      Newman, IL 61942
      View Details
    • Value Estimation by Request
      1,950 SF

      2532nd E Us Hwy 36

      COMMERCIAL (GENERAL) • 1,950 SF
      2532nd E Us Hwy 36, Newman, IL 61942-9478
      View Details

    Similar Nearby for Sale

    • $235,000
      3,910 SF

      Updated Bar & Grill Opportunity

      Well-maintained bar and grill with recent updates and renovations.
      107 E Yates St, Newman, IL 61942
      View Details
    • Contact for pricing
      0.42 Acres

      Spacious Lot in Quiet Newman

      Residential lot with mature trees and a two-car garage.
      610 W Green St, Newman, IL 61942
      View Details
    • Contact for pricing
      65,383 SF

      Redevelopment Opportunity in Newman, Illinois

      65,383 SF warehouse/manufacturing facility on 6.58 acres for sale.
      2475 E Us Highway 36, Newman, IL 61942
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2578 Us Highway 36
    Newman, IL 61942
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!