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Property profile

401 Piasa St Alton, IL 62002

OFF-MARKET
Retail properties & Spaces
23,018 SF 1.47 ac lot
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Property summary

AI-generated overview

This exceptional Alton, IL property offers a turnkey opportunity to acquire a thriving restaurant and event center. The complex encompasses three buildings totaling 23,018 square feet on a 1.47-acre lot (APN 23-2-07-14-07-201-001), zoned B-2. The main building features a fully equipped 8,000+ square foot restaurant and event venue with a substantial kitchen (22' hood system, 2 walk-ins), showcasing a unique design reflecting Alton's history. A large covered patio (seating for 60+) is complemented by a 1,200 square foot enclosed lodge bar with a fireplace. The outdoor area also includes an elevated stage and a 30x40 foot lawn. A historic 13,000 square foot building (Old Beale Warehouse) is also part of the property. Ample on-site parking (80+ spaces) is available. This prime location in Alton's entertainment district, within walking distance of the riverfront and near major redevelopment projects, presents a rare investment opportunity. The asking price is $849,000 ($36.88/sq ft).

Property profile

Verified
Property type Retail properties & Spaces
Total area 23,018 SF
Lot 1.47 ac (64,033 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Take-out & Catering Catering Service
  • Hotel & Motel Resort

Location

401 Piasa St Alton, IL 62002
Alton metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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