Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    1051 North Ave Flora, IL 62839

    Property Lookup

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

    1051 North Ave Flora, IL 62839

    View on Map
    • Office properties & Spaces
    • 0.30 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • East End Still & Pickers Lounge / (Bike/Boat/Book/etc) Store / Wine and Liquor Store
    • Grain Systems Inc (GSI) / Big Box & Wholesale Store / Agricultural Supply

    Property Details for 1051 North Ave

    Lot size
    0.30 lot acres
    Property type
    Office properties & Spaces

    Description

    This exceptional turnkey business opportunity in Flora, Illinois, presents a fully operational gaming lounge, bar, and retail store. Located at 1051 E. North Avenue, this property boasts over 2500 square feet of space, significantly larger than its exterior suggests. The layout includes a dedicated gaming lounge, a fully equipped bar with speed rails, under-counter coolers, and a large sink, all within a custom-built bar area. A substantial addition, completed in 2020, features an oversized stage, a pool table area, and ample seating. The retail section offers a well-designed layout and extensive cooler space, complemented by a convenient drive-through. Two walk-in coolers (one dry, one cold) and a large storage room provide ample space for inventory and supplies. The property also includes two ADA-compliant restrooms. Situated on a 0.3-acre corner lot, this location benefits from high traffic counts due to its proximity to both the town center and an industrial park, ensuring excellent visibility. Fixtures, furniture, stock, and most equipment are included in the sale, facilitating a smooth transition for the new owner. Please note that existing gaming licenses are not transferable

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Flora
    County
    17025
    State
    Illinois
    Longitude
    -88.4706
    Latitude
    38.6733

    Comparable in this City

    • Value Estimation by Request

      1051 Ave & 405 Park

      Office properties & Spaces
      1051 Ave & 405 Park, Flora, IL 62839
      View Details
    • Value Estimation by Request
      3,780 SF

      403 North Ave

      Commercial real estate • 3,780 SF
      403 North Ave, Flora, IL 62839
      View Details
    • Value Estimation by Request

      424 Wn Ave

      COMMERCIAL (GENERAL)
      424 Wn Ave, Flora, IL 62839-1243
      View Details
    • Value Estimation by Request

      133 Wn Ave

      COMMERCIAL (GENERAL)
      133 Wn Ave, Flora, IL 62839
      View Details
    • Value Estimation by Request

      215 En Ave

      COMMERCIAL (GENERAL)
      215 En Ave, Flora, IL 62839-2030
      View Details
    • Value Estimation by Request

      Flora, IL 62839

      VACANT COMMERCIAL LAND
      Flora, IL 62839
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Prime Downtown Commercial Buildings

      Two downtown buildings with retail and office space potential.
      111 W North Ave, Flora, IL 62839
      View Details
    • $69,900
      1,616 SF

      Flora Commercial Building - Prime Location

      Established Business, High Traffic Area, Adaptable Space
      223 North Ave, Flora, IL 62839
      View Details
    • Contact for pricing

      Downtown Retail Space For Sale

      Prime retail space in the heart of downtown.
      128 W North Ave, Flora, IL 62839
      View Details
    • $140,000
      5,685 SF

      Downtown Flora Commercial Space

      Prime retail space, high visibility, 5,685 sq ft.
      128 North Ave, Flora, IL 62839
      View Details
    • $159,900
      3,780 SF

      Established Flora Business Opportunity

      Profitable commercial building, 3780 sq ft.
      403 North Ave, Flora, IL 62839
      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.
    1051 North Ave
    Flora, IL 62839
    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

    Thank You for Inquiry

    1051 North Ave, Flora, IL, 62839

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!