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    3729 248Th St Hillsdale, IL 61257

    • Commercial real estate
    • 1,880 SF
    For Sale
    View listing
    $299,900
    Value Estimations
    Cap Rate Potential
    7.8%
    Commercial real estate
    Location Intelligence
    Property ID
    US28-1452541
    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

    • Jammerz Roadhouse / Bar & Grill / Bar
    • RiverStone Group, Inc - Midway Stone / Quarry
    • Midway Stone / Business Park

    Property Details for 3729 248Th St

    Year built
    1939
    Property size
    1,880 SF
    Zone code
    B3
    Property type
    Commercial real estate
    APN
    10-09-300-005
    APU
    1009300005

    Description

    This thriving 3,500 square foot bar and grill presents a unique turnkey opportunity in Hillsdale, Illinois. Strategically located just off Interstate 88, this well-established business boasts a loyal customer base and benefits from high visibility and convenient access. The sale includes all furniture, fixtures, and equipment, allowing for immediate operation with minimal upfront investment. Recent significant improvements have been made to the property, enhancing its functionality and appeal. These upgrades encompass a complete overhaul of the electrical and plumbing systems, the installation of a durable steel roof, and the modernization of major mechanical components. Furthermore, the property features comfortable outdoor patio seating, expanding its capacity and creating an inviting atmosphere for patrons. The 0.54-acre lot provides ample space for potential expansion or outdoor activities. This turnkey operation offers a rare chance to acquire a profitable, established business with a strong foundation for continued success. Financial records are available upon request to qualified buyers. The asking price is $299,900. This is an exceptional opportunity for an experienced restaurateur or a savvy investor seeking a proven business model in a prime location. Don't miss out on this chance to own a thriving establishment with a loyal customer base and significant recent upgrades.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $245,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $315,000
      6.5%
      $295,000
      7%
      $270,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $184,000
      Market price range: $57.9k - $185k
      AI Estimate
      $237,000
      Market price range: $56.8k - $237k

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

    Location Insight

    • Map
    • Local Demand
    City
    Hillsdale
    County
    Rock Island
    State
    Illinois
    Longitude
    -90.2773
    Latitude
    41.5582
    CBSA code
    19340
    CBSA name
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $4,344
    $10,708
    $49,992
    $60,700
    -
    $32,124
    $149,976
    $182,100

    Comparable in this City

    • Value Estimation
      $245,000
      2,016 SF

      8601 318th N St

      COMMERCIAL (GENERAL) • 2,016 SF
      8601 318th N St, Hillsdale, IL 61257-9000
      View Details
    • Value Estimation
      $245,000
      0.23 Acres

      29400 Rte 2nd N

      COMMERCIAL (GENERAL) • 0.23 Acres
      29400 Rte 2nd N, Hillsdale, IL 61257
      View Details
    • Value Estimation
      $330,000
      2,520 SF

      28819 38th N Ave

      COMMERCIAL (GENERAL) • 2,520 SF
      28819 38th N Ave, Hillsdale, IL 61257
      View Details
    • Value Estimation
      $275,000
      1,950 SF

      403 Main St

      COMMERCIAL (GENERAL) • 1,950 SF
      403 Main St, Hillsdale, IL 61257-9659
      View Details
    • Value Estimation
      $240,000
      6,142 SF

      402 Main St

      COMMERCIAL (GENERAL) • 6,142 SF
      402 Main St, Hillsdale, IL 61257-9659
      View Details
    • Value Estimation by Request

      303 Main St

      COMMERCIAL (GENERAL)
      303 Main St, Hillsdale, IL 61257
      View Details

    Similar Nearby for Sale

    • $299,900
      3,500 SF

      Turnkey Bar & Grill, Hillsdale IL

      Established Bar/Grill, I-88 Access, High Traffic
      3729 248Th St, Hillsdale, IL 61257
      View Details
    • $155,000
      17.85 Acres

      Hillsdale Recreational Land Near Rock River

      Wooded recreational property near Rock River, ideal for hunting and camping.
      550 Stiner Ave, Hillsdale, IL 61257
      View Details
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    3729 248Th St
    Hillsdale, IL 61257
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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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