108 Main St Reynolds, IL 61279
- Commercial real estate
- 2,423 SF
Current Use by Public Records
- Commercial real estate
Property Details for 108 Main St
- Year built
- 1980
- Property size
- 2,423 SF
- Zone code
- REY
- Property type
- Commercial real estate
- APN
- 22-36-424-005
- APU
- 2236424005
Description
This exceptional commercial property at 108 E Main Street, Reynolds, IL, presents a unique investment opportunity. The 4,401 square foot building sits on a 0.48-acre lot and offers a versatile layout ideal for multiple uses. The main structure includes a thriving 2,423 square foot bar and restaurant, complete with all fixtures, furniture, and equipment (FF&E). Recent upgrades to the bar and restaurant area include a new water heater, remodeled restrooms, and updated kitchen equipment. This equipment encompasses a 10-foot hood, walk-in cooler, two refrigerators, a six-burner stove, a flat-top grill, two stainless steel prep stations, and four fryers. A spacious patio area to the east provides additional seating capacity. A significant 1,978 square foot addition serves as a shop/warehouse, featuring a 10x12 overhead door, three-phase power, and is heated (but not cooled). This addition offers ample space for storage or various commercial activities. The shop also includes an additional restroom for convenience. The property's prime location on Main Street in Reynolds, IL, ensures high visibility and accessibility. This turnkey operation presents a rare chance to acquire a well-established business with significant expansion potential. The asking price is $249,000.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $145,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $160,000
- 6.5%
- $145,000
- 7%
- $140,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $125,000
- Geo Method
- $130,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $150,000
- Retail
- $155,000
- Mixed-Use
- $160,000
- Hospitality
- $135,000
- Educational
- $170,000
- Residential Income
- $175,000
- Energy
- $145,000
- Income-Based Land
- $130,000
- Food Service
- $135,000
Location Insight
- Map
- Local Demand
- City
- Reynolds
- County
- Rock Island
- State
- Illinois
- Longitude
- -90.668
- Latitude
- 41.33
- CBSA code
- 19340
- CBSA name
- DAVENPORT-MOLINE-ROCK ISLAND, IA-IL METROPOLITAN STATISTICAL AREA