118 S Main St Palestine, IL 62451
For Sale
1 / 9
This turnkey restaurant in Palestine, IL, presents a unique investment opportunity. Located on Main Street, this 1,700 square foot establishment boasts high visibility and foot traffic. Built in 1900, the property sits on a 0.08-acre lot (APN: 06-4-34-044-072-000) and is zoned COM. The interior features a fully equipped kitchen and ample seating for 75+ patrons. All operations are compliant with state and local ordinances. This prime location offers significant potential for growth within a thriving community, making it an ideal choice for an established or aspiring restaurateur. The asking price is $139,900. This property represents a chance to acquire a well-established business in a desirable location with significant upside potential. The property's history and prime location combine to create a truly unique opportunity for a buyer looking to enter the restaurant industry or expand their existing portfolio. The property is ready for immediate operation, minimizing start-up costs and maximizing return on investment. Don't miss this chance to own a piece of Palestine's vibrant Main Street.
-
HOME PLATE Restaurant
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.