Property profile

1606 Tremont St Spring Bay, IL 61611

OFF-MARKET
Drive through restaurants
Property ID
US28-1513524
246 SF 0.5 ac lot Built 1968
Entity Owned Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional turnkey business opportunity in Spring Bay, Illinois, presents a beautifully updated building situated on well-maintained grounds at 1606 TREMONT Street, East Peoria, IL 61611. Currently operating as a thriving pizza and ice cream parlor, this property offers a complete package including the building, land, and all necessary equipment. The asking price of $159,900 represents a compelling investment in a well-established, profitable venture. The property is conveniently located in the Village of Spring Bay, offering easy access for customers and excellent visibility. The attractive building and grounds contribute to the overall appeal and success of the business. This is an ideal opportunity for an experienced restaurateur looking to acquire an established business with immediate revenue potential or for a first-time buyer seeking a turnkey operation. The sale includes all existing equipment, allowing for a seamless transition and immediate commencement of operations. The property's location in the Village of Spring Bay provides a strong foundation for continued success. This is a rare opportunity to acquire a profitable, established business with significant upside potential. The property is zoned for commercial use and is ready for immediate occupancy. Serious inquiries only.

Property profile

Verified
Property type Drive through restaurants
Use group DRIVE-THRU RESTAURANT, FAST FOOD
Year built 1968
Total area 246 SF
Lot 0.5 ac (21,780 SF)
APN 07-01-320-004
UPID US28-1513524

Cap rate & NOI

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

Location

1606 Tremont St Spring Bay, IL 61611-9061
Spring Bay metro Census 30502 PEORIA, IL METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
by Request
Blend (final) Blend
$255k

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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