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    215 Appleknocker St Cobden, IL 62920
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    215 Appleknocker St Cobden, IL 62920

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    • Commercial real estate
    For Sale
    $98,700
    View Listing →
    Cobden Restaurant - Turnkey Opportunity For Sale
    $98,700
    2,040 SF

    Cobden Restaurant - Turnkey Opportunity

    Established pizzeria, fully equipped, high potential.

    215 Appleknocker St, Cobden, IL 62920
    View Listing
    Property ID
    US28-5063362
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 215 Appleknocker St

    Year built
    1896
    Property type
    Commercial real estate

    Description

    This exceptional turnkey restaurant opportunity in Cobden, Illinois, presents a unique chance to own a fully equipped commercial space. Located at 215 N Appleknocker Street, this property boasts a prime location in Union County, ready to welcome new culinary ventures. Built in 1896, the building offers a substantial 820 square feet of kitchen space, perfectly equipped for immediate operation. The kitchen includes a Blodgett pizza oven and a chrome top flattop grill, along with freezers and workstations, ensuring a smooth transition for any restaurateur. Beyond the kitchen, the restaurant features over 940 square feet of front-of-house space, providing ample room for seating and customer service. Adding to its appeal is an outdoor patio area on the north side, offering additional seating potential and enhancing the overall dining experience. The asking price for this fully equipped restaurant is $120,000. This property is zoned for commercial and restaurant use and presents a rare opportunity to establish or expand a successful food service business in a vibrant community. The building is ready for immediate occupancy, allowing for a quick start to your culinary endeavors. Don't miss this chance to own a thriving restaurant in Southern Illinois.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Cobden
    County
    Union
    State
    Illinois
    Longitude
    -89.2548824
    Latitude
    37.5344489

    Comparable in this City

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      Cobden, IL Commercial Property

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    • $240,000

      Cobden Commercial Land Investment

      Prime Cobden Retail Property, High Traffic
      220 Front St, Cobden, IL 62920
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    • Contact for pricing
      6,500 SF

      Mixed-Use Property with Retail Space

      Investment opportunity with apartments and retail space in Anna, IL.
      4575 E State Rte 146 Hwy, Anna, IL 62920
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    • $98,700
      2,040 SF

      Cobden Restaurant - Turnkey Opportunity

      Established pizzeria, fully equipped, high potential.
      215 Appleknocker St, Cobden, IL 62920
      View Details
    • $240,000
      5,318 SF

      Cobden Commercial Building - High Traffic

      Prime Cobden location, 5,318 sq ft, leased.
      220 Front St, Cobden, IL 62920
      View Details

    Similar Nearby for Sale

    • New
      $849,000
      6,000 SF

      Cobden, IL Commercial Property

      Southern Illinois property with restaurant and retail potential.
      8595 Us Highway 51, Cobden, IL 62920
      View Details
    • $240,000

      Cobden Commercial Land Investment

      Prime Cobden Retail Property, High Traffic
      220 Front St, Cobden, IL 62920
      View Details
    • Contact for pricing
      6,500 SF

      Mixed-Use Property with Retail Space

      Investment opportunity with apartments and retail space in Anna, IL.
      4575 E State Rte 146 Hwy, Anna, IL 62920
      View Details
    • $98,700
      2,040 SF

      Cobden Restaurant - Turnkey Opportunity

      Established pizzeria, fully equipped, high potential.
      215 Appleknocker St, Cobden, IL 62920
      View Details
    • $240,000
      5,318 SF

      Cobden Commercial Building - High Traffic

      Prime Cobden location, 5,318 sq ft, leased.
      220 Front St, Cobden, IL 62920
      View Details
    View Listing
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    Cobden, IL 62920
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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.

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