497 Berrien St, Galesburg, IL 61401-5077
This exceptional Galesburg commercial property presents a unique investment opportunity. Located at 497 E Berrien Street, this 5,100+ square foot building sits on a 0.34-acre lot and offers a diverse income stream. The main business is an established bar featuring a spacious bar area, comfortable seating, a dedicated gaming area, restrooms, and a small kitchen. Adding to the appeal is a pleasant outdoor beer garden, perfect for warmer months. Beyond the bar, the property includes two income-generating apartments, providing supplemental revenue. The building's versatile layout and ample space offer potential for expansion or adaptation to suit various business needs. The property is zoned M-1 Light Industrial, providing flexibility for future uses. Its excellent location offers easy access to both downtown Galesburg and the south side of town, ensuring high visibility and convenient access for patrons and residents. Priced at $95,000, this property represents a compelling opportunity for investors seeking a blend of established income and significant growth potential. The combination of a thriving bar, rental apartments, and prime location makes this a truly remarkable investment prospect. The property's size and zoning allow for a variety of future uses, making it an adaptable and valuable asset. Don't miss this chance to acquire a well-established and profitable commercial property in a desirable Galesburg location.
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The store Bar & Pub
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
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.