Technical
Financial
Distress signals
Property profile

504 Main St Varna, IL 61375

OFF-MARKET
Other commercial real estate
Property ID
US28-4462243
0.08 ac lot
Individually Owned Free & Clear
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Property summary

AI-generated overview

Remodeled bar and restaurant property originally developed in 2021, configured as a multifunctional establishment with distinct interior zones including a separate gaming room. The bar area features a custom 40-foot bar top, updated lighting and controls, and security and video surveillance technology, with 12-foot ceilings and a new tile floor. Key building systems and components were updated, including installation of a walk-in refrigerator in 2021 and improvements to insulation, plumbing, electrical, roof, and heating and cooling. The property is laid out to support day-to-day service with a dining area on the bar side that can be used for private parties, banquets, and live entertainment depending on operation. The building is associated with two separate property PIN numbers, allowing for purchase together or separately.

Property profile

Verified
Property type Other commercial real estate
Use group COMMERCIAL (GENERAL)
Lot 0.08 ac (3,640 SF)
APN 06-28-261-021
UPID US28-4462243

Cap rate & NOI

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

Location

504 Main St Varna, IL 61375-8900
Varna metro Census 961100 PEORIA, IL METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$255k
CAP Approach CAP
by Request
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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