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    OFF-MARKET
    Commercial real estate

    504 Main St, Varna, IL 61375-8900

    0.08 ac lot
    Individually Owned Free & Clear
    Property ID
    US28-4462243
    Property summary
    AI-generated overview

    This exceptional investment opportunity presents a fully stocked, turnkey restaurant with an adjoining bar located at 504 Main Street, Varna, IL. The property, custom remodeled in 2021, boasts 2,424 square feet and offers significant income potential. The restaurant and bar are housed in a single building, but have separate property identification numbers, allowing for individual or combined purchase. The sale includes all fixtures, furniture, and equipment (FF&E), the majority of which were purchased new in 2021. Recent upgrades include updated insulation, plumbing, electrical systems, roof, heating, and cooling, as well as a new walk-in refrigerator (2021). The spacious dining area provides versatility, suitable for private parties, banquets, or live music events. The property's prime location is less than 10 miles from Lake Wildwood, offering additional market access. This multi-functional space presents a rare chance to acquire an established, profitable business with significant upside. A detailed inventory of included equipment and amenities is available. This is a truly remarkable opportunity for a savvy investor seeking a high-return property with multiple income streams. The asking price is $75,000.

    Property profile
    Verified
    Property type 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
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
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    Blend (final) Blend
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    Owner & transaction history
    JOSEPH L CROCKER
    JOSEPH L CROCKER
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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