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Property profile & analytics
OFF-MARKET
Commercial real estate

506 Main St Varna, IL 61375-8900

0.07 ac lot
Individually Owned Free & Clear
Property ID
US28-4362637
Property summary
AI-generated overview

This exceptional investment opportunity presents a fully stocked, turnkey bar with an adjoining restaurant space in Varna, Illinois. Located at 506 Main Street, this meticulously maintained property boasts 2,626 square feet and underwent a complete custom remodel in 2021. The building features two separate property pin numbers, allowing for the potential purchase of the bar and restaurant individually or together. The sale includes all equipment, supplies, and the existing business, with a detailed inventory available. Major upgrades completed in 2021 include updated insulation, plumbing, electrical systems, roofing, heating, cooling, and a new walk-in refrigerator. The bar itself is a showstopper, featuring a custom-built 40-foot stained and lacquered bar top, state-of-the-art multi-lighting controls, and advanced security and video surveillance systems. Additional highlights include 12-foot ceilings, new tile flooring, a separate gaming room, and ample seating. The dining area offers versatile income potential, ideal for private parties, banquets, and live music events. Less than 10 miles from Lake Wildwood, this property presents a unique opportunity for a high-return investment in a desirable location. All equipment and amenities, primarily purchased in 2021, are included in the sale.

Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Lot 0.07 ac (3,120 SF)
APN 06-28-261-020
UPID US28-4362637
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
Current use
Occupant on record · Public records
  • Varna Funeral Home Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
JOSEPH L CROCKER
JOSEPH L CROCKER
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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