Technical
Financial
Distress signals
Property profile

506 Main St Varna, IL 61375

OFF-MARKET
Other commercial real estate
Property ID
US28-4362637
0.07 ac lot
Individually Owned Free & Clear
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Property summary

AI-generated overview

The property is a remodeled commercial restaurant space with an adjoining bar, configured for food service and entertainment use. The improvements were developed into a restaurant and bar in 2021 and included updates to insulation, plumbing, electrical systems, the roof, and heating and cooling; the building also includes a walk-in refrigerator installed in 2021. The interior layout provides flexible, multi-use areas for dining and events, with accommodations suitable for private parties, banquets, and live entertainment. Separate access and/or ownership is indicated by two distinct property pin numbers corresponding to the restaurant portion and the adjoining bar portion, and the restaurant and bar functions can be retained together or separately as configured.

Property profile

Verified
Property type Other 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

Current use

Occupant on record · Public records
  • Social Service Agency

Location

506 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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