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27816257
27816414

801 6th St, Mendota, IL 61342

LE
IL 475.204597
Coldwell Banker Commercial Real Estate Group
Listed by Coldwell Banker Commercial Real Estate Group
$425,000
230 days on market
Updated 25 days ago

Turnkey Pizzeria & Sports Bar with 3 Apartments!

Details
APN 0133309020
Property Type Office
Square Footage 7,400
Net Rentable (SqFt) 3,700
Units 3
Cap Rate 3.32%
NOI $14,100
Occupancy 50%
Tenancy Multi
Lease Options MTM
Pro-Forma Cap Rate 14.61%
Pro-Forma NOI $62,100
Price per SqFt $57
Year Renovated 2014, 2021
Buildings 1
Stories 2
Lot Size (SqFt) 7,084
Zoning B-3
Investment Type Owner/User
Sale Condition For sale by owner

Restaurant + 3 apartments for SALE | Restaurant for LEASE | Move-in Ready

Marketing description

Turnkey Pizzeria & Sports Bar with 3 Apartments in Historic Downtown Mendota. Prime mixed-use opportunity in the heart of Mendota's walkable historic district. This 3,700 sf established pizzeria and sports bar features a full kitchen, bar area, a large dining room, and huge patio on the east side of the building with great street visibility. A complete renovation of the main floor was completed in 2014 and 2021, as well as the upstairs apartments. FFE seen during a showing are included in the sales price except for dishwasher unit. The kitchen features a walk-in cooler/freezer, Picard Spitfire 6 shelf pizza oven, prep areas with coolers, 6-burner gas stove, fryer, grill, convection oven, warming oven, misc. racks, cooking utensils and cookware, bakeware, and more listed in the Documents. The bar area features 12+ seats at the bar plus additional high top seating and is completely separated from the dining room. The dining room is family friendly and offers both booth and table seating for hungry customers. Your wait staff will be happy to have their own prep area directly off of the kitchen with beverage service and area for your POS as well. Upstairs are three updated apartments providing steady rental income of $2100/month. The apartments can be accessed from outside, or have a 2nd emergency egress through the dining area. There is a full basement with high ceilings and a street entrance that feature an office, additional storage and could be used for a separate lounge or club. Ideal for an owner-operator or investor seeking a vibrant downtown location surrounded by shops, events, and strong community traffic. This historic property was originally the old City Hall, Fire and Police Departments! The property is located within the Downtown TIF and eligible improvements may be covered under a facade grant. EM payable in certified funds to Coldwell Banker Real Estate Group. Property is FOR SALE only, no leases except owner/user.

Investment highlights

The entire building including 3 rented/occupied apartments, restaurant, bar, all FFE viewed at showing, large patio and full basement included in the sales price of the property. The restaurant is set up as a family friendly pizzeria with an attached sports bar. Once occupied the cap rate and NOI increases.

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Listing Contacts

LE
IL 475.204597
Coldwell Banker Commercial Real Estate Group
Listed by Coldwell Banker Commercial Real Estate Group

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$14,100.00
$1,175.00/mo

Valuation Metrics

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DSCR
3.32%
Cap Rate
3.32%
ROI

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Additional Information

Name
Leah Erickson
License
475.204597
Brokerage
Coldwell Banker Commercial Real Estate Group
Brokerage Phone
630-553-9000
Title
Commercial Broker
Brokerage Address
38 Countryside Parkway
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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