Dine in / Carry out Restaurant & Apartment

Retail-Commercial for Sale
Catylist Listing ID: 30744463
Property Subtypes: Mixed Use, Restaurant, Tavern/Bar/Nightclub
Building Size (RSF): 5,034 SF
Gross Building Area: See Agent
Gross Land Area: 1,969 SF
Sale Price: $550,000
Unit Price: $109.26 PSF
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User, Business
Building Name: Maria's Pizza
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/21/2021

Overview / Comments

Historic Downtown Belvidere. City of Murals. Restaurant with Apartment and Business for sale. Currently is a established Pizza Restaurant with Dining Area with 7 booths with bench seating and 6 tables with chair seating. Also has a Service Bar counter. Full service Kitchen was installed in 1999 $120,000 - Also New wall tile, New bathrooms, 11ft hood walk in freezer. $30,000 new tile in 2018. Basement is Clean and dry and set up with a walk in cooler, storage, soda storage, extra supplies ext. Current owners have been running since 1998. The building is well cared for. Many updates and improvements. This is a turn key operation. Owners are willing to train new owners if they want to keep it a pizza establishment. Apartment upstairs was fully renovated in 2005. This is just an added bonus featuring 4 Bedrooms, Full Kitchen you have to see, Living Room, Dinning Room, Full Bath Room, Deck off Kitchen and laundry Room. Apartment has separate entrance to rear and access to Restaurant Kitchen. Many walk in Closets. Full list of improvements and updates upon request. Real Estate and Fixtures is listed for sale at $450,000 and Business Business equipment and training at $100,000. Owners have been running for over 20 years. This would be great for owner operator with the apartment upstairs for additional income or for live in owners. Free Parking in front and Free city parking lot across the street for additional parking.

Additional Details

Nearest MSA: Rockford
County: Boone
Tax ID/APN: 0526433019
Zoning: CB
Property Located Between: Across from Free City Parking Lot Between River and Lincoln
Largest Nearby Street: I90 & US 20
Feet of Frontage: 20
Highway Access: I90 US 20
Airports: Chicago Rockford International Airport, 2 Airport Cir, Rockford, IL 61109 & Poplar Grorve Air Port
Site Description: Located in Historic Downtown Belvidere. Just steps to the Kishwaukee River on State St.
Area Description: Downtown Historic Belvidere
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 1,620 SF
Property Condition: Excellent
Year Built: 1936
Year Renovated: 2005
Construction/Siding: Brick
Parking Description: Parking in front of Property along State St and additional parking across State Street in Free Municipal Parking lot
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Other
Internet Access: Cable, Fiber Optic
Zoning Description: Central Business District Zoning.
Lot Frontage: 20
Lot Depth: 100
Water Service: Municipal
Sewer Type: Municipal
Legal Description: 26-44-3 (EX OT OF LT 14 WLY OF ALY) LT 14 ASSRS SUR OF S P DOTYS RES 132 N STATE ST

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,674 25,906 36,091
Median Age: 32.86 34.15 36.94
Households: 4,529 8,954 12,516


Photograph of Listing Agent

Gerard F Du Melle

Weichert Realtors Tovar Properties
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