1030 Clock Tower Dr - Fast Food FOR SALE


Springfield, IL 62704
$604,000 USD
949-942-6585
1030 Clock Tower Dr, Springfield, IL for Sale
$604,000 USD
Fast Food - FOR SALE
1/2
null | 7.01% Cap Rate

1030 Clock Tower Dr
Springfield, IL 62704


HIGHLIGHTS

  • Absolute NNN Lease with Zero Landlord Obligations
  • Corporate Guarantee
  • Long Term Operating History since 1989
  • Prominent Hard Corner Location with Exceptional Visibility (40,600 Combined VPD)
  • 1-Mile Average HH Income $101,128

OVERVIEW

This is the opportunity to acquire a Long John Silver's and A&W in Springfield, Illinois, on an absolute NNN lease. The lease is set to expire in February 2025 and offers four 5-year renewal options. The tenant has exercised the first option, split into two parts: 2A (2 years) and 2B (3 years). This is followed by three additional 5-year options, each with a 10% rent escalation. The property is strategically located on a hard corner with excellent visibility, benefiting from exposure to 4,000 vehicles per day (VPD) along Clock Tower Drive and 16,200 VPD along Monroe Street. Additionally, the site enjoys proximity to Veterans Parkway (Route 4), which carries over 24,000 VPD, and is just a 10-minute drive from Downtown Springfield. Nearby amenities include the Illini Country Club, a premier private club featuring an 18-hole championship golf course, and Owen Marsh Elementary School, which serves 302 students.

FOR SALE DETAILS

PRICE

$604,000 USD

PRICE/SF

$201 USD /SF

CAP RATE

7.01%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Absolute NNN Lease Long John Silver's and A&W

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,246 SF

ZONING

-

APN/PARCEL ID

14-31.0-377-010

ASK ABOUT THIS PROPERTY

Scott ReidParaSell, Inc.More Info
949-942-6585

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Scott ReidParaSell, Inc.More Info
949-942-6585

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.