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.