130 N 44th St - Restaurant FOR SALE


Mount Vernon, IL 62864
$1,204,167 USD
513-272-6800
130 N 44th St, Mount Vernon, IL for Sale
$1,204,167 USD
Restaurant - FOR SALE
1/6
null | 7.06% Cap Rate

130 N 44th St
Mount Vernon, IL 62864


HIGHLIGHTS

  • Dark but paying tenant provides current income while pursuing a long-term repositioning strategy
  • Potential to negotiate an early recapture, buyout, or replacement tenancy depending on ownership objectives
  • Opportunity to increase value through re-tenanting at market rents
  • Former Steak ’n Shake restaurant with existing drive-thru infrastructure and restaurant improvements in place
  • Ideal for owner-users seeking a turnkey conversion opportunity with significantly reduced buildout costs
  • Flexible building layout suitable for QSR, fast casual, coffee, dessert, medical retail, or other service-oriented users

OVERVIEW

Former 4,190 SF Steak ’n Shake restaurant on 0.93 acres in Mount Vernon’s primary retail corridor. The building has existing drive-thru infrastructure, restaurant improvements, ample parking, and strong visibility from major thoroughfares. The asset is currently dark, but the tenant continues to pay under an Absolute NNN lease at $85,000 annually until April 29, 2030, with two five-year renewal options remaining. Ideal for an owner-user seeking a turnkey conversion or an investor pursuing re-tenanting, buyout, or repositioning upside.

FOR SALE DETAILS

PRICE

$1,204,167 USD

PRICE/SF

$287 USD /SF

CAP RATE

7.06%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Steak n Shake

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2017

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.93 AC

LAND SF

40,511 SF

ZONING

B-3

APN/PARCEL ID

06-35-201-006

ASK ABOUT THIS PROPERTY

Christopher NachtrabLee & AssociatesMore Info
513-272-6800

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Christopher NachtrabLee & AssociatesMore Info
513-272-6800

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