2003 W Monroe St - Fast Food FOR SALE


Springfield, IL 62704
$495,000 USD
217-547-6650
2003 W Monroe St, Springfield, IL for Sale
$495,000 USD
Fast Food - FOR SALE
1/7
null | Request Cap Rate

2003 W Monroe St
Springfield, IL 62704


HIGHLIGHTS

  • Dark Location | Redevelopment Opportunity
  • Drive-Thru and Outdoor Patio | Adds Value and Flexibility to Future Tenancy
  • Ideally Located at a High-Trafficked Signalized Intersection | Exceeding 24,600 Vehicles per Day
  • 0.8 Miles from Highway 97 Which has a Traffic Count of 20,500 Vehicles per Day
  • Less Than Two Miles from Two Hospitals | St. Johns Hospital & Children’s Hospital (382 Beds) and Memorial Medical Center (500 Beds)

OVERVIEW

Coldwell Banker Commercial Devonshire Realty (CBCDR) is pleased to present the opportunity to acquire a former Starbucks QSR property in Springfield, IL. The Seller holds fee simple interest in the asset, following Starbucks’ early lease termination with eight months remaining. This highly visible site offers an excellent redevelopment or repositioning opportunity for a Buyer seeking an affordable, well-located property. The existing improvements include a freestanding building featuring a drive-thru, outdoor patio, and “can’t miss” signage. The interior layout offers a secure vestibule, an open retail or dining area, two ADA-compliant restrooms, and a dedicated back-of-house area suitable for storage or non-commercial kitchen use. The property is strategically located near a signalized intersection with combined traffic counts of 24,600 AADT. It sits directly across from a grocery-anchored shopping center and is surrounded by a vibrant mix of neighborhood amenities, including extensive retail, multiple schools, and both public and private golf courses. Additionally, the site benefits from close proximity to Veterans Parkway—Springfield’s primary retail corridor and a major state highway—as well as Downtown Springfield, a walkable hub for government, healthcare, arts, culture, and historical landmarks. The property’s layout and location make it well suited for a variety of uses. Potential future uses include fast casual food and beverage concepts such as a coffee shop, bakery, or pizza establishment; light retail uses such as a boutique, mobile phone store, or convenience mart; and professional office space.

FOR SALE DETAILS

PRICE

$495,000 USD

PRICE/SF

$273 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Former Starbucks | QSR Redevelopment

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.34 AC

LAND SF

14,990 SF

ZONING

S-2

APN/PARCEL ID

14-32.0-103-041

ASK ABOUT THIS PROPERTY

Blake Pryor, CCIMColdwell Banker Commercial Devonshire RealtyMore Info
217-547-6650

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Blake Pryor, CCIMColdwell Banker Commercial Devonshire RealtyMore Info
217-547-6650

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