2400 W Wabash Ave - Freestanding FOR SALE


Springfield, IL 62704
$3,225,000 USD
612-432-9935
2400 W Wabash Ave, Springfield, IL for Sale
$3,225,000 USD
Freestanding - FOR SALE
1/6
null | 7.05% Cap Rate

2400 W Wabash Ave
Springfield, IL 62704


HIGHLIGHTS

  • AT&T boasts 15+ years of historical occupancy at the site and is ranked in the 94th percentile by visitation.
  • Long-term, best-in-class operator who invested north of $250,000 into their space.
  • Unused 1,200 SF commercial garage in the rear of the building that can be rented to increase cash flow or utilized by ownership.
  • A population of over 108,000 within a 5-mile radius.
  • Maintaining strong performance with occupancy levels exceeding 95%.
  • The property is located in Springfield, IL, the state’s political and economic center.

OVERVIEW

Sands Investment Group is pleased to exclusively offer for sale the corporate guaranteed AT&T anchored two-tenant retail center located at 2400 W Wabash Ave, Springfield, IL. The property features a Triple Net (NNN) Lease with (±) 15 years of the historical occupancy. This asset is positioned off of Wabash Ave, the main retail thoroughfare in Springfield. The property consists of both a strong national and established local tenant and would prove to be an excellent long-term investment opportunity. In Cooperation With Sands Investment Group Illinois, LLC - Lic. #481013714 BoR: Andrew Ackerman - Lic. IL #471021429

FOR SALE DETAILS

PRICE

$3,225,000 USD

PRICE/SF

$313 USD /SF

CAP RATE

7.05%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

AT&T Anchored Two-Tenant Retail Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

37

LAND DETAILS

LAND ACRES

0.73 AC

LAND SF

31,799 SF

ZONING

C

APN/PARCEL ID

22-07.0-325-018

ASK ABOUT THIS PROPERTY

Evan BeesonSands Investment GroupMore Info
612-432-9935

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Evan BeesonSands Investment GroupMore Info
612-432-9935

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