2607 Blue Heron Dr - Restaurant FOR SALE


Marion, IL 62959
$2,000,000 USD
516-428-6050
2607 Blue Heron Dr, Marion, IL for Sale
$2,000,000 USD
Restaurant - FOR SALE
1/7
null | 7.25% Cap Rate

2607 Blue Heron Dr
Marion, IL 62959


OVERVIEW

Current Real Estate Advisors is pleased to present the opportunity to acquire IHOP - Marion (the "Property"), a freestanding, single-tenant ±5,000 SF building located on a 1 acre lot in Marion, IL. The Property benefits from an Absolute NNN lease, imposing zero landlord responsibilities and delivering a fully passive income stream. This asset is part of a Portfolio (see Page 3 for details) and may be acquired separately or together. This offering is structured as a Sale-Leaseback transaction, with a brand-new 10-year lease to be executed at closing, featuring 10% rental escalations every five years and 4, 5-year renewal options—reflecting the operator's long-term commitment to and confidence in this location. The Tenant is a proven, multi-concept operator with an established track record across multiple brands and franchise systems. The Property is a strong performer, evidenced by healthy unit-level sales and a favorable Rent-to-Sales ratio—underscoring the durability and resilience of the underlying cash flow. IHOP – Marion represents a compelling opportunity to acquire income-producing real estate within established Midwest market, backed by a committed operator and underpinned by a stable, long-term passive income stream.

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$400 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

IHOP - 24 Hour Location

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2016

SPRINKLERS

-

PARKING SPACES

63

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

-

APN/PARCEL ID

06-11-351-001

ASK ABOUT THIS PROPERTY

Michael WilliamsCurrent Real Estate AdvisorsMore Info
516-428-6050

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Michael WilliamsCurrent Real Estate AdvisorsMore Info
516-428-6050

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