3019 S Dirksen Pky - Restaurant FOR SALE


Springfield, IL 62703
$2,365,000 USD
954-857-4762
3019 S Dirksen Pky, Springfield, IL for Sale
$2,365,000 USD
Restaurant - FOR SALE
1/6
null | 5.75% Cap Rate

3019 S Dirksen Pky
Springfield, IL 62703


HIGHLIGHTS

  • Corporate-guaranteed lease | Panera operating since 2004 | Recently extended through Dec 2033 with two additional 5-year renewal options
  • Prime location near I-55/I-72 interchange | Traffic from government offices, hotels, convention centers, and national retailers
  • Placer.ai ranks location in the 82nd percentile nationally within Panera’s portfolio | Strong foot traffic and top-performing store
  • 10% rent increases every 5 years | Next escalation January 2029 | Built-in NOI growth and long-term yield protection
  • Illinois capital market | 30,000+ government employees | Stable economy supported by healthcare, education, and tourism
  • Drive-Thru Equipped Panera | Operating at This Location Since 2004 | Proven Long-Term Performance and Established Customer Base

OVERVIEW

This Panera Bread, located at 3019 S Dirksen Parkway in Springfield, Illinois, represents a high-quality single-tenant net lease investment backed by a corporate guarantee from Panera, LLC. With 20+ years of operating history and consistent lease renewals—including the most recent extension through December 2033—this asset reflects Panera’s enduring confidence in the site’s performance and strategic market relevance. Positioned at the key interchange of Interstate 55 and Interstate 72, the property sits within one of Springfield’s most active commercial and government corridors. It draws from a robust customer base of government employees, travelers, and hotel guests, as well as adjacent retail traffic from the Capital City Shopping Center and nearby national tenants. The surrounding trade area benefits from major traffic drivers including state agencies, convention centers, and regional healthcare hubs. The ±4,980 SF building on ±0.92 acres features a drive-thru, supports multiple income streams, and benefits from strong visibility and access along a corridor with 12,941 vehicles per day (VPD). Combined with built-in 10% rent increases every five years, long-term tenancy, and minimal landlord responsibilities, this property offers secure income in a recession-resistant market anchored by the state capital’s institutional presence.

FOR SALE DETAILS

PRICE

$2,365,000 USD

PRICE/SF

$576 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Fast Food, Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

54

LAND DETAILS

LAND ACRES

0.92 AC

LAND SF

40,075 SF

ZONING

-

APN/PARCEL ID

22-12.0-301-032

ASK ABOUT THIS PROPERTY

Evan WhelanNX3 Commercial GroupMore Info
954-857-4762

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Evan WhelanNX3 Commercial GroupMore Info
954-857-4762

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