4001 Wabash Ave - Restaurant FOR SALE


Springfield, IL 62711
$2,860,000 USD
602-687-6766
4001 Wabash Ave, Springfield, IL for Sale
$2,860,000 USD
Restaurant - FOR SALE
1/5
null | 6% Cap Rate

4001 Wabash Ave
Springfield, IL 62711


HIGHLIGHTS

  • 16 Years Remaining on an Absolute Triple-Net (NNN) Lease with a Top IHOP Franchisee - 120+ Location Operator/Guarantor
  • 10 Percent Rental Increases Every Five Years with Multiple Renewal Options
  • Established Location - Store Sales are in Excess of IHOP’s Average Unit Level Performance
  • 75,124 Residents and 110,094 Daytime Population within a 5-Mile Radius
  • Signalized Hard Corner Location, Easily Accessible by More Than 17,000 Cars per Day
  • Average Household Income Exceeds $144,000 in the Immediate Area

OVERVIEW

IHOP® competes in the Family Dining segment of the restaurant industry, and all IHOP restaurants are owned by independent franchise operators. Headquartered in Phoenix, Arizona, Romulus Restaurant Group operates IHOP restaurants in Arizona, Idaho, Oklahoma, Kansas, Texas, New Mexico, Indiana, Illinois, Tennessee, and Ohio. Springfield is the capital of Illinois and the county seat of Sangamon County. The city is the state’s sixth most-populous city, the second largest outside of the Chicago metropolitan area, and the largest in central Illinois. Illinois Broker of Record: Steven Weinstock | One Mid America Plaza, Ste. 200 Oakbrook Terrace, IL 60181 | P: (630) 570-2200 | Lic #: 471.011175 | Steven.Weinstock@MarcusMillichap.com

FOR SALE DETAILS

PRICE

$2,860,000 USD

PRICE/SF

$561 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

IHOP - 16 Yr Lease w/ 120 Unit Guarantor

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2018

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.17 AC

LAND SF

50,965 SF

ZONING

-

APN/PARCEL ID

21-11.0-457-010

ASK ABOUT THIS PROPERTY

Mark RubleMarcus & MillichapMore Info
602-687-6766

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Mark RubleMarcus & MillichapMore Info
602-687-6766

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