401 E Sangamon Ave - Fast Food FOR SALE
Petersburg, IL 62675 |
$830,100 USD
214-295-8753
401 E Sangamon Ave
Petersburg, IL 62675
HIGHLIGHTS
- Absolute Triple Net (NNN) Lease: True NNN structure requiring no landlord responsibilities; tenant is solely responsible for all maintenance
- Strong Franchisee Guarantee: Lease guaranteed by StarCorp, LLC—one of the largest Hardee’s franchisees in the U.S.—operating approximately 150 units
- Long-Term Lease with Rent Growth: Original 20-year lease term with ±11 years remaining, expiring December 31, 2036.
- Below-Market Rent: Current rent of $57,941 annually (approximately $22.60 per square foot) is significantly below market for comparable QSR drive-thru
- Attractive 1031 Exchange Opportunity: Ideal for investors seeking a low-management, income-generating asset suitable for small-balance 1031 exchanges
FOR SALE DETAILS
PRICE
$830,100 USD
PRICE/SF
$324 USD /SF
CAP RATE
6.98%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Hardee's
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Fast Food
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1996
SPRINKLERS
-
PARKING SPACES
-
LAND DETAILS
LAND ACRES
1.25 AC
LAND SF
54,450 SF
ZONING
-
APN/PARCEL ID
11-13-104-007
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214-295-8753
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214-295-8753
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