700 Broadway Ave E - Service Station FOR SALE


Mattoon, IL 61938
$1,195,000 USD
216-381-8200
700 Broadway Ave E, Mattoon, IL for Sale
$1,195,000 USD
Service Station - FOR SALE
1/4
null | 5.65% Cap Rate

700 Broadway Ave E
Mattoon, IL 61938


HIGHLIGHTS

  • Opportunity to invest in 15-year guaranteed corporate lease with Valvoline.
  • The facility is located near Dunkin Donuts and Cross County Mall.

OVERVIEW

For sale to qualified investors is the fee simple interest in a brand new, long-term corporate lease with Valvoline in Mattoon, Illinois. The corporately guaranteed lease (NYSE: VVV) features a firm 15 year term plus options, and provides the buyer with 10% increases every 5 years during the initial term and options. This will act as a hedge against inflation and provide future value and revenue growth for the investor. Structured as a ground lease, Valvoline is responsible for all maintenance, repairs, and replacements, rendering this asset as “hands-off” to the investor. The new prototypical facility is located adjacent to Dunkin Donuts and directly in front of the Cross County Mall, a healthy regional shopping center with Rural King, Dunham’s, Marshall’s, and Joann. Mattoon is the primary retail and service destination in the Mattoon-Charleston Micropolitan Statistical Area, which has a trade area population of 101,319 and currently draws from up to 30 miles. Because of this and Mattoon’s central location between Chicago and St. Louis, Lincoln Land of Sports, a $60 Million, 150-acre indoor and outdoor regional sports complex, is opening directly east of Valvoline and estimated to draw 580,000 new customers to the market and add over $23 Million in new direct spending.

FOR SALE DETAILS

PRICE

$1,195,000 USD

PRICE/SF

$239 USD /SF

CAP RATE

5.65%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Valvoline

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Service Station

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2025

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.97 AC

LAND SF

85,875 SF

ZONING

C-5

APN/PARCEL ID

06-0-00661-000

ASK ABOUT THIS PROPERTY

Kyle HartungGoodman Real Estate Services GroupMore Info
216-381-8200

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Kyle HartungGoodman Real Estate Services GroupMore Info
216-381-8200

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