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23545422
23507827

994 US-51, Forsyth, IL 62535

PF
IL 475118789
Matthews
HW
IL 475208034
Matthews
NS
IL IL 475210757
Matthews
LC
IL 475.211358
MN
CO 100103302
Matthews
Listed by Matthews
$2,348,000
192 days on market
Updated 24 days ago

Five Below - Forsyth, IL

Details
Property Type Retail
Sub Type Convenience Store, Storefront (+1)
Square Footage 11,350
Cap Rate 7.25%
NOI $170,250
Occupancy 100%
Tenancy Single
Brand/Tenant Five Below
Lease Type NNN
Lease Expiration 01/31/2035
Remaining Term 10
Rent Bumps Yes
Lease Options Three, 5-Year
Class A
Year Built 2024
Year Renovated 2024
Buildings 1
Acreage 1.470
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 11/19/2024
Occupancy Date 11/19/2024
Ground Lease No

NEW 10-YEAR LEASE | 7.00% CAP | $6.32B CORPORATE CREDIT

Marketing description

Matthews Real Estate Investment Services is pleased to offer for sale to qualified investors the opportunity to purchase a fee-simple interest in the Five Below located in Forsyth, IL (Decatur MSA). The property consists of an 11,350-square-foot freestanding building on a 1.49-acre site, remodeled in 2024, operating under a brand-new 10-year NNN lease with minimal landlord obligations, delivering passive income to investors.

The lease is backed by a corporate guarantee from Five Below, Inc. (NASDAQ: FIVE), one of the fastest-growing discount retailers in the U.S., generating $3.56 billion in revenue in 2024, a 15.7% increase over 2023, across 1,777+ stores in 45 states. The retailer’s rising popularity is driving its store count expansion through strategic growth initiatives, with plans to reach 3,500 locations by 2030.

The store’s prime location is strategically positioned as an outparcel to a Lowe’s and Staples-anchored retail center. The site features high visibility and exposure at a signalized intersection along US-51, the area’s primary commercial corridor. Nearby retailers include Chick-fil-A (new 2025), Panda Express (new 2024), Ross Dress for Less, Ulta, Kohl’s, Hobby Lobby, T.J. Maxx, Buffalo Wild Wings, Texas Roadhouse, Taco Bell, Best Buy, PetSmart, Dollar Tree, and more.

Major Economic Developments in the Area (Last 3 Years):

  • ADM (Archer Daniels Midland): A global food processing leader with 4,000+ local employees, completing a $300 million expansion to boost alternative protein production.

  • Primient: A major producer of food and industrial products with 1,500+ local employees, recently investing $400 million to support bioeconomic initiatives and infrastructure upgrades.

  • TCCI Manufacturing: A leading manufacturer of EV compressors, investing $20 million to build a new manufacturing hub and innovation facility in Decatur.

  • McLeod Express: One of the region’s largest transportation companies, currently constructing a 611,000-square-foot trucking warehouse.

  • Innovafeed: A biotech company operating the world’s largest insect production facility, which was recently awarded an $11.7 million grant to expand its bug-based sustainable fertilizer production.

Forsyth, IL, serves as the region's primary retail hub, drawing significant consumer traffic from Decatur and surrounding areas. This property presents a unique opportunity to acquire a high-quality retail asset in a growing market, supported by strong national tenancy, minimal landlord responsibilities, and robust local economic growth.

Investment highlights

LONG TERM 10-YEAR LEASE WITH CORPORATE GUARANTEE:

  • Five Below features a brand new 10-year lease with three 5-year options to renew

  • The lease is backed by Five Below, Inc. (NASDAQ: FIVE), one of the fastest growing discount retailers in the US

  • Generated $3.56 billion in Revenue in 2024, a 15.7% increase over 2023

  • There are 1,777 stores across 45 states, an 18.1% increase over 2023

  • Expecting a total of 3,500 locations by 2030

BRAND NEW 2024 RENOVATION:

  • Five Below is a newly renovated building as of 2024

  • The new renovation offers minimal capex exposure and long-term roof warranties to the next investor

  • 20-Year Roof Warranty

STRATEGIC LOCATION WITH HIGH VISIBILTY:

  • Outparcel to a Lowe’s and Staples-anchored retail center at a signalized intersection

  • Unobstructed visibility on US Highway 51 where there are over 28,000 vehicles passing by each day

  • One mile from the Interstate 72 interchange – a major interstate connecting Decatur with Champaign and Springfield, IL

PROMINENT RETAIL CORRIDOR & SURROUNDING DRIVERS:

  • Major national retailers in the immediate area include nationally recognized brands Kohl’s, Ross Dress for Less, Ulta, Hobby Lobby, T.J. Maxx, Buffalo Wild Wings, Texas Roadhouse, Applebee’s, Taco Bell, Best Buy, PetSmart, Dollar Tree and more

  • Nearby Hickory Point Mall drew 2.5 million visitors in the past 12 months

  • Within one mile of the Subject Property, there are nearly 800 hotel rooms across 10 hotels, including Baymont by Wyndham, Holiday Inn & Suites, Hampton Inn, and Fairfield Inn

STRONG DEMOGRAPHICS

  • Nearly 40,000 people live within five miles and over 50,000 people work within five miles

  • Within one mile, the Average Household Income is $122,800

Listing Contacts

PF
IL 475118789
Matthews
HW
IL 475208034
Matthews
NS
IL IL 475210757
Matthews
LC
IL 475.211358
MN
CO 100103302
Matthews
Listed by Matthews

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$170,250.00
$14,187.50/mo

Valuation Metrics

0
DSCR
7.25%
Cap Rate
7.25%
ROI

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Additional Information

Name
Matthew M. Fitzgerald
License
478027547
Brokerage
Matthews Real Estate Investment Services, Inc
Brokerage Phone
(866) 889-0550
Title
Broker of Record
Brokerage Address
1600 West End, Ste. 1500 Nashville, TN 37203
Name
Patrick Forkin
License
475118789
Brokerage
Matthews Real Estate
Title
Real Estate Broker
Name
Hogan Wierda
License
475208034
Name
Nick Seltzer
License
IL 475210757
Name
lee chandler
License
475.211358
Brokerage Phone
(866) 889-0550
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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