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28286259
28286260

1277 N 7th St, Riverton, IL 62561

BP
IL 475159138
Coldwell Banker Commercial Devonshire Realty
Listed by Coldwell Banker Commercial Devonshire Realty
$1,700,000
204 days on market
Updated 89 days ago

Core-Plus Grocery-Anchored Neighborhood Shopping Center

Details
APN 15040476012, 15040476013
Property Type Retail
Sub Type Grocery Store, Pharmacy/Drug (+1)
Square Footage 30,711
Cap Rate 7.06%
NOI $120,063
Occupancy 100%
Tenancy Multi
Lease Type Modified
Lease Term 11.6
Lease Expiration 11/30/2034
Remaining Term 8.5
Rent Bumps Yes
Lease Options Yes
Pro-Forma Cap Rate 7.06%
Pro-Forma NOI $120,063
Price per SqFt $55
Broker Co-Op Yes
Class C
Year Built 1979
Buildings 1
Stories 1
Acreage 5.430
Zoning C-1, Commercial District (Riverton)
Parking Spaces 77 spaces
Parking Per SqFt 2.51
Investment Type Core+
Tenant Credit No Credit Rating
Lease Commencement 05/01/2023

30,711 SF - Core+ Grocery-Anchored Center - Value-Add Pad Site Included - Stable Occupancy

Marketing description

Coldwell Banker Commercial Devonshire Realty (CBCDR) is proud to present an exceptional opportunity to acquire a Core-Plus Grocery-Anchored Shopping Center – 30,711-square-foot retail center with an adjacent 0.87-acre pad site (the “Property”) in Riverton, IL, part of the Springfield MSA.

The Property features a diverse mix of long-term, service-oriented, and e-commerce–resistant tenants, many of whom have occupied their spaces for years—showcasing both strong tenant loyalty and lasting community appeal. Built in 1979, the center has consistently maintained high occupancy levels, providing investors with stable income, and the 0.87-acre pad site offers additional upside and is ready for development. The site could support a range of uses—such as multi-family housing, an office or retail building, or a quick-service restaurant (QSR)—creating opportunities to further expand the Property’s revenue base and overall value

Location Description

Ideally located near the heart of Riverton, the Property benefits from close proximity to key community amenities including residential neighborhoods, schools, and churches. It is easily accessible via North 7th Street, with convenient connections to state routes and Interstate 72. The Property serves a trade area of more than 23,000 residents within a five-mile radius, with an average household income of over $104,000.

Investment highlights

  • Core-Plus Grocery-Anchored Center

  • Value-Add 0.87 AC Pad Site

  • Strong, Service-Oriented Tenant Mix

  • Proven Stable Occupancy

  • Excellent Location in Springfield MSA

  • Attractive Demographics, Trade Area

Listing Contacts

BP
IL 475159138
Coldwell Banker Commercial Devonshire Realty
Listed by Coldwell Banker Commercial Devonshire Realty

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$120,063.00
$10,005.25/mo

Valuation Metrics

0
DSCR
7.06%
Cap Rate
7.06%
ROI

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Additional Information

Name
Blake Pryor
License
475159138
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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