Steak 'n Shake
Retail | 7.06% CAP | 4,190 SqFt
Marketing description
Introducing an exceptional investment opportunity at 130 North 44th Street, Mount Vernon, IL 62864! This property features a 4,190 SF building on 0.93 Acres with a current lease in place until April 29, 2030. The tenant, Steak 'n Shake, Inc., operates under a corporate lease with below-market rent and no landlord responsibilities, offering a hassle-free investment. With a strong tenant, this property boasts a CAP rate of 7.06% and a net operating income of $85,000/year. Located in Mount Vernon's primary retail corridor, this site benefits from high traffic counts of 42,800 VPD on I-57 and 19,300 VPD on SR-15, ensuring excellent visibility. The area's average household income within 5 miles is $78,104, further enhancing the property's value. Don't miss this opportunity to acquire a stable income-generating asset in a prime retail location. Contact us today for more details!
Investment highlights
- Current lease through April 29, 2030
- Rent increase in 2028
- 2 – Five Year Renewal Options
- Tenant: Steak ‘n Shake, Inc. (Corporate Lease, Subsidiary of Biglari Holdings Inc.)
- Below market rent
- Absolute NNN Lease – No Landlord Responsibilities
- Located in Mount Vernon’s primary retail corridor with national QSR co-tenants
- Parcels: 06-26-451-006, 06-26-451-007
- Jefferson County Seat with regional retail draw
- Average Household Income within 5 miles: $78,104
- Rent Per SF: $17.57
- Monthly Rent: $7,083.33 (Current)
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