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31086151
31086152

1351 S Dirksen Pkwy, Springfield, IL 62703

PC
CA 01894502
CBRE LA
Listed by CBRE LA
$2,569,655
79 days on market
Updated 79 days ago
Opportunity zone

Burger King

Details
Property Type Retail
Sub Type QSR/Fast Food
Square Footage 2,811
Cap Rate 5.8%
NOI $149,040
Occupancy 100%
Tenancy Single
Brand/Tenant Burger King
Lease Type Absolute NNN
Lease Term 20
Lease Expiration 07/31/2039
Remaining Term 13.2
Rent Bumps Yes
Lease Options Six 5-Year Options
Price per SqFt $914
Year Built 2019
Buildings 1
Acreage 1.410
Investment Type Net Lease
Tenant Credit Credit Rated, Franchisee
Lease Commencement 07/25/2019
Ownership Fee Simple

Retail | 5.80% CAP | 2,811 SqFt

Investment highlights

  • Irreplaceable Location | Property is located on a signalized hard corner which sees over 34,000 VPD and is the only pad to a 175,000 SF JCPenny which has over 270,000 visitors per year

  • Proximate to Freeways | Burger King is Ideally located across the street from the entrance to Interstate 55 and Route 29 which sees a combined 70,000 VPD and provides a centralized location to two busy thoroughfares

  • Fee Simple Ownership (Land and Building) | Depreciable asset

  • Absolute NNN Lease | Zero landlord responsibilities

  • Longstanding Commitment to Location | Tenant signed a brand new 20-year lease in 2019 with Six 5-year options

  • Lease Guarantee from Carrols LLC | Carrols was acquired by Burger King ‘s parent company, Restaurant Brands International (RBI) in 2024

Listing Contacts

PC
CA 01894502
CBRE LA
Listed by CBRE LA

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$149,040.00
$12,420.00/mo

Valuation Metrics

0
DSCR
5.8%
Cap Rate
5.8%
ROI

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