1030 Clock Tower Dr
Springfield, IL 62704
Absolute NNN Lease Long John Silver's and A&W · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Absolute NNN Lease with Zero Landlord Obligations
- Long Term Operating History since 1989
- 1-Mile Average HH Income $101,128
- Corporate Guarantee
- Prominent Hard Corner Location with Exceptional Visibility (40,600 Combined VPD)
EXECUTIVE SUMMARY
This is the opportunity to acquire a Long John
Silver's and A&W in Springfield, Illinois, on an absolute NNN lease. The lease
is set to expire in February 2025 and offers four 5-year renewal options. The
tenant has exercised the first option, split into two parts: 2A (2 years) and 2B
(3 years). This is followed by three additional 5-year options, each with a 10%
rent escalation.
The property is strategically located on a hard corner with excellent visibility,
benefiting from exposure to 4,000 vehicles per day (VPD) along Clock Tower
Drive and 16,200 VPD along Monroe Street. Additionally, the site enjoys
proximity to Veterans Parkway (Route 4), which carries over 24,000 VPD, and
is just a 10-minute drive from Downtown Springfield. Nearby amenities
include the Illini Country Club, a premier private club featuring an 18-hole
championship golf course, and Owen Marsh Elementary School, which serves
302 students.
Silver's and A&W in Springfield, Illinois, on an absolute NNN lease. The lease
is set to expire in February 2025 and offers four 5-year renewal options. The
tenant has exercised the first option, split into two parts: 2A (2 years) and 2B
(3 years). This is followed by three additional 5-year options, each with a 10%
rent escalation.
The property is strategically located on a hard corner with excellent visibility,
benefiting from exposure to 4,000 vehicles per day (VPD) along Clock Tower
Drive and 16,200 VPD along Monroe Street. Additionally, the site enjoys
proximity to Veterans Parkway (Route 4), which carries over 24,000 VPD, and
is just a 10-minute drive from Downtown Springfield. Nearby amenities
include the Illini Country Club, a premier private club featuring an 18-hole
championship golf course, and Owen Marsh Elementary School, which serves
302 students.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
3,000 SF
Building Class
C
Year Built
2000
Price
$604,000
Price Per SF
$201.33
Cap Rate
7.01%
NOI
$42,326
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
0.35 AC
AMENITIES
- Drive Thru
PROPERTY TAXES
| Parcel Number | 14-31.0-377-010 | Improvements Assessment | $79,301 |
| Land Assessment | $31,291 | Total Assessment | $110,592 |
