1030 Clock Tower Dr
Springfield, IL 62704
 Absolute NNN Lease Long John Silver's and A&W ยท 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.

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

TRAFFIC

COLLECTION STREET CROSS STREET TRAFFIC VOLUME YEAR Distance
Clocktower Dr S Durkin Dr, N 4,171 2024 0.06 mi
Clocktower Drive S Durkin Dr, N 4,171 2025 0.11 mi
S Durkin Dr W Monroe St, S 800 2024 0.11 mi
W Monroe St S Veterans Pkwy, SW 18,484 2023 0.11 mi
West Monroe Street S Veterans Pkwy, SW 18,715 2025 0.11 mi
Old Jacksonville Road Centre West Dr, SE 5,834 2025 0.12 mi
Old Jacksonville Rd Centre West Dr, SE 5,919 2023 0.12 mi
South Durkin Drive W Monroe St, S 2,365 2025 0.13 mi
West Monroe Street Larchmont Dr, NE 17,485 2025 0.17 mi
W Monroe St Larchmont Dr, NE 17,678 2023 0.17 mi

PROPERTY TAXES

Parcel Number 14-31.0-377-010 Improvements Assessment $79,301
Land Assessment $31,291 Total Assessment $110,592

MAP

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