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1351 S Dirksen Pky
Springfield, IL 62703
Retail Property For Sale
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
- Longstanding Commitment to Location | Tenant signed a brand new 20-year lease in 2019 with Six 5-year options
- Property Equipped with Double Drive-Thru | Property open 19.5 hours per day
- Proximate to Freeways | Burger King is located across the street from Interstate 55 and Route 29 which sees a combined 70,000 VPD
- Lease Guarantee from Carrols LLC | Carrols was acquired by Burger King ‘s parent company, Restaurant Brands International (RBI) in 2024
- Absolute NNN Lease | Zero landlord responsibilities
Executive Summary
CBRE is pleased to present a Burger King for sale located at 1351 S Dirksen Pkwy in Springfield, IL . The property includes a 2,811 SF building on an oversized 1.41 ACRE lot with a double drive-thru and benefits from being situated on a signalized hard corner (S Dirksen Pkwy and S Grand Ave E), which sees over 34,000 VPD. The tenant signed a brand new 20-year Lease in 2019, and there are currently 14+ years remaining on the lease with Six 5-Year Options, showing a longstanding commitment to this location and market. The property is surrounded by notable retailers such as JCPenney, AutoZone, Caliber Collision, and many more.
The tenant operates under an Absolute NNN Lease with zero Landlord responsibilities whatsoever. The Lease is guaranteed by Carrols LLC. Carrols was acquired by Burger King‘s parent company, Restaurant Brands International (RBI), in 2024. Restaurant Brands International is one of the world’s largest quick-service restaurant companies with approximately $23 billion in system sales and over 18,000 restaurants in 100 countries. Restaurant Brands International owns two of the world’s most prominent and iconic quick service restaurant brands – Tim Hortons® and Burger King®. These independently operated brands have been serving their respective guests, franchisees, and communities for over 50 years.
The tenant operates under an Absolute NNN Lease with zero Landlord responsibilities whatsoever. The Lease is guaranteed by Carrols LLC. Carrols was acquired by Burger King‘s parent company, Restaurant Brands International (RBI), in 2024. Restaurant Brands International is one of the world’s largest quick-service restaurant companies with approximately $23 billion in system sales and over 18,000 restaurants in 100 countries. Restaurant Brands International owns two of the world’s most prominent and iconic quick service restaurant brands – Tim Hortons® and Burger King®. These independently operated brands have been serving their respective guests, franchisees, and communities for over 50 years.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,811 SF
Building Class
B
Year Built
2019
Price
$2,569,655
Price Per SF
$914.14
Cap Rate
5.80%
NOI
$149,040
Tenancy
Single
Building Height
1 Story
Lot Size
21.86 AC
Opportunity Zone
Yes
Zoning
C - Commercial
Parking
24 Spaces (8.54 Spaces per 1,000 SF Leased)
Frontage
80’ on South Dirksen Parkway
Amenities
- Signage
Property Taxes
| Parcel Number | 14-36.0-351-038 | Improvements Assessment | $22,693 |
| Land Assessment | $180,848 | Total Assessment | $203,541 |
Property Taxes
Parcel Number
14-36.0-351-038
Land Assessment
$180,848
Improvements Assessment
$22,693
Total Assessment
$203,541
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