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Papa John's/Advance America 302-306 W Fairchild St 3,000 SF 100% Leased Retail Building Danville, IL 61832 $731,300 ($243.77/SF) 8.50% Cap Rate
Investment Highlights
- One of the largest Private Papa John’s franchisees in North America with 275+ locations.
- Situated at the signalized southeast corner of Gilbert Street and Fairchild Street, which sees traffic of over 29,000 VPD.
- NNN Leases with built-in increases
- Papa John’s ranks in the 98th percentile Nationwide (Placer.ai).
- The Joint Smoke Shop is a well-known regional operator in Illinois and Indiana.
- Adjacent is a high performing Dollar General that ranks in the 98th percentile Nationwide (Placer.ai).
Executive Summary
Bellagio Real Estate Partners, LLC is pleased to present a 100% occupied, two-tenant retail property located at the signalized corner of Gilbert Street and Fairchild Street.
The property is leased to Bajco 100, LLC, one of the largest private franchisees of Papa Johns in North America with 275+ locations, and The Joint Smoke Shop, a
growing regional operator with five locations across Illinois and Indiana. The asset benefits from strong visibility, convenient access from both Gilbert Street and
Fairchild Street, and ample on-site parking with over 35 spaces. Positioned adjacent to a high-performing Dollar General ranking in the 98th percentile nationwide
(Placer.ai), the property is surrounded by national retailers including Walgreens, CVS, Dollar Tree, Hardee’s, Sonic, Domino’s, and AutoZone. The surrounding trade area is
supported by over 40,000 residents within a five-mile radius. Featuring long-term leases with built-in rent growth, this broker-owned offering presents a stabilized,
low-management investment in e-commerce-resistant retail categories within a strong neighborhood retail corridor.
The property is leased to Bajco 100, LLC, one of the largest private franchisees of Papa Johns in North America with 275+ locations, and The Joint Smoke Shop, a
growing regional operator with five locations across Illinois and Indiana. The asset benefits from strong visibility, convenient access from both Gilbert Street and
Fairchild Street, and ample on-site parking with over 35 spaces. Positioned adjacent to a high-performing Dollar General ranking in the 98th percentile nationwide
(Placer.ai), the property is surrounded by national retailers including Walgreens, CVS, Dollar Tree, Hardee’s, Sonic, Domino’s, and AutoZone. The surrounding trade area is
supported by over 40,000 residents within a five-mile radius. Featuring long-term leases with built-in rent growth, this broker-owned offering presents a stabilized,
low-management investment in e-commerce-resistant retail categories within a strong neighborhood retail corridor.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront
Building Size
3,000 SF
Building Class
C
Year Built
1991
Price
$731,300
Price Per SF
$243.77
Cap Rate
8.50%
NOI
$62,159
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.10
Lot Size
0.67 AC
Zoning
B3 - General Business
Parking
48 Spaces (16 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Signage
- Signalized Intersection
Walk Score®
Very Walkable (79)
Nearby Major Retailers
Property Taxes
| Parcel Number | 23-05-311-005 | Improvements Assessment | $71,629 |
| Land Assessment | $69,523 | Total Assessment | $141,152 |
Property Taxes
Parcel Number
23-05-311-005
Land Assessment
$69,523
Improvements Assessment
$71,629
Total Assessment
$141,152
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Papa John's/Advance America | 302-306 W Fairchild St
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