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600 W Jefferson St 4,917 SF Retail Building Springfield, IL 62702 $1,993,800 ($405.49/SF) 7.08% Cap Rate
Investment Highlights
- Lease renewed in 2024 with annual 2% escalations through 2029
- Strong demographics: ~100,000 employees within 3-mile radius
- Strategic corner location with immediate proximity to Illinois State Capitol
- Located in Abraham Lincoln's historic hometown near major tourist attractions
Executive Summary
This offering presents an exceptional absolute NNN investment opportunity featuring a 4,917 SF freestanding Hardee’s restaurant. Situated on a substantial 1.38-acre parcel at the signalized intersection of West Jefferson Street and North Walnut Street, the property commands a premier position in Springfield's vibrant core with excellent visibility.
Ideally located just blocks from downtown and the Illinois State Capitol, the site benefits from traffic counts exceeding 28,794 VPD. The immediate trade area is robust, driven by government offices, medical centers, schools, and major tourist attractions, including the Abraham Lincoln Presidential Library and Museum.
Operated by Superior Star LLC with 93 locations across 11 states, the tenant has demonstrated a strong commitment to this location. The lease features attractive 2% annual rent escalations, providing investors with a hedge against inflation and guaranteed income growth.
Ideally located just blocks from downtown and the Illinois State Capitol, the site benefits from traffic counts exceeding 28,794 VPD. The immediate trade area is robust, driven by government offices, medical centers, schools, and major tourist attractions, including the Abraham Lincoln Presidential Library and Museum.
Operated by Superior Star LLC with 93 locations across 11 states, the tenant has demonstrated a strong commitment to this location. The lease features attractive 2% annual rent escalations, providing investors with a hedge against inflation and guaranteed income growth.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
4,917 SF
Building Class
B
Year Built
1994
Price
$1,993,800
Price Per SF
$405.49
Cap Rate
7.08%
NOI
$141,165
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
1.38 AC
Zoning
NEC - Commercial
Parking
80 Spaces (16.27 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 14-28.0-455-028 | Improvements Assessment | $126,022 |
| Land Assessment | $374,123 | Total Assessment | $500,145 |
Property Taxes
Parcel Number
14-28.0-455-028
Land Assessment
$374,123
Improvements Assessment
$126,022
Total Assessment
$500,145
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600 W Jefferson St
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