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    4001 Wabash Ave Springfield, IL 62711

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    For Sale
    $2,860,000

    NNN leased IHOP with established sales and rental increases.

    Property size:
    5,100 SF
    Lot size:
    1.17 Acres

    Property Features for 4001 Wabash Ave

    General Information

    Size
    5,100 SF
    Lot size
    1.17 Acres

    Source: Marcus & Millichap | Phoenix Agent Mark Ruble

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    IHOP NNN Lease Investment Opportunity

    This property is an IHOP restaurant with an absolute triple-net (NNN) lease. The lease has 16 years remaining with a top IHOP franchisee operating and guaranteeing the lease, with over 120 locations. Rental increases of 10 percent occur every five years, and the lease includes multiple renewal options. The location is established, with store sales exceeding IHOP’s average unit level performance. The surrounding area has a population of 75,124 residents and a daytime population of 110,094 within a 5-mile radius. Situated on a signalized hard corner, the property is easily accessible, with traffic exceeding 17,000 cars per day. The average household income in the immediate area exceeds $144,000. The property is a 5,100 square foot building located at 4001 Wabash Ave, Springfield, IL.
    Insight Report Location Intelligence

    Current Use by Public Records

    NASCAR Refuel Tenders ... Hamburger Restaurant TenderFix by Noah ... Chicken Restaurant IHOP American Restaurant

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.724135
    Latitude
    39.756557

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    FAQs

    What type of property is this?
    Breakfast & diner - NNN leased IHOP with established sales and rental increases.
    Where is this breakfast & diner located?
    The property is located at 4001 Wabash Ave Springfield, IL.
    What is the asking price?
    The asking price for this property is $2,860,000.
    What are key features of this property?
    This property features: - 16 Years Remaining on an Absolute Triple-Net (NNN) Lease with a Top IHOP Franchisee; - 10 Percent Rental Increases Every Five Years with Multiple Renewal Options; - Established Location - **Store Sales Exceed IHOP’s Average Unit Level Performance**
    (602) 770-2935
    Request Owner's contact information
    4001 Wabash Ave Springfield, IL 62711
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    Springfield, IL 62711
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4001 Wabash Ave Springfield, IL 62711
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