Freestanding Restaurant NNN
For Sale
Contact for pricing
2607 Blue Heron Drive, Marion, IL 62959
Freestanding, single-tenant restaurant building on a 1-acre lot with an Absolute NNN structure and a brand-new 10-year lease.
Property Size5,000 SF
Lot Size1.00 Acre
Price / SF$400
Days on Market99
Property Features for 2607 Blue Heron Drive
General Information
Standard status
Active
Size
5,000 SF
Total Parking Spaces
63
Lot size
1.00 Acre
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$145,000
Additional Details
Business Included
Yes
Building Details
Year Built
2016
Buildings
1
Tenancy
Single
Listing Agency:
Current Real Estate Advisors
Listed By:
Alejandro Snyder · License #FL BK3386095
(305) 783-8890
Source:
Crexi
Added: Jul 3
Changed: Oct 3
Last Checked: Oct 7 at 11:54AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Current Real Estate Advisors
Investment Insights
Based on property information with market context.
This offering is for IHOP – Marion, a freestanding, single-tenant restaurant building on a 1-acre lot in Marion, IL. The property is presented as an Absolute NNN investment, described as imposing zero landlord responsibilities, and is structured as a sale-leaseback transaction.
At closing, a brand-new 10-year lease will be executed, with 10% rental escalations every five years. The lease also includes four, 5-year renewal options, reflecting the operator’s long-term commitment to the location.
The building is described as approximately 5,000 square feet and is offered as part of a portfolio (with the ability to acquire this asset separately or together with other portfolio properties).
At closing, a brand-new 10-year lease will be executed, with 10% rental escalations every five years. The lease also includes four, 5-year renewal options, reflecting the operator’s long-term commitment to the location.
The building is described as approximately 5,000 square feet and is offered as part of a portfolio (with the ability to acquire this asset separately or together with other portfolio properties).
Key Highlights
- 2016‑built, freestanding IHOP single‑tenant restaurant building totaling 5,000 SF.
- Located on a 1‑acre lot in Marion, IL.
- Absolute NNN lease structure with zero landlord responsibilities.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,114
Cap Rate
3.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,362,280
$1.4M
Cap Rate 7%
$973,057
$973.1K
Cap Rate 9%
$756,822
$756.8K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$94.8K $18.96/SF
− Vacancy
−$4.0K −$0.80/SF
EGI
$90.8K $18.16/SF
− OpEx
−$22.7K −$4.54/SF
NOI
$68.1K $13.62/SF
Area
Williamson County, IL
Vacancy
4.20%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,362,280
Cap Rate 7%
$973,057
Cap Rate 9%
$756,822
Alternative Uses
Best Use
Specialty Retail
$973.1K
$851.4K – $1.14M
NOI $68,114 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$922.3K – $1.23M
NOI $73,786 @ 7.0% cap · market cap 3.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
396
Businesses Nearby
748k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 46%
Superstores 27%
Shops & Services 13%
Home Improvements & Furnishings 6%
Walmart
Superstores
116,760 visits/mo
0.4 miles
Sam's Club
Superstores
85,845 visits/mo
0.5 miles
7 Brew Coffee
Dining
49,066 visits/mo
0.5 miles
Menards
Home Improvements & Furnishings
45,692 visits/mo
0.4 miles
Raising Cane's Chicken Fingers
Dining
43,131 visits/mo
0.4 miles
Demographics for 62959, IL
27,629
Population
12,997
Households
2.1
Avg Household Size
43
Median Age
28%
College-Educated
92%
High-School Grad
143.0 sq mi
ZIP Area
193
Density / Sq Mi
$69,914
Median Household Income
$44,145
Median Earnings
$895
Median Rent
$166,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Freestanding, single-tenant restaurant building on a 1-acre lot with an Absolute NNN structure and a brand-new 10-year lease.
Where is this conventional restaurant located?
The property is located at 2607 Blue Heron Drive Marion, IL.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 2016‑built, freestanding IHOP single‑tenant restaurant building totaling 5,000 SF.; Located on a 1‑acre lot in Marion, IL.; Absolute NNN lease structure with zero landlord responsibilities.
