700 Broadway Ave Mattoon, IL 61938
Call to check price and availability
High-Yield Net Lease Investment, 15+ Years
Property Features for 700 Broadway Ave
General Information
- Property type
- Restaurants
- Lot Size
- 22,216 SF
Building Details
- Year Built
- 2024
- Buildings
- 1
Listing Agency: Goodman Real Estate Services Group LLC Listing Agent: Kyle Hartung
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This fee-simple ownership offers a 15.2-year absolute NNN ground lease with Valvoline (NYSE: VVV) at 700 Broadway Ave E, Mattoon, IL 61938. The 0.51-acre property houses a brand-new, 2024-built, 100% occupied auto shop/QSR building. The lease features a 5.55% cap rate and a strong NOI of $67,500, with 10% rent bumps every five years, providing inflation protection and future revenue growth. The property benefits from its location adjacent to Dunkin' Donuts and directly across from Cross County Mall, anchored by major retailers. Mattoon's central location between Chicago and St. Louis, combined with the opening of the Lincoln Land of Sports complex, projects significant growth in the area, further enhancing the investment's value. The hands-off nature of the ground lease, where the tenant is responsible for all maintenance and repairs, makes this an ideal investment opportunity, particularly for 1031 exchanges. The lease includes options for extension beyond the initial 15-year term. This bite-sized price point of $1,227,000 offers a compelling return on investment in a stable and growing market.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Rural King
Big Box & Wholesale Store
Sarah's Homemakers-SBLHS
Hardware & Home Improvement
Marshalls
Department Store
Alamo Steakhouse & Saloon
Restaurant
All Angles Solar
Solar Energy Company
Location Insight
- Map
- Local Demand
- City
- Mattoon
- County
- Coles
- State
- Illinois
- Longitude
- -88.342141
- Latitude
- 39.4834541
Nearby Similar for Sale
FAQs
What type of property is this?
Restaurant - High-Yield Net Lease Investment, 15+ Years
Where is this restaurant located?
The property is located at 700 Broadway Ave Mattoon, IL.
What is the asking price?
The asking price for this property is $1,227,000.
What are key features of this property?
This property features: Corporate lease guaranteed by Valvoline, Inc. (NYSE: VVV).; Brand new, 2024-built building with a 15-year ground lease plus options.; NNN ground lease; landlord responsibilities are minimal.
