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    700 Broadway Ave Mattoon, IL 61938

    Sponsored
    For Sale
    $1,227,000

    High-Yield Net Lease Investment, 15+ Years

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    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 Features for 700 Broadway Ave

    General Information

    Property type
    Restaurants
    Lot Size
    22,216 SF

    Building Details

    Year Built
    2024
    Buildings
    1

    HighLights

    • 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.
    • 10% rent increases every five years.
    • Ideal 1031 exchange opportunity with a low price point of $1,227,000.
    • Outlot to Cross County Mall, near Rural King, Marshall's, Joann, and Dunham's.
    Property Profile Location Intelligence

    Current Use by Public Records

    Rural King Farm Equipment Supplier Sarah's Homemakers-SBLHS House Cleaning Service Marshalls Department Store Alamo Steakhouse & Saloon Steak House All Angles Solar Solar Energy Company

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Mattoon
    County
    Coles
    State
    Illinois
    Longitude
    -88.342141
    Latitude
    39.4834541

    Nearby Comparable

    • Contact for pricing
      630 SF

      Cross County Mall

      Lifestyle centers • 630 SF
      700 Broadway Ave, Mattoon, IL 61938
      View Details
    • Contact for pricing
      1,806 SF

      Mattoon Bank Building - 1806 SF

      Prime retail space, high traffic location.
      402 Richmond Ave, Mattoon, IL 61938
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      2.00 Acres

      Prime Mattoon Development Land

      2-Acre Agricultural Tract near Sports Complex
      Worth Fort Worth Way, Mattoon, IL 61938
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      0.50 Acres

      Mattoon, IL Commercial Land

      Retail & Hotel Opportunity near Sports Complex
      0 Fort Worth Way, Mattoon, IL 61938
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    • $254,000
      0.48 Acres

      Prime Mattoon Restaurant Site

      .48-Acre Restaurant Lot, Ready to Build
      800 Charleston Ave, Mattoon, IL 61938
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    • $550,000
      2,449 SF

      Former KFC Investment Property

      Former KFC property in Mattoon, Illinois, for sale.
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    • $795,000

      Downtown Mattoon Development Opportunity

      6+ acre development site in downtown Mattoon, Illinois.
      120 N 14Th St, Mattoon, IL 61938
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    • $700,000
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      Retail Building in Mattoon, Illinois

      Retail building leased to a national tenant for sale.
      1401 Charleston Ave, Mattoon, IL 61938
      View Details
    • $700,000
      25 SF

      Retail Building on Charleston Avenue

      Retail building leased to a national tenant in Mattoon, Illinois.
      1400 Charleston Ave, Mattoon, IL 61938
      View Details

    Nearby Similar for Sale

    • $134,900

      Three Homes on Corner Lot

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      2502 Pine Ave, Mattoon, IL 61938
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    • $550,000
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      Former KFC Investment Property

      Former KFC property in Mattoon, Illinois, for sale.
      1000 Charleston Ave, Mattoon, IL 61938
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    • $700,000
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      Retail Building on Charleston Avenue

      Retail building leased to a national tenant in Mattoon, Illinois.
      1400 Charleston Ave, Mattoon, IL 61938
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    • $700,000
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      Retail Building in Mattoon, Illinois

      Retail building leased to a national tenant for sale.
      1401 Charleston Ave, Mattoon, IL 61938
      View Details
    • Contact for pricing
      105,096 SF

      Hilton Garden Inn - Mattoon

      102-room Hilton Garden Inn built in 2022 for sale.
      100 Coles Centre Pkwy, Mattoon, IL 61938
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    • Contact for pricing
      1,806 SF

      Mattoon Bank Building - 1806 SF

      Prime retail space, high traffic location.
      402 Richmond Ave, Mattoon, IL 61938
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    • $2,124,439
      10,566 SF

      Dollar General Plus - Mattoon, IL

      10,566 SF, 15-Year NNN Lease, 6.60% Cap Rate
      1717 Lake Land Blvd, Mattoon, IL 61938
      View Details
    • Contact for pricing
      630 SF

      Cross County Mall

      Lifestyle centers • 630 SF
      700 Broadway Ave, Mattoon, IL 61938
      View Details

    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.
    Request Owner's contact information
    700 Broadway Ave Mattoon, IL 61938
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    Mattoon, IL 61938
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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
    700 Broadway Ave Mattoon, IL 61938
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