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700 Broadway Ave Mattoon, IL 61938

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For Sale
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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

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Listing Contact
Kyle Hartung
Kyle Hartung

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.

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Property Insight Report

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

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

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.
(216) 381-8200 Call to check price and availability
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