2707 Sangamon Ave Springfield, IL 62702

Property Details for 2707 Sangamon Ave

Lot size

0.93 lot acres

Property type

Retail properties

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents a single-tenant, net-leased retail property occupied by Dollar Tree at 2707 E Sangamon Ave, Springfield, IL 62702. The property boasts a 7.75% cap rate and a strong NOI of $82,500 on an asking price of $1,064,516. The 0.93-acre lot houses a convenience store, grocery store, and QSR/fast-food establishment that underwent a 2017 retrofit for Dollar Tree. The lease, originally commencing May 17, 2017, recently received a 10-year extension, expiring January 31, 2034, providing a remaining lease term of 9.2 years. This demonstrates Dollar Tree's commitment to the location and market. The lease includes three, 5-year renewal options, each with a $5,500 rent increase ($0.50/SF). The property benefits from a corporate guarantee and investment-grade credit tenant (S&P rated BBB). The location enjoys exceptional visibility and traffic, exceeding 43,000 vehicles per day at the intersection of Dirksen Pkwy & E Sangamon Rd. The surrounding area features a 5-mile population of 88,476 residents with an average household income of $69,505 annually, and includes numerous national retailers such as Walmart, Lowe's, McDonald's, and more. This is a rare opportunity to acquire a high-performing, low-risk retail investment with a long-term, credit-worthy tenant.