3201 Horizon Dr Springfield, IL 62703

This exceptional investment opportunity presents a fee simple interest in a 6,163-square-foot, freestanding retail building housing an Ascend Cannabis Dispensary in Springfield, Illinois. Located on a 1.89-acre lot at 3201 Horizon Dr, Springfield, IL 62703, this property boasts a strong 9.50% cap rate and a substantial net operating income (NOI) of $532,691. The absolute NNN lease, with zero landlord responsibilities, provides a truly passive investment. The current lease term extends to February 28, 2030, with 5.3 years remaining and includes two 10-year renewal options. Built in 2020, the property benefits from a 100% occupancy rate and attractive 2.75% annual rent escalations throughout the base term, offering a hedge against inflation. The property's prime location offers excellent visibility, with frontage on Interstate 55 and proximity to major roadways, national restaurant chains, and hotels. The asking price is $5,607,277, translating to a price per square foot of $909.83. The property's parcel numbers are 22-12.0-127-057 and 22-12.0-127-058. This investment is situated in a growing cannabis market within a limited-license state.