Property Details for 2816 Joseph Cannon Way

Year built

2023

Lot size

0.62 lot acres

Property size

510 SF

Property type

Retail properties & Spaces

Property subtype

Restaurants

Description

This exceptional investment opportunity presents the chance to acquire the leased fee interest (land ownership) in a newly constructed 7 Brew Coffee location in Marion, Illinois. The property boasts a brand-new 15-year absolute NNN lease with six 5-year renewal options, ensuring long-term income stability. The lease includes 10% rental increases every five years, providing built-in protection against inflation and steadily growing net operating income (NOI). With zero landlord responsibilities, this is an ideal, management-free investment. The 510 square foot building, constructed in 2023, sits on a 0.62-acre lot with seven parking spaces and enjoys a prime location at the signalized intersection of State Hwy 13 and Williamson County Pkwy, experiencing over 35,200 vehicles per day. This high-traffic area benefits from proximity to major retailers including Target, Dillard's, Planet Fitness, Walmart Supercenter, Home Depot, and Sam's Club, creating strong tenant synergy and increased consumer traffic. The 7 Brew is part of a thriving retail corridor with numerous national tenants. The property's strong demographics, including a 5-mile trade area population exceeding 28,800 and a 1-mile trade area boasting an average household income of $120,629, further enhance its investment appeal. The current NOI is $100,000, with a 6.50% cap rate and an asking price of $1,538,000 ($3,015.69/sq ft). The property is zoned for Highway Commercial use. This is a truly passive investment opportunity with significant upside potential.

Location Insight

City

Marion

County

Williamson

State

Illinois

Longitude

-88.9739

Latitude

37.7435