2816 Joseph Cannon Way Marion, IL 62959

Property Details for 2816 Joseph Cannon Way

Year built

2023

Lot size

0.62 lot acres

Property size

510 SF

Property type

Retail properties

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