36th St & Broadway St Quincy, IL 62301

Property Details for 36th St & Broadway St

Year built

2024

Lot size

0.91 lot acres

Property size

3,062 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents the chance to acquire a leased fee interest (land ownership) in a newly constructed Raising Cane's restaurant located in Quincy, Illinois. The property boasts a brand new 15-year absolute NNN lease with five 5-year renewal options, providing long-term stability and predictable income. The lease includes 10% rental increases every five years, effectively hedging against inflation and ensuring consistent NOI growth. With zero landlord responsibilities, this is an ideal passive investment. The 3,062 square foot restaurant, built in 2024, features a drive-thru and is situated on a 0.91-acre lot with 37 parking spaces. Its prime location at the signalized intersection of 36th Street and Broadway Street, a major retail thoroughfare, benefits from high visibility and significant daily traffic exceeding 40,000 vehicles. The property is an outparcel to a Target, further enhancing its desirability and attracting significant foot traffic. The surrounding area is densely populated with strong demographics, including a 5-mile trade area population exceeding 48,500 and an average household income of $81,864. Nearby national retailers include Walmart, Sam's Club, Lowe's, Home Depot, Kohl's, and more, creating a robust retail environment. The property is zoned C2 and offers a compelling 4.75% cap rate with a current NOI of $130,000 and an asking price of $2,737,000. This represents a rare opportunity to acquire a high-performing, low-maintenance investment property with a strong, nationally recognized tenant.

Location Insight

City

Quincy

County

Adams

State

Illinois

Longitude

-91.3583

Latitude

39.9352