2707 Sangamon Ave Springfield, IL 62702
Property profile & analytics
Location Intelligence
Current Use by Public Records
- Dollar Tree / Discount Store
Property Details for 2707 Sangamon Ave
- Lot size
- 0.93 lot acres
- Property type
- Retail properties & Spaces
- 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.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Springfield
- County
- Sangamon
- State
- Illinois
- Longitude
- -89.6151
- Latitude
- 39.8325
