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    OFF-MARKET
    Retail properties & Spaces

    3050 Adlai Stevenson Dr, Springfield, IL 62703

    6,241 SF Built 1992
    Property ID
    Property summary
    AI-generated overview

    This 6,241 square foot, single-tenant restaurant building is available for lease. Located at 3050 Adlai Stevenson Dr, Springfield, IL 62703, this former Bob Evans restaurant boasts a prime location near the signalized intersection of S. Dirksen Pkwy and Stevenson Dr, with excellent visibility from Interstate 55/72. Built in 1992 and renovated in 2015, the property features a large kitchen with extensive commercial equipment including a 23.5' heat capture hood ventilation system, a 12' grease hood ventilation system, a walk-in cooler, and a walk-in freezer. The dining area, also remodeled in 2015, includes two ADA-compliant restrooms. Additional kitchen features include a three-compartment sink, vegetable prep sink, two handwashing sinks, a dishwashing tank, and a 100-gallon water heater. The 1.27-acre lot provides ample parking with 81 spaces. The property is zoned B-1, Highway Business District, and has a tax cost per square foot of $5.65. Its proximity to Interstate 55/72, Lake Springfield, and numerous amenities, including hotels, restaurants, and major employers like the Illinois Department of Transportation and the Illinois Secretary of State, makes this an exceptional opportunity. The high traffic counts on Stevenson Dr (16,600 AADT) and S. Dirksen Pkwy (12,000 AADT), along with the visibility from Interstate 55/72 (52,300 AADT), ensure high visibility and potential customer traffic. The area is experiencing growth with new developments underway, including a QuikTrip and a Home2 Suites by Hilton hotel. This location offers a strong foundation for a thriving restaurant business.

    Property profile
    Verified
    Property type Retail properties & Spaces
    Year built 1992
    Total area 6,241 SF
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
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    Owner & transaction history
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    Zoning & alternative use
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