2900 Joseph Cannon Way Marion, IL 62959
- Retail properties
- 7,700 SF
Current Use by Public Records
- Retail properties
Property Details for 2900 Joseph Cannon Way
- Property size
- 7,700 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a 7,700 square foot freestanding Olive Garden restaurant located at 2900 Joseph Cannon Wy, Marion, Illinois, 62959. The property boasts a strong 100% occupancy rate under a 10-year Absolute NNN lease with 9 years remaining. The current lease provides a substantial Net Operating Income (NOI) of $145,000, translating to an attractive 5.25% capitalization rate. The asking price for this turnkey investment is $2,761,904. This single-tenant property offers a secure and passive income stream, backed by a well-established national restaurant chain with a proven track record. Situated in Williamson County, Illinois, this location benefits from excellent visibility and accessibility. The property's size and established tenant make it an ideal addition to any diversified real estate portfolio seeking consistent returns and long-term stability. This is a rare opportunity to acquire a high-performing asset in a desirable market. The property is offered as an absolute NNN lease, minimizing landlord responsibilities and maximizing passive income potential. Don't miss this chance to secure a valuable piece of commercial real estate.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Marion
- County
- Williamson
- State
- Illinois
- Longitude
- -88.9757
- Latitude
- 37.7438
