3806 Broadway St Mount Vernon, IL 62864

Property Details for 3806 Broadway St

Lot size

0.49 lot acres

Property type

Commercial real estate

APN

06-25-355-007

APU

625355007

Description

Exceptional investment opportunity: a 1,627 square foot, Class B auto shop in Mount Vernon, Illinois, currently operating as a Jiffy Lube-type franchise. This property boasts a new, 15-year absolute NNN sale-leaseback agreement with a rapidly expanding franchisee, offering a passive investment with zero landlord responsibilities. The tenant, with 16 existing locations and 5 more under development, has a 44-unit development agreement. The property enjoys a prime location on Broadway Street (approx. 22,530 vehicles per day), directly across from a major shopping center anchored by Ross, Hobby Lobby, and Dunham's Sports, and near other national retailers, hospitals, and major roadways (I-57). The lease features a 6.25% cap rate, $125,000 annual NOI, and 7.5% rent bumps every five years throughout the initial term and eight, five-year options. The 0.75-acre lot houses a single building constructed in 2022, currently at 100% occupancy. This presents a secure, low-maintenance investment with significant long-term growth potential in a strong retail corridor. The tenant's impressive growth trajectory, coupled with the favorable lease terms and strategic location, makes this a compelling opportunity for discerning investors.

Location Insight

City

Mount Vernon

County

Jefferson

State

Illinois

Longitude

-88.9384

Latitude

38.3147

CBSA code

34500

CBSA name

MOUNT VERNON, IL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments