1303 State St Jerseyville, IL 62052-3603
- Commercial land
- 0.81 lot acres
Sep 21, 2022
Current Use by Public Records
- Commercial land
Property Details for 1303 State St
- Year built
- 2022
- Lot size
- 0.81 lot acres
- Property type
- Commercial land
- APN
- 04-210-003-00
- APU
- 421000300
Description
This exceptional investment opportunity presents a fee-simple interest in a newly constructed (2022), 1,901 square foot KFC restaurant located in Jerseyville, Illinois. Situated on a 0.81-acre lot, this property benefits from a prime location directly across from a Walmart Supercenter, ensuring high visibility and traffic. The property is part of a thriving retail area with other national brands such as AT&T, AutoZone, Taco Bell, Dollar Tree, Great Clips, US Cellular, Burger King, and Arby's. The tenant, operating under a 20-year absolute triple-net (NNN) lease commencing January 24, 2023, and expiring January 31, 2043, provides a secure, long-term investment with 18.2 years remaining. The lease includes a 7.5% rent increase every five years and three, five-year renewal options, guaranteeing consistent income growth. The property boasts a 6.20% cap rate and a net operating income (NOI) of $115,015, with an asking price of $1,855,000 ($975.80 per square foot). The franchisee operates 24 locations in Missouri and Illinois, providing financial stability. This location's proximity to a major retailer and its distance from other KFC locations (approximately 18 miles) contribute to its strong performance since opening in January 2023. This is a rare opportunity to acquire a high-performing, long-term net lease investment in a desirable location.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Jerseyville
- County
- Jersey
- State
- Illinois
- Longitude
- -90.3145
- Latitude
- 39.1051
- CBSA code
- 41180
- CBSA name
- ST. LOUIS, MO-IL METROPOLITAN STATISTICAL AREA
