514 Commercial St Harrisburg, IL 62946-2329
Property profile & analytics
514 Commercial St Harrisburg, IL 62946-2329
- Commercial real estate
- 1.39 lot acres
Property ID
US28-4614418
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- KFC / Restaurant
Property Details for 514 Commercial St
- Lot size
- 1.39 lot acres
- Property type
- Commercial real estate
- APN
- 06-1-092-11
- APU
- 6109211
Description
This exceptional investment opportunity presents a freestanding KFC restaurant in Harrisburg, Illinois, boasting a new 20-year absolute triple-net (NNN) lease commencing October 1st, 2024, and expiring September 30th, 2044. The 7,298 square foot property sits on a 1.42-acre lot and is strategically located at a signalized intersection with high visibility and traffic volume exceeding 20,500 vehicles per day. The tenant, Tasty Chick'n Midwest, LLC, is backed by a strong 80-unit guarantor, Tasty Chick'n, LLC, ensuring financial stability. This KFC location significantly outperforms average systemwide AUV sales, ranking among the top KFC restaurants nationally. The lease includes 1.50% annual rent increases beginning in year seven and four five-year renewal options, providing long-term income security. The property's prime location is complemented by nearby national retailers, including Walmart, McDonald's, and others, further enhancing its appeal and potential for continued success. With a current NOI of $189,602 and a cap rate of 5.80%, this property offers a compelling investment opportunity with significant upside potential. The asking price is $3,269,000, translating to $447.93 per square foot. This is a rare chance to acquire a high-performing, established QSR property with a long-term lease and a strong tenant.
Value Estimations
based on Realmo’s proprietary methodology
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Harrisburg
- County
- Saline
- State
- Illinois
- Longitude
- -88.5345
- Latitude
- 37.7315
- CBSA code
- 25380
- CBSA name
- HARRISBURG, IL MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$52,739
$21,237
$512,728
$533,965
-
$63,711
$1,538,184
$1,601,895
