775 Pershing Rd Decatur, IL 62526-2405
- Drive through restaurants
- 0.61 lot acres
Current Use by Public Records
- Popeyes / Chicken Restaurant / Cajun Restaurant
Property Details for 775 Pershing Rd
- Lot size
- 0.61 lot acres
- Zone code
- MUNICIPAL
- Property type
- Drive through restaurants
- APN
- 04-12-02-126-028
- APU
- 41202126028
Description
This exceptional investment opportunity presents a 2,500 square foot Popeyes restaurant located at 775 E Pershing Rd, Decatur, IL 62526. The property sits on a 0.61-acre lot and boasts a brand new 20-year absolute triple-net (NNN) lease with a prominent franchisee, The Dhanani Group, operators of over 1,300 Popeyes locations. The lease features a 5.75% cap rate and a healthy 8% rent-to-sales ratio, with built-in rent bumps of 10% every five years, commencing at closing. The property underwent renovations in 2024 and enjoys 100% occupancy. The annual net operating income (NOI) is $120,000. This single-tenant property is strategically positioned in a high-traffic area with easy access and is surrounded by other retail businesses. The Decatur location benefits from a substantial population base of over 48,000 within a three-mile radius. The lease includes four 5-year renewal options, providing long-term stability and predictable cash flow. This is a rare opportunity to acquire a high-performing, low-risk investment in a strong market. The property is classified as QSR/Fast Food, Restaurant, and Storefront. The asking price is $2,086,957.
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
- Decatur
- County
- Macon
- State
- Illinois
- Longitude
- -88.9474
- Latitude
- 39.8765
- CBSA code
- 19500
- CBSA name
- DECATUR, IL METROPOLITAN STATISTICAL AREA
