224 E Richmond Ave - Restaurant FOR SALE
Mattoon, IL 61938 |
$950,000 USD
602-922-3427
224 E Richmond Ave
Mattoon, IL 61938
HIGHLIGHTS
- Opportunity to take over an operating Denny’s or a new restaurant concept.
- Opportunity to redevelop the over ±1.22 Acre lot, which will provide ample room for many different uses, or keep as is and lease out to another space
- The property has undergone significant upgrades, with complete building renovations in 2016 and an updated parking lot in 2023.
- Large ±5,800 SF building, positioned on a ±1.22-acre lot, offering flexibility for various business uses and allowing for ample parking.
- Population of over 19,000 people within a 5-mile radius, with average household income above $97,000.
- New development influx expects to generate $23.8 million in direct spending and create demand for 59,000 hotel room nights each year.
FOR SALE DETAILS
PRICE
$950,000 USD
PRICE/SF
$146 USD /SF
CAP RATE
Request Cap Rate
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
DENNY'S
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Restaurant
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1988
SPRINKLERS
-
PARKING SPACES
34
LAND DETAILS
LAND ACRES
2.02 AC
LAND SF
87,991 SF
ZONING
-
APN/PARCEL ID
06-0-04408-000
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602-922-3427
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602-922-3427
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