2816 Joseph Cannon Way - Freestanding FOR SALE


Marion, IL 62959
$1,538,000 USD
949-698-1115
2816 Joseph Cannon Way, Marion, IL for Sale
$1,538,000 USD
Freestanding - FOR SALE
1/8
null | 6.5% Cap Rate

2816 Joseph Cannon Way
Marion, IL 62959


HIGHLIGHTS

  • Brand New 15-Year Lease | Scheduled Rental Increases | Options To Extend
  • Absolute NNN | Leased Fee Ownership | Zero Landlord Responsibilities | Strong Franchisee
  • Signalized, Hard-Corner Intersection (35,200 VPD) | Excellent Visibility | National Tenant Presence
  • Strong Demographics In 5-Mile Trade Area

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, 7 Brew Coffee investment property located in Marion, Illinois. The tenant, Brew Horizons LLC, recently signed a brand new 15 year lease with 6 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. The franchisee is a 25 unit franchisee who has invested $40 million in cash into the business, with a $150 million equity commitment from investors.

FOR SALE DETAILS

PRICE

$1,538,000 USD

PRICE/SF

$3,016 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7 Brew | New 15yr Abs NNN

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Fast Food, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.62 AC

LAND SF

27,007 SF

ZONING

Highway Commercial

APN/PARCEL ID

06-15-203-002

ASK ABOUT THIS PROPERTY

Patrick LutherSRS National Net LeaseMore Info
949-698-1115

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Patrick LutherSRS National Net LeaseMore Info
949-698-1115

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.