Retail Space - For Sale
2401 Wabash Avenue Springfield, IL 62704
Details & Description
Price: $3,801,000
  • Property Type Retail for Sale : Shopping Center
  • Lot Size Acres 1.080
  • Building Sq Ft 6,384
  • Building Price per Sq Ft $595.39
  • Land Sq Ft 47,044
  • Land Price per Sq Ft $80.80
A premier two tenant retail building in Springfield, IL.The subject property is 100% leased to Mission BBQ and MOD Pizza, and both tenants are on new 10-year leases featuring 10% rental increases in both the base terms and at each option period. The property is currently under construction and features NNN lease structures, limiting Landlord responsibilities for this investment (see lease abstract pages).MISSION BBQ is one of the nation’s premier, authentic barbecue chains, operating over 90 locations in 16 states. As opposed to focusing on one regional style of barbecue, Mission serves Texas, Kansas City, and Carolina inspired dishes to appeal to all barbecue lovers. As a result, it saw revenues spike 40% in 2018 and that number continues to increase as it proceeds with its expansion plans of opening 20-25 new restaurants every year.MOD PIZZA is a rapidly expanding chain of fast-casual pizza restaurants that serves both individual, artisan style pizzas and 10 classic pizzas. Due to its staggering year-over-year sales growth and the addition of multiple franchisee partnerships, it has been named America’s fastest-growing chain restaurant by Technomic four years running. The company currently operates over 490 locations and plans to ramp up to over 1,000 locations in the next five years with the help of $160M equity financing.
Listing Agents
John Andreini
Capital Pacific
O: 415-274-2715
jandreini@capitalpacific.com
While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

2401 Wabash Avenue

Springfield, IL 62704

Listing ID: 259447
$3,801,000
For Sale
  • Property Type Retail for Sale : Shopping Center
  • Lot Size Acres 1.080
  • Building Sq Ft 6,384
  • Building Price per Sq Ft $595.39
  • Land Sq Ft 47,044
  • Land Price per Sq Ft $80.80
  • 2401 Wabash Avenue Springfield, IL 62704 | for Sale | Photo 1
  • 2401 Wabash Avenue Springfield, IL 62704 | for Sale | Photo 2
2401 Wabash Avenue | for Sale | Thumbnail 1
2401 Wabash Avenue | for Sale | Thumbnail 2
Description

A premier two tenant retail building in Springfield, IL.

The subject property is 100% leased to Mission BBQ and MOD Pizza, and both tenants are on new 10-year leases featuring 10% rental increases in both the base terms and at each option period. The property is currently under construction and features NNN lease structures, limiting Landlord responsibilities for this investment (see lease abstract pages).

MISSION BBQ is one of the nation’s premier, authentic barbecue chains, operating over 90 locations in 16 states. As opposed to focusing on one regional style of barbecue, Mission serves Texas, Kansas City, and Carolina inspired dishes to appeal to all barbecue lovers. As a result, it saw revenues spike 40% in 2018 and that number continues to increase as it proceeds with its expansion plans of opening 20-25 new restaurants every year.

MOD PIZZA is a rapidly expanding chain of fast-casual pizza restaurants that serves both individual, artisan style pizzas and 10 classic pizzas. Due to its staggering year-over-year sales growth and the addition of multiple franchisee partnerships, it has been named America’s fastest-growing chain restaurant by Technomic four years running. The company currently operates over 490 locations and plans to ramp up to over 1,000 locations in the next five years with the help of $160M equity financing.

Attachments & Files

Listing Demographics for 2401 Wabash Avenue Springfield, IL 62704

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

1-Mile 3-Miles 5-Miles
Total Population8,84353,462102,033
Population Median Age444140
Population by Age0-9 Yrs1085 (12%)5690 (10%)11961 (11%)
10-19 Yrs764 (8%)5759 (10%)11794 (11%)
20-29 Yrs1066 (12%)7310 (13%)13978 (13%)
30-39 Yrs996 (11%)7096 (13%)13457 (13%)
40-49 Yrs1049 (11%)6186 (11%)11839 (11%)
50-59 Yrs1068 (12%)7415 (13%)14014 (13%)
60-69 Yrs1166 (13%)6753 (12%)12744 (12%)
70+ Yrs1649 (18%)7254 (13%)12246 (12%)
Median HH Income$63,273$59,947$53,785
Total Household Income< 24K475 (12%)4404 (17%)11082 (24%)
25-49K887 (22%)5895 (23%)10328 (22%)
50-74K955 (24%)4474 (18%)7793 (17%)
75-99K441 (11%)3187 (12%)5710 (12%)
100-199K790 (20%)4966 (20%)7988 (17%)
200K+363 (9%)1811 (7%)2766 (6%)
Highest Education LevelNo Diploma24419546124
Diploma or GED1532802117756
Some College1171808315664
Assoc. Degree45527754980
Bachelors Degree15171024116022
Higher Degree1476739810922
Total Housing Units4,13226,97750,891
--Owner-Occupied2,53915,61127,253
--Renter-Occupied1,3729,12518,414
Owner-Occupied Values< 100K20438599439
100-199K1681726610823
200-299K44627864095
300-399K838781475
400-499K73416711
500K+52406710
Total Working Age Population7,21444,08382,815
In Work Force4,09128,37251,293
Not In Work Force3,12415,71131,521
Workforce Employed3,87526,65547,584
Workforce Unemployed2061,6433,614
Civlian Workforce4,08128,29851,198
Military Workforce97495
Total Households3,91224,73645,667
Family Households2,29812,97324,521
Non-Family Households1,61411,76421,146
Married Couple1,7569,34415,956
Other Family5423,6298,566
Married w/Child5193,1175,099
Single Male w/Child20350977
Single Female w/Child2111,5064,055

Population Change Last Two Decades - Plus Projection

2000%2010%2020%2030
Illinois12,419,293+312,830,632+1214,316,487+615,138,849
Sangamon County188,951+5197,465+7210,672+6222,367

No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

Listing Location & Map Views
Other Retail Space Listings for Sale Nearby
Address Price Sq Ft Acres
1700 Wabash Avenue, Springfield, IL $1,256,337 4050 0.75
2428 South MacArthur Boulevard, Springfield, IL $550,000 13000 0.71
2428 South MacArthur Boulevard, Springfield, IL $495,000 13000 0.71
510 Bruns Lane, Springfield, IL $425,000 9700 1
1701 South 6th Street, Springfield, IL $500,000 2508 0.04
107 East Cook Street, Springfield, IL $1,050,000 68970 2.93
625 South 2nd Street, Springfield, IL $1,050,000 68970 2.93
921 W Jefferson St, Springfield, IL $795,000 16000 1.12
4 South Old State Capitol Plaza, Springfield, IL $225,000 3000 0.1
2501 Adlai Stevenson Drive, Springfield, IL $1,369,000 5167 -
Closest Commercial Airports
Airport Distance (mi)
Abraham Lincoln Capital Airport (SPI) 6
General Wayne A. Downing Peoria International Airport (PIA) 62
Central Illinois Regional Airport at Bloomington-Normal (BMI) 64
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