3019 Dirksen PkwySpringfield, IL 62703

For Sale
$2,210,000

High-Yield Springfield Restaurant

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a 4,980-square-foot Panera Bread restaurant located at 3019 S Dirksen Pkwy, Springfield, Illinois. Built in 2004, this single-tenant property sits on a 0.92-acre lot and boasts a strong 100% occupancy rate. The property is zoned B-1 and features a long-term lease with Panera Bread, expiring December 31, 2033, representing a remaining lease term of 9.1 years. The current annual net operating income (NOI) stands at $135,796, translating to an attractive 6.14% capitalization rate and a price per square foot of $443.78. The asking price for this established and profitable restaurant is $2,210,000. The lease includes a 10% rent increase after year five, ensuring future income growth. This is a rare opportunity to acquire a well-established, high-performing restaurant in a desirable location with significant remaining lease term, offering a stable and lucrative investment prospect. The property's strong performance history, coupled with the established brand recognition of Panera Bread, makes this an ideal addition to any investment portfolio. Detailed financial information is available upon request.

Highlights

  • 4,980 SF Panera Bread restaurant on 0.92-acre lot in Springfield, IL.
  • Built in 2004, 100% occupancy.
  • Zoned B-1, long-term lease expiring 12/31/2033 (9.1 years remaining).
  • $2,210,000 asking price; $443.78/SF; 6.14% cap rate; $135,796 annual NOI.
  • 10% rent increase after year five.

Property Details for 3019 Dirksen Pkwy

Property type
Other retail properties, Restaurants
Square Feet
4,980 SF
Year Built
2004
Buildings
1
Lot Size (sq. ft)
40,075 SF

Location Insight

City
Springfield
County
Sangamon
State
Illinois
Latitude
39.7626027
Longitude
-89.6077813
3019 Dirksen Pkwy, Springfield, Illinois

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3019 Dirksen Pkwy
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