220 Green StBushnell, IL 61422

Property Details for 220 Green St

Lot size

1.25 AC

Property type

Commercial real estate

APN

03-000-196-00

APU

300019600

Description

This exceptional investment opportunity presents a 3,371 square foot Hardee's/Carl's Jr. restaurant in Bushnell, Illinois, situated on a 1.04-acre lot at a prominent intersection. Built in 1983 and renovated in 2012, the property boasts a 22-year net lease (expiring August 1, 2044), offering 19.7 years remaining. The lease includes four 5-year renewal options with a 10% rent increase every five years, providing significant long-term income growth. The current annual net operating income (NOI) is $81,000, yielding a 6.25% cap rate on the $1,296,000 asking price. The lease is backed by a corporate guarantee from LBE Holdings, a substantial entity with a proven track record. This Hardee's enjoys excellent visibility and benefits from being one of only two national fast-food restaurants in Bushnell, serving a population of over 27,238 and conveniently located near Peoria, Canton, Roseville, and Macomb. The property's strong tenant, long lease term, and favorable location make it an attractive investment with substantial upside potential. The price per square foot is $384.46. The lease commenced August 1, 2022.

• Alternative Use

  Use

  Valuation

  Residential

  $16,674,337

  Hospitality

  $15,273,603

  Educational

  $12,707,458

  Medical

  $13,144,487

  Retail

  $19,767,158

Location Insight

City

Bushnell

County

Mcdonough

State

Illinois

Latitude

40.5451

Longitude

-90.5038

CBSA code

31380

CBSA name

MACOMB, IL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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