1125 Main StCarbondale, IL 62901

Property Details for 1125 Main St

Lot size

1.29 AC

Property type

Commercial real estate

APN

15-22-202-017

APU

1522202017

Description

This exceptional investment opportunity presents a fee-simple ownership of a 5,404 square foot Applebee's restaurant in Carbondale, Illinois. Located on a 1.29-acre lot at 1125 E Main St, 62901, this single-tenant building boasts a prime retail location on Carbondale's main corridor, adjacent to University Mall (700,000+ sq ft) and near Southern Illinois University. The property features a new absolute NNN lease with zero landlord responsibilities, commencing at closing. This 7.1-year lease includes a 10% rent increase after 2.5 years and another 10% increase every 5 years thereafter, providing substantial long-term income growth. Four 5-year lease options further solidify the tenant's commitment. Built in 1995 and renovated in 2017, the property generates a strong NOI of $149,000, representing an 8.00% cap rate on the asking price of $1,862,500 ($344.65/sq ft). The tenant, a proven operator with a history of success in multiple restaurant locations, ensures a stable and secure income stream. This is a rare opportunity to acquire a high-performing, passively managed asset in a desirable location with significant upside potential. The property is a single-story building on a fee-simple lot.

• Alternative Use

  Use

  Valuation

  Residential

  $14,701,780

  Hospitality

  $13,466,752

  Educational

  $11,204,179

  Medical

  $11,589,508

  Retail

  $17,428,724

Location Insight

City

Carbondale

County

Jackson

State

Illinois

Latitude

37.7279

Longitude

-89.1981

CBSA code

16060

CBSA name

CARBONDALE-MARION, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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