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7 Brew | New 15yr Abs NNN 2816 Joseph Cannon Way

510 SF Retail Building Marion, IL 62959 $1,538,000 ($3,016/SF) 6.50% Cap Rate

Investment Highlights

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

Executive Summary

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.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
510 SF
Year Built
2023
Price
$1,538,000
Price Per SF
$3,016
Cap Rate
6.50%
NOI
$99,970
Tenancy
Single
Building Height
1 Story
Building FAR
0.02
Land Acres
0.62 AC
Zoning
Highway Commercial
Parking
7 Spaces (13.73 Spaces per 1,000 SF Leased)

Amenities

  • Corner Lot
  • Restaurant
  • Signage
  • Signalized Intersection

MAJOR TENANTS Click Here to Access

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • 7 Brew
  • Accommodation and Food Services
  • 99,999 SF
  • -
  • Lorem Ipsum
  • Jan 0000
Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
7 Brew Accommodation and Food Services 99,999 SF - Lorem Ipsum Jan 0000

Nearby Major Retailers

7 Brew Coffee
Applebee's
Starbucks
Bob Evans Restaurants
Back Yard Burgers
O'Charley's
Red Lobster
McAlister's Deli
Rent One Home Furnishings
Planet Fitness
  • Listing ID: 32888297

  • Date on Market: 8/20/2024

  • Last Updated:

  • Address: 2816 Joseph Cannon Way, Marion, IL 62959

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