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Aldi & Eyemart Express at Parkway Pointe 3425 Freedom Dr

24,500 SF Retail Building Springfield, IL 62704 $4,950,000 ($202/SF) 6.50% Cap Rate

Investment Highlights

  • DESIRABLE LONG-TERM LEASES I 9.4 YEAR WALT
  • MOST VISITED SHOPPING CENTER IN SPRINGFIELD I 6 MILLION ANNUAL VISITS
  • IRREPLACEABLE LOCATION
  • INLINE WITHIN WALMART AND TARGET ANCHORED CENTER
  • STRONG DEMOGRAPHIC PROFILE

Executive Summary

ALDI and Eyemart Express enjoy an ideal positioning at the heart of the White Oaks Trade area, a dense retail corridor located along Veterans Parkway that is the main shopping destination for residents of Springfield and surrounding communities. The trade area is anchored by Simon Mall’s 930,000 square-foot White Oaks Mall, which features, Macy’s, Dick’s, Sporting Goods, H&M, Michaels, Esporta Fitness, Cooper’s Hawk Winery & Restaurant, and other specialty shops. Simon is in the process of redeveloping the mall and recently sold the former Sears box to the state of Illinois, who will use the space for offices for multiple state agencies following a complete interior and exterior renovation. The trade area is also home to traffic driving tenants that include TJ Maxx, Burlington, Marshalls, Binny’s Beverage Depot, Best Buy, Harvest Market, and others. Contemporary dining and fast-casual restaurant concepts in the area include Chick-fil-A, Portillo’s, Raising Cane’s, CoreLife Eatery, Mission BBQ, Chipotle, and others.

Property Facts

Sale Type
Investment
Property Type
Retail
Building Size
24,500 SF
Building Class
B
Year Built
1993
Price
$4,950,000
Price Per SF
$202
Cap Rate
6.50%
NOI
$321,750
Tenancy
Single
Building Height
1 Story

Nearby Major Retailers

ALDI
Starbucks
Portillo's
Snap Fitness 24/7
Applebee's
Village Inn
Sky Zone
Curves
Grand Rental Station
Heartland Bank & Trust

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
21-13.0-228-034
Land Assessment
$388,087
Improvements Assessment
$460,736
Total Assessment
$848,823
  • Listing ID: 32666336

  • Date on Market: 8/2/2024

  • Last Updated:

  • Address: 3425 Freedom Dr, Springfield, IL 62704

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