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401 E Sangamon Ave
Petersburg, IL 62675

$830,100 USD

Fast Food For Sale  •  2,564 SF

Property Details

  • Property Type Fast Food
  • Total Building Size 2,564 SF
  • Lot Size 1.25 AC
  • Building Class B
  • Year Built 1996
  • Cap Rate 6.98 %
  • Tenancy Single
0 Transit Score
62 Walk Score

Highlights

Absolute Triple Net (NNN) Lease: True NNN structure requiring no landlord responsibilities; tenant is solely responsible for all maintenance
Strong Franchisee Guarantee: Lease guaranteed by StarCorp, LLC—one of the largest Hardee’s franchisees in the U.S.—operating approximately 150 units
Long-Term Lease with Rent Growth: Original 20-year lease term with ±11 years remaining, expiring December 31, 2036.
Below-Market Rent: Current rent of $57,941 annually (approximately $22.60 per square foot) is significantly below market for comparable QSR drive-thru
Attractive 1031 Exchange Opportunity: Ideal for investors seeking a low-management, income-generating asset suitable for small-balance 1031 exchanges
Cap Rate: 6.98 %

Major Tenants

Tenant SF Occupied Lease End Date
Hardee's 12/2/2037

Public Transportation

AirportDriveWalkDistance
Abraham Lincoln Capital 35 min - 21.3 mi
Nathan Roberto 214-295-8753 Matthews Real Estate Investment Services
Nathan Roberto 214-295-8753 Matthews Real Estate Investment Services