Shopping Strip
Walmart Shadow Anchored Center
1514 W Springfield Rd, Taylorville, IL 62568
Listing Price: $3,225,000
Investment Overview
Marcus & Millichap is pleased to exclusively offer a 92 percent occupied Walmart shadow-anchored shopping center that has a proven history of strong occupancy. The adjacent Walmart store attracts 1.9 million annual visitors, according to Placer.ai, enhancing the center’s foot traffic and visibility. The center features a healthy mix of national and regional service tenants, anchored by Dollar Tree, with many long-term tenants. Notably, Great Clips and Dollar Tree have operated at this center for 20 years, while QQ China Restaurant and Dotty’s Café have been in operation for over 10 years.
The lease terms at the property are attractive, with regularly scheduled rental increases. The majority of tenant leases include annual rent increases ranging from two percent to three percent, and all tenant leases are structured as net leases, with tenants reimbursing for management and/or administrative fees. The lease expirations are staggered, ensuring that no single tenant accounts for more than 25 percent of the base rent. The average rental rate is modest and replaceable, at only $12.64 per square foot.
The property itself boasts excellent real estate fundamentals, sitting on a large 3.06-acre lot with more than 120 parking spaces, both in the front and rear lots. The size of the lot provides potential for adding a future pad site. With four points of full ingress and egress and almost 400 feet of frontage on Springfield Road, the property offers superior accessibility. The ideal bay depths, ranging from 65 to 80 feet, provide flexibility for a variety of tenants.
Located near a stoplight intersection and surrounded by national retailers, the property enjoys strong traffic counts. It is adjacent to the intersection of W. Springfield Road and Illinois Route 104, with Springfield Road seeing 12,200 vehicles per day and Illinois Route 104 having a traffic count of 4,800 vehicles per day. Additionally, the property is across the street from a new Starbucks location, set to open in June 2025. The area also features notable national brands, including Steak ‘n Shake, Scooter’s Coffee, Aldi, R.P. Lumber, Arby’s, Kroger, AutoZone Auto Parts, O’Reilly Auto Parts, Dairy Queen, and Wendy’s. Within a half-mile radius of the property, there are Chevrolet, Buick, GMC, Ford, Chrysler, Jeep, Dodge, and Ram dealerships, further increasing the area's draw for consumers.
Investment Highlights
- 92 Percent Occupied Walmart Shadow Anchored Center with History of Strong Occupancy
- Attractive Lease Terms Featuring Regularly Scheduled Rental Increases
- Excellent Real Estate Fundamentals
- Located Near Stoplight Intersection | Surrounded by National Retailers
Listing Price: $3,225,000
Investment Highlights
- 92 Percent Occupied Walmart Shadow Anchored Center with History of Strong Occupancy
- Attractive Lease Terms Featuring Regularly Scheduled Rental Increases
- Excellent Real Estate Fundamentals
- Located Near Stoplight Intersection | Surrounded by National Retailers
Investment Overview
Marcus & Millichap is pleased to exclusively offer a 92 percent occupied Walmart shadow-anchored shopping center that has a proven history of strong occupancy. The adjacent Walmart store attracts 1.9 million annual visitors, according to Placer.ai, enhancing the center’s foot traffic and visibility. The center features a healthy mix of national and regional service tenants, anchored by Dollar Tree, with many long-term tenants. Notably, Great Clips and Dollar Tree have operated at this center for 20 years, while QQ China Restaurant and Dotty’s Café have been in operation for over 10 years. The lease terms at the property are attractive, with regularly scheduled rental increases. The majority of tenant leases include annual rent increases ranging from two percent to three percent, and all tenant leases are structured as net leases, with tenants reimbursing for management and/or administrative fees. The lease expirations are staggered, ensuring that no single tenant accounts for more than 25 percent of the base rent. The average rental rate is modest and replaceable, at only $12.64 per square foot. The property itself boasts excellent real estate fundamentals, sitting on a large 3.06-acre lot with more than 120 parking spaces, both in the front and rear lots. The size of the lot provides potential for adding a future pad site. With four points of full ingress and egress and almost 400 feet of frontage on Springfield Road, the property offers superior accessibility. The ideal bay depths, ranging from 65 to 80 feet, provide flexibility for a variety of tenants. Located near a stoplight intersection and surrounded by national retailers, the property enjoys strong traffic counts. It is adjacent to the intersection of W. Springfield Road and Illinois Route 104, with Springfield Road seeing 12,200 vehicles per day and Illinois Route 104 having a traffic count of 4,800 vehicles per day. Additionally, the property is across the street from a new Starbucks location, set to open in June 2025. The area also features notable national brands, including Steak ‘n Shake, Scooter’s Coffee, Aldi, R.P. Lumber, Arby’s, Kroger, AutoZone Auto Parts, O’Reilly Auto Parts, Dairy Queen, and Wendy’s. Within a half-mile radius of the property, there are Chevrolet, Buick, GMC, Ford, Chrysler, Jeep, Dodge, and Ram dealerships, further increasing the area's draw for consumers.

