Commercial
Former Denny's - Redevelopment Opportunity
224 Richmond Ave E, Mattoon, IL 61938
Listing Price: $800,000
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a ±5,800-square-foot freestanding restaurant building on ±1.22 acres at 224 Richmond Avenue East in Mattoon, Illinois. This former Denny’s is positioned for flexible reuse, ideal for a QSR or national restaurant concept, or as a value-add lease-up opportunity. The site underwent a full renovation in 2016, with a parking lot upgrade completed in 2023, and features excellent visibility and access along Richmond Ave.
The property is located directly adjacent to Emerald Acres Sports Connection, a brand-new $100 million indoor/outdoor sports complex projected to draw over 580,000 annual visitors and generate $23.8 million in direct economic impact. The site sits within the primary trade corridor of Mattoon, surrounded by Walmart, Rural King, Dollar General, Marshalls, Jo-Ann Fabrics, Dunham’s Sports, and several new retail and restaurant developments including Chick-fil-A, Chipotle, and Panda Express.
With an asking price of $800,000, this asset offers a rare chance to acquire real estate adjacent to a regionally significant development, backed by strong demographics and long-term demand drivers. Whether repositioned, leased, or owner-occupied, this property presents a compelling opportunity in East Central Illinois’ most dynamic growth corridor.
Investment Highlights
- Former Denny's on ±1.22 Acres With Flexible Reuse Potential | ±5,800 SF Freestanding Building With Recent Upgrades | Renovated in 2016 With New Parking Lot Completed in 2023
- Adjacent to $100M Emerald Acres Sports Complex | Over 580,000 Annual Visitors and $23.8M in Direct Spending | Demand for 59,000+ Hotel Room Nights and Nearby Dining Options
- Located on Richmond Ave E at Signalized Intersection | Part of Primary Retail Corridor With ±30,835 Combined VPD
- Surrounded by Major National Retail Tenants | Near Walmart, Dollar General, Rural King, Marshalls, Dunham's, and Jo-Ann Fabrics | New Retail Developments Include Chick-fil-A, Chipotle, Panda Express
- Value-Add or Owner-User Opportunity in Growing Trade Area | Operate as Restaurant, Rebrand, or Lease for Passive Income
- Healthy Local Demographics With Expanding Base | 5-Mile Population of 19,318 | Avg. Household Income of $80,254
Exclusively Listed By
Broker of Record
-
Steven D. Weinstock
Senior Vice President/Regional Manager
Listing Price: $800,000
Investment Highlights
- Former Denny's on ±1.22 Acres With Flexible Reuse Potential | ±5,800 SF Freestanding Building With Recent Upgrades | Renovated in 2016 With New Parking Lot Completed in 2023
- Adjacent to $100M Emerald Acres Sports Complex | Over 580,000 Annual Visitors and $23.8M in Direct Spending | Demand for 59,000+ Hotel Room Nights and Nearby Dining Options
- Located on Richmond Ave E at Signalized Intersection | Part of Primary Retail Corridor With ±30,835 Combined VPD
- Surrounded by Major National Retail Tenants | Near Walmart, Dollar General, Rural King, Marshalls, Dunham's, and Jo-Ann Fabrics | New Retail Developments Include Chick-fil-A, Chipotle, Panda Express
- Value-Add or Owner-User Opportunity in Growing Trade Area | Operate as Restaurant, Rebrand, or Lease for Passive Income
- Healthy Local Demographics With Expanding Base | 5-Mile Population of 19,318 | Avg. Household Income of $80,254
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a ±5,800-square-foot freestanding restaurant building on ±1.22 acres at 224 Richmond Avenue East in Mattoon, Illinois. This former Denny’s is positioned for flexible reuse, ideal for a QSR or national restaurant concept, or as a value-add lease-up opportunity. The site underwent a full renovation in 2016, with a parking lot upgrade completed in 2023, and features excellent visibility and access along Richmond Ave. The property is located directly adjacent to Emerald Acres Sports Connection, a brand-new $100 million indoor/outdoor sports complex projected to draw over 580,000 annual visitors and generate $23.8 million in direct economic impact. The site sits within the primary trade corridor of Mattoon, surrounded by Walmart, Rural King, Dollar General, Marshalls, Jo-Ann Fabrics, Dunham’s Sports, and several new retail and restaurant developments including Chick-fil-A, Chipotle, and Panda Express. With an asking price of $800,000, this asset offers a rare chance to acquire real estate adjacent to a regionally significant development, backed by strong demographics and long-term demand drivers. Whether repositioned, leased, or owner-occupied, this property presents a compelling opportunity in East Central Illinois’ most dynamic growth corridor.
Exclusively Listed By
Broker of Record
-
Steven D. Weinstock
Senior Vice President/Regional Manager

