Investment Overview

Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace - https://rimarketplace.com/auction/2528/ Marcus & Millichap and RI Marketplace are pleased to present a vacant, free-standing retail building located at 2310 Lincoln Avenue in Charleston, Coles County, IL 61920 (the “Property”). Formerly occupied by KFC, the Property is being offered significantly below replacement cost, creating an attractive opportunity for owner/users or investors to acquire a well-located, Walmart Outparcel in the Effingham/Central Illinois Area Submarket. FIRST BID MEETS RESERVE! Built in 2003, the Property consists of a ±3,182 SF freestanding building situated on a ±0.827-acre parcel, with 36 surface parking spaces and ±126 feet of frontage along Lincoln Avenue. Positioned at a signalized hard corner in Charleston’s primary retail corridor, the site features a pylon sign, drive-thru, and strong visibility along Lincoln Avenue, which sees ±8,350 vehicles per day (VPD). The existing infrastructure makes the site an excellent candidate for restaurant reuse, retail repositioning, or redevelopment for QSR or other commercial uses. Previously leased on a NNN basis, the building offers a compelling value-add opportunity to re-lease at market rents (CoStar estimated retail rents: $14-17/SF NNN). Zoned C-2 (General Commercial), the Property supports a wide range of uses, providing flexibility for future tenancy or redevelopment. Charleston serves as a regional commercial and institutional hub in Coles County, Illinois. The Property is ideally located along Lincoln Avenue—Charleston’s main retail spine—benefiting from strong co-tenancy and consistent daily traffic. The site sits as a Walmart Supercenter outparcel at the signalized intersection with Hawthorne Drive (±6,227 VPD), directly caddy-corner to ALDI and near the entrances to Campus Pointe Apartments (±337 units) and Woodfall Villas. Surrounding national and regional retailers include Rural King, McDonald’s, Arby’s, Taco Bell, and Goodwill, reinforcing steady consumer activity throughout the trade area. Lincoln Avenue is also Illinois Route 16, a major east–west thoroughfare providing seamless access to Interstate 57 (±1.5 miles away), connecting Charleston to regional cities including Mattoon, Effingham, and Champaign. The city is home to Eastern Illinois University (EIU), a key economic anchor with approximately 7,000 students and one of the area’s largest employers. Additional educational demand drivers within a 1-mile radius include Charleston High School (±780 students) and Charleston Middle School (±380 students). The area is further supported by Sarah Bush Lincoln Health Center, a 145-bed regional hospital located between Charleston and Mattoon, driving steady visitation from medical staff, patients, and families. The Property is situated within a 5-mile trade area encompassing ±19,441 residents, with an average household income exceeding $75,500. The 10-mile population reaches over 25,000—reinforcing the Property’s long-term retail potential.