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Shopping Strip

Yellowstone Center

4550 Wabash Ave, Springfield, IL 62711

Listing Price: $4,600,000

Cap Rate
8.00%
Gross SF
22,245
Rentable SF
22,245
Price/Gross SF
$206.79
Lot Size
1.23 acres
Year Built
2003

Investment Overview

Marcus and Millichap is pleased to present for your acquisition review The Yellowstone Plaza in Springfield, IL. The subject property is a five-tenant retail center, offered at 100% occupancy with Bella Milano, Rabo Finance, Springfield Clinic Optometry, Envy Hair Salon and Springfield Clinic Urgent Care West. The center was built in 2003 on 1.23 acres of land and has since been kept in excellent condition. All five tenants signed NNN, long-term leases leaving minimal landlord responsibility. All tenants, except Envy Hair Salon who occupies the smallest unit, signed leases running through at least 2023 with scheduled annual rental increases providing an excellent hedge against inflation. The center is positioned off Wabash Avenue in the most desirable retail corridor in Springfield. Over 12,000 vehicles pass by the site every day. Other traffic drivers include McDonald’s, Buffalo Wild Wings, Culver’s, Smoothie King, Anytime Fitness, multiple car dealerships and many more. The center sits right at the Wabash exit from I-72 which sees 20,000 vehicles per day. Springfield is the capital of Illinois and home to over 115,000 people. The center is located in a very affluent part of town, with an average household income of $165,296 within a mile. 70,498 people live within five miles of the property.

Investment Highlights

  • Five Tenant Retail Center | 100% Occupied
  • NNN Leases | Minimal Landlord Responsibility
  • Zero Lease Rollover in 84% of Center through 2024 | Scheduled Rent Increases Provide Hedge Against Inflation
  • Right Off Wabash Avenue in Springfield's Prime Retail Corridor | Over 12,000 Vehicles Per Day
  • Several Other Retailers Also Drive Traffic to Center | McDonald's, Buffalo Wild Wings, Smoothie King, Culver's, 7 Auto Dealerships, and IHOP among many others
  • Very Affluent Area | $165,296 Average HH Income Within 1 Mile | 70,498 People Living within 5 Miles

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2250

    License(s) IL: 471.011175

    Illinois

Listing Price: $4,600,000

Cap Rate
8.00%
Gross SF
22,245
Rentable SF
22,245
Price/Gross SF
$206.79
Lot Size
1.23 acres
Year Built
2003

Investment Highlights

  • Five Tenant Retail Center | 100% Occupied
  • NNN Leases | Minimal Landlord Responsibility
  • Zero Lease Rollover in 84% of Center through 2024 | Scheduled Rent Increases Provide Hedge Against Inflation
  • Right Off Wabash Avenue in Springfield's Prime Retail Corridor | Over 12,000 Vehicles Per Day
  • Several Other Retailers Also Drive Traffic to Center | McDonald's, Buffalo Wild Wings, Smoothie King, Culver's, 7 Auto Dealerships, and IHOP among many others
  • Very Affluent Area | $165,296 Average HH Income Within 1 Mile | 70,498 People Living within 5 Miles

Investment Overview

Marcus and Millichap is pleased to present for your acquisition review The Yellowstone Plaza in Springfield, IL. The subject property is a five-tenant retail center, offered at 100% occupancy with Bella Milano, Rabo Finance, Springfield Clinic Optometry, Envy Hair Salon and Springfield Clinic Urgent Care West. The center was built in 2003 on 1.23 acres of land and has since been kept in excellent condition. All five tenants signed NNN, long-term leases leaving minimal landlord responsibility. All tenants, except Envy Hair Salon who occupies the smallest unit, signed leases running through at least 2023 with scheduled annual rental increases providing an excellent hedge against inflation. The center is positioned off Wabash Avenue in the most desirable retail corridor in Springfield. Over 12,000 vehicles pass by the site every day. Other traffic drivers include McDonald’s, Buffalo Wild Wings, Culver’s, Smoothie King, Anytime Fitness, multiple car dealerships and many more. The center sits right at the Wabash exit from I-72 which sees 20,000 vehicles per day. Springfield is the capital of Illinois and home to over 115,000 people. The center is located in a very affluent part of town, with an average household income of $165,296 within a mile. 70,498 people live within five miles of the property.

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2250

    License(s): IL: 471.011175

    Illinois

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