Investment Overview

Marcus & Millichap and RI Marketplace are pleased to present a vacant, free-standing, retail/QSR building located at 1224 Edwardsville Road in Wood River, Illinois (the “Property”). Located within the St. Louis MSA, the Property is offered significantly below replacement cost and offers an exceptional owner/user or investment opportunity with significant value enhancement potential at a significant discount. FIRST BID MEETS RESERVE! Built in 1975, the Property is comprised of a one-story, free-standing restaurant building totaling ±1,892 square feet. Positioned on ±0.7965 acres of land, the Property offers excellent visibility and 46 total parking spaces. The Property has a WalkScore® of 73, Very Walkable, and is easily accessible via two points of egress/ingress. The Property was formerly occupied by Long John Silver’s on a triple net lease and offers potential investors the ability to acquire a free-standing retail building with significant value add through lease up at long term market rates (CoStar estimated retail rents of $11-$13 NNN). The Property is zoned “B-3”, Highway Business district, and offers favorable flexible zoning allowing for a variety of commercial uses via adaptive reuse or repositioning. The tenant, Long John Silver’s is still operating at this location with a lease expiration and vacate date of May 31, 2024. This former Long John Silvers is situated on a corner parcel along the south side of Edwardsville Road (±6,594 VPD) and east of N Central Avenue (±9,638 VPD), in the city of Wood River, Madison County, Illinois. Wood River with more than 10,464 residents is one of many small communities that make up what is known as the River Bend region and its more than 100,000 residents. Residents can enjoy the small-town life with a convenient location and access to all of the culture, entertainment, and amenities of St. Louis approximately 15 miles away from the City of Wood River. This former QSR is located along a main commercial corridor close to many area attractions, shopping destinations, and restaurants. The Property is strategically positioned in a prime retail corridor with several national retailers driving consistent traffic to the area including Walgreen’s, Walmart, McDonald’s, Hardee’s, Jimmy John’s, O’Reilly, Burger King, and Midas to name a few. There are several large employers in the immediate ±10-minute area including the Phillips 66 Wood River Refinery (±1,100 employees), Wieland Rolled Products North America (±875 employees), Olin Corporation (±815 employees) and a new Amazon Fulfillment Center (±700 employees). Additionally, located only ±15-min from the Property are medical demand drivers including Alton Memorial Hospital (AMH), a full-service, acute-care hospital, accredited by the Joint Commission with ±900 employees, ±200 physicians and 138 staffed beds serving patients in a 5-county area; and OSF Healthcare Saint Anthony’s Health Center with more than 250 beds on a 100-acre campus and ±800 employees. The Property is located at the confluence of the Mississippi and Missouri rivers in a very dense area that serves ±25,728 people within the immediate 3-mile area and ±50.809 individuals with an AHHI of ±$75,543 within a 5-mile area.