Starbucks – Mt. Vernon

4323 Broadway St., Mt. Vernon, Illinois 62864

— For Sale —

List Price$1.97MM

Size +/- 2,000 SF

Cap Rate 4.7% (as of March 2023)

Property Information

LOGIC Commercial Real Estate is pleased to exclusively offer for sale a single-tenant net leased Starbucks with drive-thru located in Mount Vernon, Illinois. This is the only freestanding drive-thru Starbucks within a 60-mile radius and has plans to expand their drive-thru stacking to accommodate the extra demand. The property was built in 2018 and features below market rents and fixed 10% base rent increases every 5 years. The asset is situated on Broadway St. and S. 44th St. (+/- 20,700 CPD) and is less than a mile from Hwy 64 Freeway (+/- 35,400 CPD) – a primary east-west thoroughfare connecting the subject property to nearby Jefferson County metros.

Mount Vernon is home to a major employment hub consisting of Continental Tire (3,600 employees), Walgreens Distribution Center (1,500 employees), Good Samaritan Hospital, AT&T, and FedEx. The asset benefits from excellent access and visibility and is strategically located within walking distance from five hotels and both the Crossroads Community hospital (47 beds) and Good Samaritan Hospital (134 beds) – all driving additional daily traffic into the area. Located along Mount Vernon’s primary retail corridor, the subject property benefits from national co-tenants within the area, including a Kroger-anchored shopping center, Times Square Mall, Ross, Hobby Lobby, Big Lots, and Walmart.

Contact

Shareholder

Adam Malan

Partner
Las Vegas
License S.0063542.LLC
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O 702.954.4105
C 702.449.1180
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Brokerage

Deana Marcello

Executive Vice President
Las Vegas
License S.0174174
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O 702.954.4104
C 702.375.1022
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