Highlights
• 2-tenant, brand-new construction padsite next to high-traffic Meijer Supercenter (1.6M annual visitors) • New 10-year NNN leases: Jersey Mike’s and T-Mobile (corporate) • 10% rent increases every 5 years, including tenant option periods • Nearly 10 years weighted average lease term • Priced at sub-$2M with 7.15% CAP rate • Located in growing retail area: near TJ Maxx/Kohl’s, Starbucks drive-thru, across from Lowe’s • Traffic: 20,000+ vehicles/day; household incomes: $90,000+ within 1 mile • Danville: <4 miles from Indiana border, <40 miles east of Champaign (University of Illinois)
Description
Marcus & Millichap is offering the fee simple interest in a newly constructed, two-tenant retail center featuring Jersey Mike’s and a corporate T-Mobile location. Situated on a pad site adjacent to a high-traffic Meijer Supercenter, the property benefits from the grocery store’s strong draw, which attracts 1.6 million visitors annually, as well as additional traffic from a nearby new Starbucks and OSF Urgent Care. Both tenants signed 10-year NNN leases in mid-2024, providing a weighted average lease term of over nine years and stable cash flow. Priced under $2 million with a 7.15% CAP rate, the property offers an attractive yield for new construction leased to credit-worthy tenants. The center enjoys exposure to more than 20,000 vehicles per day, with surrounding household incomes exceeding $90,000, supporting strong retail fundamentals. Located in Danville, Illinois, less than 40 miles east of Champaign and just off I-74, the primary route between Champaign and Indianapolis, the site lies under four miles from the Indiana border, making it a key logistics hub. The retail corridor serves a broad trade area due to its strategic position at the intersection of the interstate and multiple state highways, ensuring long-term viability for the investment.
Listing Details
- Cap Rate
7.15%
- Tenancy
Multi
- Space Type
retail
- Sub Category
strip-centers
- Date Listed
10/15/2025
- Ownership Info
Fee Simple
- Broker/Agent Co-op
Yes
- Investment Type
Net Lease
- Net Operating Income
$141,989
Property Specifics
- Property Name
Jersey Mike's & Corporate T-Mobile
- Property Class
A
- No of Buildings
1
- No of Stories
1
- No of Units
2
- Year Built
2024
- Building Size
3,850 SF
- Lot Size
0.23 AC
- Zoning
B3
- Occupancy
100%