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2881 S Veterans Pky
Springfield, IL 62704
Red Robin (Dark) · Retail Property For Sale
Investment Highlights
- Dominant Location in Springfield, Illinois - #1 Retail Trade Area in 208,000 Person Market
- Ideal Re-Tenant/Redevelopment Opportunity with 44 Months of Guaranteed Income from Red Robin
- Ideal Site – 1 Acre Site with 5,800 SF Existing Restaurant Building Facing S Veterans Parkway
- Corporate Credit – Red Robin International (NASDAQ: RRGB) Pays Rent Through August 2029
- Lease Buyout Opportunity Exists - $443,768 in Guaranteed Future Rental
- Dense Detail Backup - Located in Front of Kohl’s, TJ Maxx, Ulta, Sierra, and Petco
Executive Summary
For sale to qualified investors is a dark Red Robin ideally located in the #1 retail trade area serving Springfield, Illinois. After extending their lease in 2021, Red Robin (NASDAQ: RRGB) has nearly 4 years of guaranteed rental remaining in this location - totaling $443,768 remaining as of January 1, 2026. This provides the purchaser with a unique opportunity to both collect rent from a corporate-credit tenant during the re-leasing and marketing period and working to secure a lease buyout in order to assist funding re-tenanting of the property. With an existing 5,800 square foot building on 1 acre of land, the property is a prime candidate for many retail and service uses. Situated directly in front of White Oaks Plaza, featuring Kohl’s, Siera, TJ Maxx, Ulta, Petco, and more, the property is a focal point in this top trade area serving over 200,000 customers in the area. In addition to I-72 access just a few blocks away, surrounding tenants also include the White Oaks Mall, Ross Dress for Less, Best Buy, Barnes & Noble, Academy Sports, Old Navy, Target, Walmart, Hobby Lobby, Chick fil A, Starbucks, Longhorn, Chipotle, Texas Roadhouse, Outback, and many, many more.
Brian Brockman
License #: 471020548
Bang Realty-Illinois, Inc
bor@bangrealty.com
513-898-1551
Brian Brockman
License #: 471020548
Bang Realty-Illinois, Inc
bor@bangrealty.com
513-898-1551
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,735 SF
Building Class
B
Year Built
2013
Price
$2,461,014 CAD
Price Per SF
$429.12 CAD
Cap Rate
7.43%
NOI
$182,870 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
1.00 AC
Parking
62 Spaces (10.81 Spaces per 1,000 SF Leased)
Amenities
- Restaurant
- Security System
- Signage
- Air Conditioning
Property Taxes
| Parcel Number | 21-12.0-227-007 | Improvements Assessment | $257,961 CAD |
| Land Assessment | $472,801 CAD | Total Assessment | $730,762 CAD |
Property Taxes
Parcel Number
21-12.0-227-007
Land Assessment
$472,801 CAD
Improvements Assessment
$257,961 CAD
Total Assessment
$730,762 CAD
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