REIT SALE | Former Pizza Hut | 1.86 Acres | St. Louis DMA | 6K VPD

Highlights:

• Freestanding Former Pizza Hut on Large 1.86 Acre Site Available at Significant Discount Below Replacement Cost
• Located in Prime Retail/Restaurant Hub Across from Sparta Community Airport and Less than ±0.5-miles from Walmart
• Hard Corner with Prime Frontage and Visibility on N Market St with Traffic Counts of 6,885 VPD
• Demand Drivers: Aldi, Dollar Tree, O’Reilly, Napa Auto Parts, Sparta Community Hospital, Taco Bell, Holiday Inn Express
• Zoned B2, Highway District with a Variety of Uses
• Absolute $1 Auction – NO RESERVE!

Description:

RI Marketplace Online Auction May 5-7, 2025
Register to bid on Marketplace:

https://rimarketplace.com/auction/2421/reit-sale-former-pizza-hut-1.86-acres-st.-louis-dma-6k-vpd?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=retail_2421

Marcus & Millichap and RI Marketplace are pleased to present a vacant, free-standing retail building located at 1801 N Market Street in Sparta, IL 62286 (the “Property”). Formerly occupied by Pizza Hut, the Property is being offered significantly below replacement cost, providing an excellent opportunity for owner/users or investors to acquire a well-positioned asset in Southern Illinois. FIRST BID MEETS RESERVE!

Built in 1988, the Property features a ±2,287 SF free-standing building on a ±1.86-acre lot, offering 42 surface parking spaces and ±200 feet of frontage along N Market Street, Sparta’s main retail corridor. The site benefits from excellent visibility on State Route 4, with ±6,885 vehicles per day (VPD) passing the Property. The existing infrastructure makes the Property an ideal candidate for restaurant re-use or redevelopment into retail, quick-service, or other commercial uses. Positioned on a hard corner, the Property is easily accessible via curb cuts on both N Market Street (State Route 4) and Stevenson Drive and features a pylon sign for maximum visibility. Previously occupied by Pizza Hut on a NNN lease, the Property presents a strong value-add opportunity for investors to lease-up at long-term market rates (CoStar estimated retail rents: $10–12/SF NNN). Zoned B2 (Highway District), the site allows for a variety of commercial uses, providing flexibility for redevelopment and repositioning.

The Property is located in Sparta, Illinois, a key commercial center in Randolph County, strategically positioned along the city’s primary retail corridor. This former Pizza Hut restaurant is located directly across from Sparta Community Airport – Hunter Field (SAR), a general aviation facility providing charter services, corporate travel, and flight training. The airport serves as a convenient gateway for business and recreational aviation, supporting local commerce and tourism. The Property benefits from a high-traffic location less than ±2-mi from Illinois Route 154, offering seamless regional connectivity to St. Louis (±50-mi northwest) and Carbondale (±45-mi south). It is surrounded by national and regional retailers, including Walmart Supercenter, Dollar General, McDonald’s, Taco Bell, O’Reilly, ALDI, and GMC reinforcing strong consumer traffic and retail synergy. Sparta is home to major economic drivers, including the World Shooting and Recreational Complex, a 1,600-acre facility attracting thousands of visitors annually, and Sparta Community Hospital (25 beds), the city’s largest healthcare provider. Additionally, Randolph County’s diverse economy is supported by manufacturing, agriculture, and retail trade, contributing to steady employment and consumer spending. The Property is positioned within a 5-mile trade area of ±5,900 residents, with an expanded 10-mile population of ±13,687 residents and an average household income of ±$76,000, further enhancing its retail potential.

Scott Bowers
c/o Fisher Auction Company Inc.
License: 040000273

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