REIT Sale | Former KFC | 14K VPD | Drive Thru | Decatur MSA

Description:

RI Marketplace Online Auction July 28-30, 2025
Register to bid on Marketplace:

https://rimarketplace.com/auction/2559/reit-sale-former-kfc-14k-vpd-drive-thru-decatur-msa?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=retail_2559


Marcus & Millichap and RI Marketplace are pleased to present a vacant, free-standing retail building located at 1000 Charleston Avenue in Mattoon, Illinois 61938 (the “Property”). Formerly occupied by KFC, the Property is being offered significantly below replacement cost—creating an attractive opportunity for owner/users or investors to acquire a well-located QSR asset in the Effingham/Central Illinois Area Submarket. FIRST BID MEETS RESERVE!

Built in 1990, the Property consists of a ±2,530-square-foot freestanding building situated on a ±0.48-acre parcel, with 35 surface parking spaces. Positioned at a signalized hard corner, the site offers excellent visibility and is equipped with a pylon sign, drive-thru, and direct frontage along Charleston Avenue, which sees approximately ±14,318 vehicles per day (VPD). The building’s existing infrastructure makes it an ideal candidate for restaurant reuse, retail repositioning, or redevelopment for QSR or other commercial uses. Previously leased on a triple net (NNN) basis, the Property presents a compelling value-add opportunity to re-lease the space at market rents (CoStar estimated retail rents: $13-16/SF NNN). Zoned C-3, Service Commercial District, the site allows for a broad mix of commercial uses, providing future owners with flexibility for a variety of tenant types or adaptive reuse strategies.

Mattoon is located in Coles County, Illinois, and offers small-town charm in East-Central Illinois with strong market fundamentals for retailers, service providers, and QSR operators alike. The Property is strategically positioned along Charleston Avenue (Illinois Route 16)—one of Mattoon’s primary commercial corridors—offering excellent visibility and accessibility in a high-traffic location. The site is just minutes from downtown Mattoon and is surrounded by major national and regional retailers including Dollar General, Ace Hardware, Taco Bell, Hardee’s, CVS, and Walgreens, ensuring consistent consumer activity throughout the corridor. Charleston Avenue (IL-16) serves as a key east–west thoroughfare, connecting Mattoon to neighboring cities such as Charleston, Effingham, and Champaign, and provides seamless access to I-57, located just ±2.5-Mi away (±24,241 VPD). The area is supported by key transportation infrastructure including the Coles County Memorial Airport and the Mattoon Amtrak Station, both located nearby. Educational demand drivers include Eastern Illinois University in Charleston (±9 miles away, ±8,800 students), Lake Land College in Mattoon (±7 miles away, ±4,500 students), along with Mattoon High School (±905 students) and Mattoon Middle School (±645 students), which further reinforce daily traffic and daytime population. The Property is located within a 5-mile trade area home to approximately ±18,911 residents, with an average household income exceeding $73,400. These demographics, coupled with a strategic regional location and strong supporting infrastructure, reinforce the site’s long-term viability.



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

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