Mount Vernon Shops
For sale3909 Broadway St, Mt Vernon, IL 62864
Property type
Retail
Price
$3,250,000
Building size
9,551 sf
Rentable area
9,551 SF
Year built
2015
Year renovated
Occupancy
Zoning code
Lot size
1.20 Acres
CAP
6.75%
Price per SF
$340.28
Property description
Franklin Street is pleased to present the exclusive offering of The Shops at Mount Vernon, a multi-tenant retail outparcel located at 3909 Broadway Street in Mount Vernon, Illinois. Positioned at the signalized, high-traffic intersection of Broadway Street and South 42nd Street, the property benefits from direct outparcel visibility to Times Square Mall, a 377,325 SF regional power center anchored by Hobby Lobby, Ross, Ashley Furniture, Dunham's, Planet Fitness, and Ollie's. The property is leased to a strong, diversified tenant lineup including Kay Jewelers and AT&T under corporate-guaranteed leases, alongside Moe's Southwest Grill under a strong franchise guarantee, providing durable income backed by nationally recognized brands. Mount Vernon functions as the county seat of Jefferson County and the principal city of the Mount Vernon Micropolitan Statistical Area, with an MSA population exceeding 38,000 residents. The city's position at the crossroads of Interstate 57 and Interstate 64 has established it as the dominant retail, healthcare, and commercial hub for southern Illinois, drawing consumer traffic from a broad multi-county trade area. The Broadway Street corridor anchors this activity, carrying daily traffic counts in excess of 18,000 vehicles and hosting a dense concentration of national retailers including Walmart, Lowe's, Kohl's, and Kroger. Times Square Mall underwent a significant redevelopment in 2014, repositioning the center as the region's leading shopping destination and reinforcing long-term demand for outparcel retail exposure along Broadway Street. This offering presents investors the opportunity to acquire a diversified, credit-backed retail asset within one of southern Illinois' most established and highest-traffic commercial corridors, supported by strong regional draw, limited competing outparcel supply, and a stable, multi-sector local economy. Darron Kattan (BOR) Broker of Record IL #471021847
Property highlights
- Multi-tenant Investment: Anchored by Kay Jewelers and AT&T, both operating under corporate-guaranteed leases, alongside Moe's Southwest Grill under a strong franchisee.
- Prime Position: Times Square Mall, 377,325 SF regional center anchored by Hobby Lobby, Ross, Ashley Furniture, , Planet Fitness, Ollie's, and more, along Mount Vernon's dominant retail corridor.
- High-visibility Intersection: Broadway Street and South 42nd Street are a primary retail spine of Jefferson County, with traffic counts along the Broadway corridor exceeding 18,000 vehicles per day.
- Strong Demographics: Mount Vernon serves as a principal city, with an MSA population exceeding 38,000 residents and a median household income of approximately $80,534.
- Near Interstate 57 and 64: Establishing this trade area as the dominant regional retail, healthcare, and commercial destination for southern Illinois.
- Times Square Mall: Underwent redevelopment in 2014, drawing high yield traffic with 45 stores, 52.21 acres, and 1,608 parking spaces.