Normal, IL - Steak 'n Shake

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in an absolute NNN leased, drive-thru equipped, corporate guaranteed, Steak ‘n Shake investment opportunity located in Normal IL. The tenant, Steak ‘n Shake, Inc. has gone dark but has 5 years left in their first option period, with 3 (5-year) option periods to extend. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity to a passive investor seeking a long-term redevelopment play in a highly desirable location.

The subject property is strategically positioned along County Road 1700 N, and just half a mile south of the Interstate 55 on/off ramps (37,400 VPD), the major north/south highway serving the entire state of Illinois. The building is also equipped with a drive-thru, providing ease and convenience for customers. The asset is in close proximity to both Illinois State University (20,000+ students) and Heartland Community College (3,000+ students), providing a direct and strong consumer base from which to draw. Moreover, the site is nearby national/credit tenants including Schnucks, CVS Pharmacy, AMC, Dollar General, Starbucks, and more, promoting crossover traffic and store exposure to the property. The 5-mile trade area is supported by a dense population of over 108,100 residents with an average household income of $78,141.

---

Report Listing This listing was syndicated through:

Listing ID: a288X000003lyrGQAQ