Overview

Description

Fortis Net Lease is pleased to present this brand new 2,20 SF T-Mobile store located in Centralia, Illinois. This 10 year Double Net (NN) Lease will require minimal landlord responsibilities. The lease provides a 6% rent increase in year 6 and a 10% increase at each of the three (5 year) options. There is no termination clause within this lease! The store has completed construction & successfully opened for business in October 2023.

This T-Mobile benefits from being nestled between Buchheit (performs in the top 2% of all home improvements stores in the nation) and Walmart (top performing superstore within a 15 mile radius) with excellent visibility from IL-161 which sees 7,927 cars per day, near a signalized intersection. With a prominent location in Centralia, across the streets sits a Goodwill store, Centralia Home Center, Schnucks, Big Lots, bealls, Dollar Tree, & more. The five mile population from the site is 19,440. The one mile household income is $57,522. This investment will offer a new owner continued success due to the strength and proven profitability of the tenant. List price reflects a 7.25% cap rate based on NOI of $86,680.

Highlights

• 10 Year Double Net (NN) Lease | Minimal Landlord Responsibility
• Brand New 2023 BTS Construction | NOW OPEN
• Between Buchheit (Performs in the Top 2% of Home Improvements Stores in the nation) & Walmart (Top Performing Superstore within a 15 mile Radius)
• Signalized Corner Location | 7,927 VPD
• 6% Rental Rate Increase at Year 6
• Three (5 Year) Options to Renew with 10% Increase at Each
• 5 Mile Population 19,440
• 1 Mile Average Household Income $57,522
• On Main Thoroughfare Connecting Communities
• Nearby Retailers Include Goodwill, Centralia Home Center, Schnucks, Big Lots, bealls, Dollar Tree, & More
• NO TERMINATION CLAUSE!

Documents

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