Normal, IL - Circle K

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, True Blue Car Wash (Circle K backed) investment property located in Normal, Illinois. The tenant will have 7 years of term remaining with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features annual rental increases throughout the initial term and each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. The lease is backed by Circle K, while the car wash is branded True Blue.

The True Blue Car Wash is located near the signalized, hard-corner intersection of North Main Street/Highway 51 and West Raab Road, combining to average over 34,500 vehicles passing by daily. North Main Street is a major retail thoroughfare serving the city of Normal. The site is located less than a mile from a grocery-anchored shopping center that includes Pet Supplies Plus, Moe’s Southwest Grill, Anytime Fitness, and more. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Sam’s Club, Home Depot, Menard’s, Dunkin’, and McDonald’s, further increasing consumer traffic to the site. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The asset is less than two miles from Illinois State University which has a student population of over 20,500. The 5-mile trade area is supported by a population of over 110,000 residents and 99,000 employees. The average household income within a 5-mile radius is $95,126.