Bloomington, IL - Circle K (N Main St)

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 Bloomington, 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 and West Walnut Street. North Main Street is a major retail thoroughfare serving the city of Bloomington. The property is located in close proximity to Empire Shopping Center, one of Bloomington’s largest shopping areas, which includes Dick’s Sporting Goods, McDonald’s, Ashley Furniture Store, PetSmart, Five Below, and more. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Kroger, Kohl’s, Advance Auto Parts, O’Reilly Auto Parts, Planet Fitness, and more, 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 half of a mile from Illinois Wesleyan University which has a student population of over 1,500. The 5-mile trade area is supported by a population of over 130,000 residents and 107,095 employees. The average household income within a 5-mile radius is $98,631.