Creve Coeur, 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 Creve Coeur, 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 hard-corner intersection of State Highway 24 and Lawnridge Drive. State Highway 24 averages over 24,700 vehicles passing by daily and is a major retail thoroughfare serving the city of Creve Coeur. The property is located approximately 2 miles downtown East Peoria, which features a Costco, Target, Ross, Kohl’s, Planet Fitness, and more. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, Chick-fil-A, Dollar General, Harbor Freight, Tractor Supply Company, Dairy Queen, Panera Bread, 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 5-mile trade area is supported by a population of over 81,000 residents and 69,919 employees. The average household income within a 1-mile radius is $78,003.