Marion, IL - Take 5 Oil Change

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, investment property located in Marion, Illinois. The tenant, Tvoc Marion, LLC, has over 14 years remaining on its lease with 8 (5-year) options to extend, demonstrating their commitment to the site. The lease features 7.5% rental increases every 5 years throughout the initial term and at the beginning of 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. Founded in 1984, Take 5 Oil Change is a nationally recognized brand with over 800 locations throughout the United States and Canada.

The asset is located at the signalized, hard corner intersection of Sinclair Drive and West Deyoung Street (28,100 VPD). The subject property benefits tremendously from its position at the center of a dense retail corridor highlighted by national/credit tenants including Walmart Supercenter, Sam’s Club, Home Depot, and Target, all within 1-mile of the property. The concentration of major retailers in the area, and adjacent fast-food brands such as Chipotle, Dunkin Donuts, Olive Garden, 7 Brew Coffee, and future tenants Raising Cane’s and Chick-fil-A, promotes crossover retail exposure to the site. Furthermore, there are several car dealerships nearby including Dodge, Chrysler, Jeep, Ram, Subaru, Toyota, Ford, Nissan, and Volkswagen, representing the ideal setting for a quick-service auto shop. The 5-mile trade area is supported by a population of over 28,700 residents and 20,900 employees. Households within 1-mile of the asset boast an affluent average household income of $120,643.