Peoria, IL - Circle K Car Wash

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) investment property located in Peoria, 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 Allen Road and West Altorfer Drive. North Main Street averages over 16,300 vehicles passing by daily and is a major retail thoroughfare serving the city of Peoria. The property is located in close proximity to Northwoods Mall, one of Peoria’s largest shopping centers, complete with tenants including JCPenney, Buckle, and many more. The site is also in close proximity to another major retail corridor featuring a Walmart Supercenter, Hobby Lobby, Aldi, and more. The property is located less than a mile from a 208,401 square foot Menard’s with outparcels including ALDI and Burger King. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Kroger, Hy-Vee, At Home, Dick’s Sporting Goods, 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 80,000 residents and 46,616 employees. The average household income within a 5-mile radius is $108,369.