Effingham, 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 Effingham, 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 on South Banker Street, which sees an average of over 18,600 vehicles daily and is a major retail thoroughfare serving the city of Effingham. The property is located less than 4 miles from Peoria’s major retail corridor, containing a 224,208 square foot Walmart Supercenter, as well as many national tenants including Bath & Body Works, Kohl’s, Famous Footwear, Chipotle, Starbucks, and more. The asset is in close proximity to a Hobby Lobby anchored center which also includes a Planet Fitness and local tenants. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Valvoline, Chevrolet, Dairy Queen, NAPA Auto Parts, AutoZone, Culver’s, 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 19,000 and 23,077 employees. The average household income within a 5-mile radius is $96,182.