Mount Vernon, IL - 7 Brew

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN, dual drive-thru equipped, 7 Brew Coffee investment property located in Mount Vernon, Illinois. The tenant, Brew Horizons, LLC, recently signed a new 15-year lease with 6 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% 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. 7 Brew is one of the fastest growing coffee chains in the country with 343+ locations and has already sold 3,100+ franchised units, including “best in class franchisees” such as K-Mac Enterprises and Tacala Companies. Brew Horizons won 7 Brews’ 2023 Franchise of the Year and currently operates 25+ locations, with 20+ sites currently under negotiation, diligence, or entitlement, and are committed to reaching 200+ total locations.

7 Brew is strategically positioned along Broadway Street (22,530 VPD) with excellent visibility at the entrance to the Times Square Mall. The subject property receives significant crossover retail exposure from the shopping center which attracts 2.3 million+ annual visits (per Placer.ai) and features a strong tenant lineup including Planet Fitness, Ross, Big Lots, Hibbett Sports, Dunham’s Sports, Bath & Body Works, Ashley Outlet, and adjacent Wendy’s and KFC pads. Furthermore, the mall is adjacent to the Crossroads Community Hospital (56 beds) and an adjacent Kroger-anchored center. Other nearby tenants include Walmart Supercenter, Lowe’s, Menard’s, Kohl’s, ALDI, McDonald’s, and the SSM Health Good Samaritan Hospital (134 beds). The corridor is accessible via Interstate 64/57 (43,000 VPD), providing increased consumer traffic to the area. The 5-mile trade area is supported by a population of over 18,900 residents and 18,600 employees with an average household income of $75,887.