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111 W Lincoln AveCharleston, IL 61920
Sonic
Asset ClassRetail
Absolute NNN Lease
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Overview

Introducing the Sonic Drive-In in Charleston, Illinois - a prime investment opportunity you don't want to miss! This property features an Absolute NNN Lease, providing you with hassle-free ownership and guaranteed income. Located at 111 W Lincoln Ave, Charleston, IL 61920, this ±1,227 SF building sits on a ±0.59 AC (±25,920 SF) lot. The lease term is set for 20 years, with four (4) five (5) year options, ensuring long-term stability and potential growth. The tenant, Sonic, is backed by a strong guaranty from Guernsey Holding SDI IL Opco LLC, offering peace of mind to investors. With a rent schedule that includes 1.50% annual increases, the projected NOI is $182,357, making this an attractive proposition with a solid cap rate of 6.00%. Don't miss out on this exceptional investment opportunity in Charleston, Illinois. Contact us now for more details and to arrange a viewing of this remarkable property.

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Investment Highlights

INVESTMENT HIGHLIGHTS

• Absolute NNN Lease - zero landlord responsibilities

• Brand New Construction

• Long Term 20 Year Primary Lease Term

 

TENANT HIGHLIGHTS

• Fifth-Largest Sonic Franchisee with 87+ Locations (12 unit guaranty)

• Well-known brand with over 3,500 locations nationwide

• www.sonicdrivein.com

 

LOCATION HIGHLIGHTS

• Frontage on Lincoln Avenue, a major Charleston arterial that expands through the entire city (±23,074VPD)

• Down the street from Eastern Illinois University (8,860 students)

• Located in retail corridor with neighboring credit tenants such as Starbucks, Walgreens, CVS and more

• Adjacent to West Park Plaza, a 69,338 SF shopping mall including a Dollar Tree, Ruler Foods, and SIHF Healthcare Center

111 W Lincoln AveCharleston, IL 61920

Sales Team

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Listing provided by Revere CRE