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.
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