111 W Lincoln Ave - Fast Food FOR SALE
Charleston, IL 61920 |
$2,725,000 USD
650-678-7200
111 W Lincoln Ave
Charleston, IL 61920
HIGHLIGHTS
- 20-year absolute NNN lease featuring 1.5% annual rental increases throughout the base term and options
- 2024 build-to-suit construction with drive-thru
- Zero landlord expense or maintenance obligations making this a truly “hand-off” investment
- Operator is a 123-unit franchisee operating on behalf of Sonic, Zaxby’s, and Take 5 Oil Change
- Subject property features significant frontage and direct ingress/egress on W Lincoln Avenue – 20,124 VPD
- Located less than 0.5 miles from Eastern Illinois University’s 320-acre campus – 8,850+ students
OVERVIEW
A 20-year absolute NNN lease Sonic featuring 1.5% annual rental increases throughout the base term and options. Tenant is the 5th largest Sonic franchisee in the U.S. with 123 locations in LA, TX, IL, TN, AR, ID, OR, and WA. Illinois is one of their best performing markets and the company is continuing to acquire other franchisees within their existing footprint.
FOR SALE DETAILS
PRICE
$2,725,000 USD
PRICE/SF
$1,642 USD /SF
CAP RATE
6.75%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Sonic Drive-In
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Fast Food
ADD'L SUBTYPES
Freestanding
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
2024
SPRINKLERS
-
PARKING SPACES
-
LAND DETAILS
LAND ACRES
0.6 AC
LAND SF
26,136 SF
ZONING
-
APN/PARCEL ID
-
ASK ABOUT THIS PROPERTY
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650-678-7200
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650-678-7200
By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.
