Marcus & Millichap is pleased to offer the opportunity to purchase the fee simple interest in a 9,120-square foot Fresenius Medical Care anchored retail center located at 1531 E College Ave, Normal, IL. Positioned just off the signalized intersection of College Ave and Veterans Parkway (Route 66), the site features exposure to over 53,000 vehicles per day. The property is fully occupied by three tenants, with Fresenius occupying the vast majority of the space at 77% of the GLA. Fresenius Medical Care and Papa Murphy’s Pizza account for 95% of the GLA and operate on NNN leases, reimbursing for their share of real estate taxes, common area maintenance, insurance and a management fee. Fresenius’s rent increases 2% every year, while Papa Murphy’s rent increases 3% each year. These two tenants operate on long-term leases (expiring in 2030 and 2029 respectively), giving the property a 4.89-year Weighted Average Lease Term (WALT). All tenants benefit from surrounding retailer traffic, with neighboring tenants such as McDonalds, Chick Fil A, Chipotle, Taco Bell, Jewel Osco, Kroger, Starbucks, Crumbl Cookies, and more populating this trade area. Illinois is a Certificate-of-Needs (CON) state, which creates a high barrier to entry for medical health providers like Fresenius to enter the marketplace. Fresenius Medical Care has a Moody’s credit rating of Baa3 and an S&P rating of BBB-, both of which are considered investment grade. Normal, Illinois is a prominent college town that is home to Illinois State University (+21,000 total enrollment). Normal is part of the Bloomington Normal MSA. With 94,000 people living within a 3-mile radius and average household incomes above $95,000 annually, these two cities are dynamic nodes dotting the American heartland. Priced at a 7% CAP rate and a price per square foot of $276.64, this is an opportunity to purchase a stabilized medical-focused retail asset with strong credit guaranteeing the vast majority of the cash flows.