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Sonic Drive-In 111 W Lincoln Ave

1,660 SF Retail Building Charleston, IL 61920 $2,702,000 ($1,628/SF) 6.75% Cap Rate

Retail Space Illinois Charleston 111 W Lincoln Ave, Charleston, IL 61920

Investment Highlights

  • 20-year absolute NNN lease featuring 1.5% annual rental increases throughout the base term and options
  • Zero landlord expense or maintenance obligations making this a truly “hand-off” investment
  • Subject property features significant frontage and direct ingress/egress on W Lincoln Avenue – 20,124 VPD
  • 2024 build-to-suit construction with drive-thru
  • Operator is a 123-unit franchisee operating on behalf of Sonic, Zaxby’s, and Take 5 Oil Change
  • Located less than 0.5 miles from Eastern Illinois University’s 320-acre campus – 8,850+ students

Executive Summary

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.

Attachments

Sonic_CharlestonIL

Property Facts

Sale Type
Investment
Sale Condition
Build to Suit
Property Type
Retail
Property Subtype
Fast Food
Building Size
1,660 SF
Year Built
2024
Price
$2,702,000
Price Per SF
$1,628
Cap Rate
6.75%
NOI
$182,357
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Land Acres
0.60 AC

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • Sonic Drive-In
  • Accommodation and Food Services
  • 1,660 SF
  • -
  • Net
  • -
Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
Sonic Drive-In Accommodation and Food Services 1,660 SF - Net -
1 of 1
111 W Lincoln Ave, Charleston, IL - aerial map view
Walk Score ®
Very Walkable (80)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores
(415) 274-2715

  • Listing ID: 32595922

  • Date on Market: 7/26/2024

  • Last Updated:

  • Address: 111 W Lincoln Ave, Charleston, IL 61920

The Retail Property at 111 W Lincoln Ave, Charleston, IL 61920 is currently available For Sale. Contact CP Partners CRE for more information.

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111 W Lincoln Ave, Charleston, IL for sale Building Photo- Image 1 of 4
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111 W Lincoln Ave, Charleston, IL for sale Building Photo- Image 2 of 4
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111 W Lincoln Ave, Charleston, IL for sale Aerial- Image 3 of 4
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Sonic Drive-In | 111 W Lincoln Ave
(415) 274-2715 x

Sonic Drive-In | 111 W Lincoln Ave

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John Andreini

(415) 274-2715

(415) 274-2715

Kirby Dederian

(415) 274-2700

(415) 274-2700

Ryan Schulten

(415) 274-7391

(415) 274-7391

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