1601 N Main St - Circle K | 7yrs Remain Corp Abs NNN
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1601 N Main St - Circle K | 7yrs Remain Corp Abs NNN
4,950 SF Specialty Building Offered at $3,371,000 at a 6% Cap Rate in Normal, IL 61761
Investment Highlights
- 7 Years Remaining | Options To Extend | Scheduled Rental Increases | Circle K Credit
- Strong Retail Corridor | Near Illinois State University
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, True Blue Car Wash (Circle K backed) investment property located in Normal, Illinois. The tenant will have 7 years of term remaining with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features annual rental increases throughout the initial term and each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. The lease is backed by Circle K, while the car wash is branded True Blue.
Property Facts
| Price | $3,371,000 | Building Class | B |
| Price Per SF | $681 | Lot Size | 0.99 AC |
| Sale Type | Investment | Building Size | 4,950 SF |
| Cap Rate | 6% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 2016 |
| Property Subtype | Car Wash | Parking Ratio | 4.04/1,000 SF |
| Price | $3,371,000 |
| Price Per SF | $681 |
| Sale Type | Investment |
| Cap Rate | 6% |
| Property Type | Specialty |
| Property Subtype | Car Wash |
| Building Class | B |
| Lot Size | 0.99 AC |
| Building Size | 4,950 SF |
| No. Stories | 1 |
| Year Built | 2016 |
| Parking Ratio | 4.04/1,000 SF |
Amenities
- Signage
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PROPERTY TAXES
| Parcel Number | 14-21-126-010 | Improvements Assessment | $107,036 |
| Land Assessment | $84,497 | Total Assessment | $191,533 |
PROPERTY TAXES
Parcel Number
14-21-126-010
Land Assessment
$84,497
Improvements Assessment
$107,036
Total Assessment
$191,533
zoning
| Zoning Code | B-1 |
| B-1 |
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Power Broker Patrick Luther -
Power Broker Matthew Mousavi -
Dan Elliot -
Sean Lutz -
SRS National Net Lease
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1601 N Main St - Circle K | 7yrs Remain Corp Abs NNN
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