Off Market
Janesville, WI - Church's Chicken
2425 Milton Avenue | Janesville, WI 53545
Description
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple (land & building ownership) interest in an absolute NNN leased, drive-
thru equipped, Church’s Chicken investment property located in Janesville, Wisconsin. The tenant recently signed a 15-year lease with 3 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features a 10% rental increase every 5 years throughout the initial term and at the beginning of each option period, 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.
Location
The site is located along Milton Ave, a major retail and commuter thoroughfare, averaging 26,900 vehicles passing by daily. The building is complete with a drive-thru, providing ease and convenience for customers. On average, stores with drive-thrus experience higher sales than those without. The asset benefits from being conveniently located near the on/off ramps to Interstate 90 (49,900 VPD). The investment is in close proximity to Pine Tree Plaza, a 295,000 SF shopping center that serves over 2.6 million visitors per year (per Placer.ai). The shopping center includes tenants The Home Depot, Best Buy, T.J. Maxx, Petco, ALDI, and more. The subject property is located within a dense retail corridor with national/credit tenants including Walmart Supercenter, Dick’s Sporting Goods, Target, Hobby Lobby, and Kohl’s. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. The 5-mile trade area is supported by more than 70,700 residents with an affluent average household income of $89,193 .
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215