107 W Lincoln Ave
Charleston, IL 61920
Retail Property For Sale

Marcus & Millichap is pleased to present for sale this Sonic Drive-In located at 107 W Lincoln Avenue in Charleston, Illinois. This freestanding, single-tenant property features a 1,660-square-foot building situated on a ±0.60-acre parcel and was newly constructed in 2024, delivering the latest Sonic prototype.
The property is prominently positioned along West Lincoln Avenue, one of Charleston’s primary commercial corridors, providing strong visibility and convenient access to the surrounding trade area. The site benefits from close proximity to Eastern Illinois University, which enrolls approximately 8,000+ students, serving as a major economic and traffic driver for the city. The property is also supported by dense nearby residential neighborhoods and a well-established retail base that includes national and regional tenants such as McDonald’s, Starbucks, Walgreens, CVS, Taco Bell, Arby’s, Walmart, ALDI, Kroger, Wendy’s, and numerous others. Charleston’s role as a regional hub for education, healthcare, and retail provides consistent daily traffic and long-term demand fundamentals.
The property is encumbered by a 20-year absolute triple-net (NNN) lease that commenced in July 2024 and features attractive 1.5 percent annual rental increases throughout the base term and option periods. The tenant, Guernsey Holdings, is the fifth-largest Sonic franchisee in the system, operating more than 133+ Sonic locations and also operates more than 43 Zaxby’s restaurants. This lease structure provides investors with long-term, predictable income and zero landlord responsibilities from an established and experienced operator.
Sonic Drive-In, founded in 1953, is the largest drive-in restaurant brand in the United States with more than 3,500 locations in 46 states. The brand is part of Inspire Brands, the second-largest restaurant company in the U.S., which operates more than 32,000 restaurants across 57 markets worldwide, generating over $31 billion in system wide sales. Backed by one of the most experienced multi-unit operators in the Sonic system, this offering represents a rare opportunity to acquire a brand-new, long-term NNN asset in a strong Midwestern market, providing investors with stable cash flow, embedded growth through annual increases, and passive ownership with a proven national brand.